Automakers bank on buyback option to tackle slowdown
Saturday, August 31, 2019, 7:25 PM
Nilanjan Banerjee of New Delhi bought Mahindra's premium luxury SUV, Alturas, this month. No big deal, except that he will keep the vehicle for three years, or 30,000 km, after which he is assured a buyback at 57% of the original value. "Initially a bit hesitant, this buyback option by Mahindra gave me the confidence to buy a Rs 35 lakh product," said Banerjee.
NBFC liquidity crisis hits India's auto industry hard
Friday, January 11, 2019, 7:49 AM
Automakers, hit by the liquidity crisis among NBFCs, want the government to take measures to stem the reduction in credit for dealers and customers. The Society of Indian Automobile Manufacturers (Siam), the industry lobby, has written to finance secretary A.N. Jha about the continued decline in sales from the lack of credit. The NBFC crisis was triggered by the crisis at IL&FS.
Jawa opens dealerships in Pune, first in India after re-entry
Saturday, December 15, 2018, 8:57 PM
Czech motorcycle brand Jawa, which re-entered the Indian market last month with the introduction of three models, on Saturday announced the launch of its first two dealerships in the country in Pune. With the two dealerships at Chinchwad and Baner in Pune becoming fully operational, customers can book and test-ride Jawa and Jawa Forty Two motorcycles, Classic Legends said in a statement.