The auto sector, which contributes more than seven percent of India’s gross domestic product, is facing one of its worst downturns.
Net profit fell 27.3% year-on-year to ₹1,435.5 crore, while the company’s net sales during the period fell 14.1% to Rs18,735.2 crore.
Tech Mahindra’s shares had underperformed in the market after its revenue growth went down sharply in the March quarter. Profit margins narrowed at a higher-than-expected
He will replace Markus Braunsperger, who will be relocating to Europe after the completion of his five-year tenure.
Kona Electric is already available in global market in two motor trims – 100 kW (power: 39.2 kWh) and 150 (power: 64kWh).
Analysts say the credit crunch in the financial services sector could continue to impact auto loans since 80% of car purchases are made via loans.
In May 2019, Maruti Brezza sales decline stood at 44 percent at 8,781 units.
Harley Davidson had announced earlier this year that they were looking for a partner in Asia, who will help them manufacture low cost, entry level
All the variant-wise prices of passenger cars will be available at all authorised Mahindra dealerships.
Maruti Suzuki Ciaz sales stood at 3,592 units in May 2019, featuring at No. 1 on the list of best selling C segment sedans.