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Having consolidated its position in the domestic market, Mahindra & Mahindra is now looking at ways to expand its presence across international markets, as per a top company executive. The Mumbai-based auto major is looking to scale up its automotive business globally in a phased manner with plans to leverage its existing distribution channels in various overseas markets in the first phase. In an interaction with PTI, Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar said new products like the under-development lifestyle pickup truck and the new range of electric models would allow it to enter new international markets. He noted that the automaker already has a strong presence in countries like South Africa, Australia, New Zealand, Morocco, and Chile with an established distribution network. "A lot of these geographies started for us as markets where we sold Scorpio pick-up. Now these markets are enabling us to launch models ...
Majority of car buyers in India still prefer making their purchase decisions through physical dealerships, with digital platforms increasingly complementing the overall acquisition process, according to a survey. The findings of a global study conducted by Urban Science involving over 9,000 people across the US, Germany, UK, China, India, and Mexico, revealed that most Indian buyers still predominantly prefer purchasing vehicles through a traditional dealership in person, with trust and relationship-building playing pivotal roles. According to the survey, nearly 9 out of 10 car buyers in India are more inclined to visit a physical dealership, highlighting the critical importance of in-person visits in shaping their overall buying behaviour, it stated. The survey highlighted that India provides a compelling blueprint for balancing the rising digital demand with a deeply rooted, trust- driven car-buying culture. For Indian car buyers, tradition is not merely nostalgic it's a trusted
Lotus Cars, British manufacturer of high-performance sports cars, has entered the Indian market with the launch of three models of its electric SUV, Eletre, starting at Rs 2.55 crore. The company -- owned by Chinese brand Geely -- on Thursday launched three variants of its Eletre electric Sports Utility Vehicle (SUV) here -- Lotus Eletre, Eletre S and Eletre R, priced at Rs 2.55 crore, Rs 2.75 crore and Rs 2.99 crore, respectively (all ex-showroom pan-India). The company has selected Exclusive Motors as the authorised representative for Lotus Cars across India, which will open its first showroom in Delhi in the coming months. "This is the right time for entering the India market," said Dominic Baumgart, Head of Aftersales, Asia Pacific, Middle East, Africa, and India, Lotus Cars. Satya Bagla, Managing Director, Exclusive Motors India, said, "There is a lot of support from the Government of India, in the electrification programme and charging infra are created in a very fast manner.
Maruti Suzuki India is kicking off 'Maruti 3.0' targeting to add another 20 lakh units production capacity in nine years with about 28 different models in the market by FY31, according to the company's Chairman R C Bhargava. As SUV sales continue to gain momentum in India with no prospects of demand for the smaller entry-level car market recovering to the growth rates of the past, the company, known for its small cars, is now restructuring its production facilities to "conform to the realities and what we are projecting for the future", he said in his address to the company's shareholders in the Annual Report for 2022-23. Bhargava also said while the Indian car industry is not expected "to grow in double digits, like what happened in China in the past, we do expect that a 6 per cent growth rate will be maintained till FY 2030-31". Highlighting the steps taken by the company to meet future demand, he said, "What is now being planned can be said to be the start of 'Maruti 3.0'. Our ..