BUSINESS
Immunity booster meals, discounts, free stays; hotels are rolling out red carpet for guests
Hotel chains like Taj Hotels, IHG, Marriott, The Leela, Oberoi Hotels, and The Lalit are hoping to benefit from another round of revenge travel – a phenomenon that represents compulsive travel to beat boredom brought about by the Covid-19 lockdown
BUSINESS
Honda may move to two-shift production following strong demand pickup
Company sees retail sales and enquiries growing by more than two times in June, compared to May. Enquiries for June 2021 have already hit the June 2020 levels. There is a strong surge in retail demand from the western region.
BUSINESS
This week in Auto: Mercedes drives in S-Class, Hyundai launches Alcazar, incentives for electric two-wheelers and more
Here is a complete look at what made headlines during the week in the auto space
BUSINESS
Automobile demand unscathed by petrol above Rs 100, auto firms to rev up output
Launch of new models, low interest rates for car loans and growing preference for personal mobility because of the pandemic has helped demand bounce back and prompted leading companies Maruti Suzuki and Hyundai to ramp up production.
TRENDS
COVID-19 impact | Indian Hotels MD salary down by 50% in FY21, others follow
IHCL MD Puneet Chhatwal’s remuneration for FY21 stood at Rs 7.22 crore, down from Rs 14.57 crore paid in FY20.
BUSINESS
Electric two-wheeler makers cut prices; Ather, TVS, Ampere, Okinawa issue revised prices
The cut in prices of a maximum Rs 14,500 have made battery-powered two-wheelers close the gap further with their petrol counterparts, and, in some cases, even cheaper
TRENDS
Mazagon Dock to deliver INS Visakhapatnam by Oct, INS Vela by March to Indian Navy
INS Visakhapatnam is undergoing sea trials and three other destroyers are under various stages of development by the state-run company, which had to revise the delivery schedule because COVID-19 disrupted operations
TRENDS
Semiconductor shortages will hit Q2 volumes also: JLR guidance
The two British luxury brands lost about 7,000 units production to the semiconductor shortage during the March quarter before suspending production at two of its factories in the UK in April
TRENDS
We do not plan to catch up, we plan to lead: JLR CEO Thierry Bollore
Bollore who took over in September 2020 from Ralf Speth has promised investors of delivering double-digit EBIT (earnings before interest and tax) margin, become one of the world’s most profitable luxury manufacturers and make the company net zero carbon by 2039.
BUSINESS
Government raises incentives on electric two-wheelers, model prices to come down
Cap on incentives for electric two-wheelers has been raised to 40% of the cost of the vehicle from 20% while demand incentive has been increased to Rs 15,000/KWh from Rs 10,000/KWh
TRENDS
This week in Auto: Mercedes Maybach GLS launched, Pratap Bose joins M&M, JLR may look at battery factory and more 7023751
Here's all that happened in the automotive space during this week
TRENDS
Jaguar Land Rover hints at having battery cell factory to secure supply chain
China controlled 80 percent of the world’s raw material refining and 77 percent of the world’s cell capacity in 2020.
BUSINESS
After Mercedes-Benz, is Royal Enfield next to experiment with the direct-to-customer sales model?
In this work-from-home, digital-driven era, buyers prefer vehicles to be delivered at their residences and companies seem happy to oblige.
BUSINESS
Bharat Forge to set up new factory for defence business, to acquire land for Rs 240 crore
Bharat Forge has line up a capital expenditure (capex) of around Rs 300 crore for FY22 while for FY23 the capex could be at around Rs 250 crore
BUSINESS
Mercedes-Benz India’s new sales model: Here’s what dealers have to say
Were dealers taken into confidence about the luxury carmaker’s ‘direct to customer’ retail model? Will they lose business? Below are accounts from two large Mercedes-Benz dealers.
TRENDS
Royal Enfield will have the highest number of launches in FY22: CEO Vinod Dasari
This year, Royal Enfield is ready to introduce more models annually than ever before as the niche bike maker looks to further strengthen its iron grip on the middleweight motorcycle segment
TRENDS
Motherson Sumi FY22 capex steady at Rs 2000 crore; scaling up of EV business
Group company Samvardhana Motherson Automotive Systems Group BV (SMRPBV) saw its order book increase to EUR 15.6 billion as of March 31, 2021 from EUR 13.1 billion as of September 30, 2020
BUSINESS
On track to see double-digit growth in 2021: Martin Schwenk, MD and CEO - Mercedes-Benz India
Mercedes-Benz India will also overhaul its distribution and sales system where it will sell cars directly to customers.
BUSINESS
Honda testing swappable battery pack on electric rickshaw in India
This is the first time that Honda, a leader in India’s petrol-powered scooter and 125cc motorcycle space, is testing its technology on three-wheelers in the country
TRENDS
Mahindra-Fiat faceoff: M&M says Thar supply ramp-up bigger worry than dispute over Jeep Wrangler
While the average production rate of Mahindra Thar hovers around 3,000 units per month, it gets twice the number of bookings here, stretching the waiting period.
BUSINESS
This week in Auto: Mahindra rolls out product plans, Auto companies fight Coronavirus, worker unrest and more
Here is a complete list of all the important developments of the week in the auto space
BUSINESS
Bajaj Auto speeds up product development, new models lined up for FY22
The Pune-based company has already done three launches, so far, in the year and plans new models based on new platforms over the next six months.
BUSINESS
Aviation veteran Sanjiv Kapoor to take over as president of Oberoi Hotels on June 1
Kapoor joins the Oberoi Hotels Group at a time when the hospitality industry is struggling under the weight of various state-mandated lockdowns brought on by the Covid-19 pandemic which have crippled the travel and tourism market
BUSINESS
Covid outbreaks will make shift to personal mobility stronger, say automakers
Frequent lockdowns, long waiting periods and general uncertainty about life are making dramatic changes to the way cars are bought, say industry insiders.
