Kia will be launching the Carnival premium multipurpose vehicle by January 2020, followed by a sub-4 metre SUV by July 2020. It isn’t just major urban centres, but even tier-I, II and III cities are showing interest in new offerings.
Utility vehicles accounted for 40% of the total passenger-vehicle segment in Sept, driven by new SUVs Kia Seltos, Hyundai Venue, and Maruti Suzuki XL6. That was just five percentage points behind hatchbacks that had 60-70% share a decade ago.
Baleno’s monthly sales slip to 12,000 units a month after Toyota Glanza launch.
Mahindra Trucks & Bus division eyes break even of operation in 12-18 months with hope of market recovery
The company has set a target of revenue of Rs 10,000 crore in the next three years.
Slump in sales, migration to BS-VI norms and lack of exciting launches behind muted enthusiasm.
BMW said that while volumes will remain in negative territory in 2019, in 2020 it aims to come back in the green.
H1 PV sales estimated to have fallen over 25% , CV sales 20% and 2-wheelers by over 15%.
Ashwani Gupta, 49, was Tuesday appointed Nissan Motor’s chief operating officer (COO), at a time the carmaker is grappling with the Carlos Ghosn scandal.
The company will be setting up an independent network across 22 locations with 100 outlets in the country in the coming 18 months.
"Efforts are on to reduce fixed as well as variable costs intensively, and we are quite confident that we will keep a profitable position this year as well,” Satyakam Arya, MD, Daimler India said.
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