Sales of petrol cars could likely grow at the expense of diesel cars after the transition, say experts.
M&M MD Pawan Goenka said that the prime focus will be on EVs and the company will be doing things “similar to what other service providers are doing, but with a twist”. He mentioned that there is enough room to accommodate more service providers and new entries in the segment should not be of concern.
Car sales overall fell off the cliff. But some companies held steady while some others just crashed. Here’s the report card.
Over the past three months, including the festive season, auto companies had given huge discounts — as high as Rs 1 lakh — to customers depending on the model. This was to reduce their BS-IV inventories leading up to the transition to BS-VI from April 2020.
Mahindra & Mahindra retained its third spot in the Indian passenger vehicle market in the first nine months of 2019-20, and increased its lead over fourth-placed Tata Motors.
The development comes in the wake of calls from financial institutions to Mahindra to inject more funds into the South Korean firm, given its deteriorating bottom line. SsangYong’s net losses had more than tripled year on year to about $160 million (185.5 billion won) during the first nine months of 2019.
It will also encourage a sense of professionalism within the working of a company.
Analysts point out that company may be playing it too safe in an evolving market. The maker of sport utility vehicles and tractors announced more names on Monday to head its second rung of top management, relying heavily on internal roster.
Analysis suggests that consumers could be hit by price hikes of diesel vehicles and two-wheelers.
The two day event of December 17 and December 18, will be held in a south Mumbai based Taj Mahal hotel. Incidentally the first of the conclaves was held at the Taj Mahal Hotel, Mumbai as well.
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