Kirloskar Motor sold a total of 10423 units in the domestic market in July 2019
as against 13677 units in July 2018. This meant a degrowth of 24 per cent. The
company exported 868 units of the Etios series in July 2019, as against an export
of 747 units of the Etios series in July 2018.
Month on month Growth
on the sales performance, N. Raja, Deputy Managing Director, Toyota Kirloskar
Motor said, “The industry is deeply concerned with the increasing pressure of
low customer sentiment faced by the sector. The high insurance costs, rise in
taxes and liquidity crunch across the non- banking finance segment, tightening
of lending norms have significantly affected the domestic sales in the last few
months. We are trying to lend maximum support to our dealers through the hard times
faced by the industry by maintaining lean inventory.
despite the existing slowdown we are happy to note that our legendary products
in the IMV Segment (Innova and Fortuner) continue to hold their segment
leadership. Innova Crysta market share
in the month of May-June was 45 % whereas last year same period the market
share was 43%
hope that the upcoming festive season brings in a breather for the industry
with spur in customer sentiments. Also, we expect Government will step in to
take necessary steps for improving liquidity in the market by capital infusion
in the banks should also be of some help. The Industry also expects the GST
level to be rationalised to a lower level (28% to 18%) to accommodate the
downturn in sales”
Omega Seiki Mobility (OSM), a part of the Anglian Omega Group has announced a joint venture with iM3NY, a prominent battery technology player in the US, to bring battery cell technology in the Indian ...
Continental is promoting the development and use of open source software. The technology company has adopted a manifesto that emphasises its commitment to collaborative work with Free and Open Source ...
Nearly 50 DHL Express vans will begin running on the Michelin UPTIS airless tyre to make last-mile deliveries in Singapore by the end of 2023. The pilot programme begins with the first vehicles making...