Raw material prices including prices of precious metals spiralled northwards. To deal with the rising input costs, Original Equipment Manufacturers (OEM) have had to pass on the price hike on more than one occasion to end consumers. For instance, Tata Motors announced an average price hike of 1.8 per cent on its passenger vehicle range across models and variants effective[Read More…]
As per FADA data, automotive retail volumes fell 28 per cent on a Month over Month basis in April 2021 to approximately 11.85 lakh units. As part of the decline, the two-wheeler segment sales declined by 27.6 per cent while the PV segment fell 25.3 per cent. The decline in three-wheelers, commercial vehicles and tractors was pegged at 43.1 per[Read More…]
Reserve Bank Of India, Governor , Shaktikanta Das announced measures to deal with the second wave of Covid-19 earlier in May. In his address, he said, “The global economy is showing signs of recovery; activity remains uneven across countries and sectors, clouded by downside risks.” Of the view that localised and targeted containment measures enabled businesses to adapt, he opined[Read More…]
In a regulatory filing with the stock exchanges about the outcome of the Hon’ble NCLT convened shareholder meeting, Motherson Sumi Systems Ltd. (MSSL) informed that the public shareholders (non-promoter) voted in favour of the proposal with an overwhelming majority. It is said to have paved the way for the successful completion of the proposed restructuring. 99.44 per cent of the[Read More…]
The Government of India is bullish on exports. Piyush Goyal, Minister of Railways and Minister of Commerce and Industry expressed that the government is confident of realising the ambitious target of USD 400 billion merchandise shipments on the back of encouraging figures over April and May (period under consideration until May 07’ 2021). For instance, India’s exports in April jumped[Read More…]
Martin Uhlarik, the Head of Design, UK for Tata Motors European Technical Centre (TMETC) took over from ace designer Pratap Bose, Vice President – Global Design as the Global Design Head of Tata Motors. Bose has chosen to pursue opportunities outside the company and is reportedly expected to join the Mahindra Advanced Design Europe (MADE) centre in the West Midlands,[Read More…]
In a rare transition seen in the consulting business world, Sarwant Singh Ex-Managing Partner – Middle East, Africa and South Asia at Frost Sullivan has joined the leadership team of Ashok Leyland owned Switch Mobility. He joins the latter as the President and Chief Planning Officer effective May 01’ 2021. In an additional charge, he has taken up the role[Read More…]
