Bajaj Auto has become the top player in India’s electric vehicle market by monthly volumes, across all categories, with over 25,000 sales and registrations in September. This comes on the back of a big push in expanding distribution by the company and steady demand of electric three-wheelers. In September, the company – according to … Read more
Stellantis, an automotive colossus that owns more than a dozen brands including Chrysler, Fiat, Jeep, Peugeot, and Ram, is facing challenges at seemingly every turn. The company’s sales and profit have been plummeting. Dealers stuck with parking lots filled with unsold cars are publicly criticising Stellantis and its chief executive in unusually harsh terms. Stellantis’s … Read more
The economy of US is going strong, but has a major chance of facing a hiccup due to impending recession fears and also because of the incoming US Presidential elections 2024, which is scheduled for November. The stock markets are also being a massive headache for economists, as some of the ‘Trump trades’, which are … Read more
The global credit ratings agency S&P Global on Tuesday retained India’s growth forecast at 6.8 per cent for the current financial year and expressed optimism that the Reserve Bank of India (RBI) would start cutting interest rates in its October monetary policy review. “In India, GDP growth moderated in the June quarter as high interest … Read more
Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation. Â The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters. This would make it the first carmaker to go … Read more
The US Federal Reserve finally cut benchmark interest rate by 50 bps to 4-3/4 to 5% for the first time in four years. This marks the kicking off of an easing rate cycle. The Federal Reserve has held its policy rate in the 5.25-5.50% range since July 2023 as inflation rose to a 40-year high … Read more
Reliance Infrastructure Ltd announced the settlement of Rs 235 crore in dues owed to Edelweiss Asset Reconstruction Company Ltd (Edelweiss), marking another significant development in the company’s debt resolution efforts. The announcement was made through an exchange filing on Wednesday, at the same time the company stated that it had also reached a Rs 600 … Read more
Tupperware Brands and its subsidiaries have filed for Chapter 11 bankruptcy protection in the US. The company, known for its food storage containers, announced the filing on Tuesday amid increasing financial difficulties. Tupperware president and CEO Laurie Ann Goldman said the company’s financial situation has been severely affected by challenging economic conditions.”As a result, we … Read more
The country’s largest electric car maker Tata Motors has started working with used car marketplaces to facilitate resale and exchange for electric vehicle (EV) owners. A company spokesperson told Business Standard, “We have been working on opportunities for facilitating EV resale / exchange for those owners who are looking to upgrade to a new … Read more