Sales of passenger vehicles were 9% lower in the July-September quarter at 1,46,259 units as against the corresponding quarter last year. New Delhi: Tata Motors Group on Tuesday said its global wholesales, including Jaguar Land Rover, declined by 16% to 2,02,873 units in Q2 FY21 compared to Q2 FY20. According to a company release, global… Continue reading Tata Motors Group global wholesales decline 16% in Q2 FY21
Author: Economic Times of India Online News
Tata Motors September 2020 domestic sales up 37% at 44,444 units
Shailesh Chandra, Tata Motors said, “PV industry witnessed recovery in Q2FY21, supported by festive sales in some regions and continued benefit from pent-up demand across the country.” Tata Motors announced on Thursday that its total domestic sales increased 37% at 44,444 units in September 2020, as against 32,376 units in the same month last year.… Continue reading Tata Motors September 2020 domestic sales up 37% at 44,444 units
European carmakers’ leather use fuelling deforestation: NGO
London: Some of Europe’s biggest car giants including BMW and Jaguar Land Rover use leather linked to deforestation in South America, threatening the most vulnerable tribes, environmental NGO Earthsight said Wednesday. It claimed the automakers buy leather for vehicle interiors initially sourced from cattle ranching on illegally razed land in a part of Paraguay that… Continue reading European carmakers’ leather use fuelling deforestation: NGO
Ex-head of Nikola accused of sexual assault
New York: Sexual assault allegations against the founder and former chairman of Nikola prompted additional questions Tuesday about the electric truck startup and its pending deal with General Motors. The allegations by two women concern Trevor Milton, who abruptly resigned September 21 amid accusations of fraud that had led to a big pullback in shares… Continue reading Ex-head of Nikola accused of sexual assault
Nissan employee testifies against American on trial in Japan
Disclosing annual executive pay over 100 million yen (about USD 1 million) became a requirement in Japan from 2010. Ghosn had been getting about 10 times that. Tokyo: A Nissan employee testified Tuesday that he worked with another former Nissan executive, American Greg Kelly to find ways to pay the automaker’s former chairman, Carlos Ghosn… Continue reading Nissan employee testifies against American on trial in Japan
Chinese state investors to take BMW partner Brilliance private: Sources
The privatisation would attract other Chinese state-backed investors and could kick off as soon as the fourth quarter of the year, said two of the people. HONG KONG/SHANGHAI: Chinese state-backed investors are considering taking BMW‘s main Chinese joint-venture partner Brilliance private, five people with knowledge of the matter told Reuters, in the latest such deal… Continue reading Chinese state investors to take BMW partner Brilliance private: Sources
Tesla initiates talks to set up research centre in Bengaluru
Tesla held exploratory discussions with Karnataka government officials on September 10, who are seeking a possible investment by the world’s most valuable carmaker in a research facility in Bengaluru, people familiar with the development told ET. A followup meeting is expected later this month, they said, during which the state officials are expected to present… Continue reading Tesla initiates talks to set up research centre in Bengaluru
Importers must prove 35% value addition in origin country to get FTA benefits
Importers will have to provide proof of 35% value addition of goods imported through free trade agreements (FTA) to customs authorities, failing which duty benefits available under the agreement will be denied, government sources said. Sources said that while the customs authorities were engaging with industry and associations to sensitize them about the changes to… Continue reading Importers must prove 35% value addition in origin country to get FTA benefits
Mahindra & Mahindra terminates share purchase pact with CLP India
As per the agreement CLP was to buy 93,15,000 equity shares of Rs 10 each of NSPL at a price of Rs 112.37 per share aggregating to Rs 104.67 crore. NEW DELHI: Mahindra & Mahindra on Friday said it has terminated share purchase agreement with CLP India to sell the entire stake held by its… Continue reading Mahindra & Mahindra terminates share purchase pact with CLP India
Suzuki Motor Corporation raises stake in Maruti Suzuki to 56.37%
Prior to the transaction, Suzuki held 56.28% in Maruti Suzuki. New Delhi: Japanese auto major Suzuki Motor Corporation (SMC) has increased its stake in Indian subsidiary Maruti Suzuki to 56.37% by purchasing shares from the market. Prior to the transaction, Suzuki held 56.28% in Maruti Suzuki. Suzuki purchased 284,322 equity shares valued at Rs 204.31… Continue reading Suzuki Motor Corporation raises stake in Maruti Suzuki to 56.37%