Autocar_Professional India Online News – Page 497

Zoomcar raises $9.15 million via private placement to fund debt repayment and expansion

Self-drive car-sharing marketplace, Zoomcar, successfully priced a private placement, raising approximately $9.15 million in gross proceeds. This private placement is with select institutional investors and comes as Zoomcar looks to expand its operations and manage debt obligations. Before deductions for placement agent fees and other expenses, Zoomcar expects to receive $9.15 million in gross cash.… Continue reading Zoomcar raises $9.15 million via private placement to fund debt repayment and expansion

Zoomcar raises $9.15 million via private placement to fund debt repayment and expansion

Retail Auto Sales: Urban market under pressure, rural holding up

Rural India continued to demonstrate its market strength in October 2024, posting growth in key two-wheeler and passenger vehicle categories, despite the festival season traditionally driving stronger urban sales. The latest data from the Federation of Automobile Dealers Associations (FADA) also reveals interesting shifts in the urban-rural dynamics of India’s auto retail market. In October,… Continue reading Retail Auto Sales: Urban market under pressure, rural holding up

Retail Auto Sales: Urban market under pressure, rural holding up

Auto dealers cautious despite strong October sales; warn about year-end discount war

Despite a stellar 32% jump in October festival season sales, Indian automobile dealers are bracing for challenging months ahead. According to the latest Federation of Automobile Dealers Associations (FADA) member survey, only 37.15% of dealers expect growth in November 2024, while 39.69% anticipate flat sales, and 23.16% forecast a decline. The cautious outlook comes as… Continue reading Auto dealers cautious despite strong October sales; warn about year-end discount war

Tessolve to acquire Dream Chip Technologies for up to ₹400 crore

Tessolve, a Hero Electronix venture and a leader in semiconductor engineering, has signed a definitive agreement to acquire Dream Chip Technologies, a semiconductor chip design firm headquartered in Germany, for around ₹400 Crore (EUR 42.5 million). This acquisition, which is subject to regulatory approvals, will bolster Tessolve’s presence in the global semiconductor sector, particularly in… Continue reading Tessolve to acquire Dream Chip Technologies for up to ₹400 crore

Retail auto sales surge 32% in October 2024 on festive season high

The Indian automotive sector witnessed a remarkable surge in retail sales during October 2024, with overall vehicle sales jumping 32% year-over-year, driven by the convergence of major festivals and strong rural demand. According to data released by the Federation of Automobile Dealers Associations (FADA), total vehicle retail sales reached 28,32,944 units in October 2024, compared… Continue reading Retail auto sales surge 32% in October 2024 on festive season high

EXCLUSIVE: Sharad Agarwal steps down as head of Lamborghini India, joins Classic Legends as CBO

Sharad Agarwal has stepped down as the head of Lamborghini India. Sources say that he has joined Classic Legends as its Chief Business Officer. Agarwal has assumed his new role this week and will report to the CEO Ashish Joshi. Agarwal who started his career with TVS Motor Company is seen as a turnaround specialist and has… Continue reading EXCLUSIVE: Sharad Agarwal steps down as head of Lamborghini India, joins Classic Legends as CBO

Entry into EV next big chapter for Royal Enfield, says Siddhartha Lal

Eicher Motors-owned mid-size premium motorcycle maker Royal Enfield has unveiled its new electric vehicle brand Flying Flea with plans to launch two electric motorcycles by early 2026. Siddhartha Lal, the managing director of Eicher Motors, said Flying Flea is the next big chapter in Royal Enfield’s future journey. “This is the next chapter in the… Continue reading Entry into EV next big chapter for Royal Enfield, says Siddhartha Lal