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Tag: india

  • Maruti Suzuki Launches Its Car Subscription Programme In Delhi, NCR And Bengaluru

    Maruti Suzuki Launches Its Car Subscription Programme In Delhi, NCR And Bengaluru

    Expanding its vehicle subscription program – Marti Suzuki Subscribe, to newer cities, the carmaker today launched it in Delhi, NCR (Noida, Ghaziabad, Faridabad, Gurugram) and Bengaluru. Earlier in August, the company had launched a pilot program for its vehicle subscription model, in partnership with Myles Automotive Technologies, in Pune and Hyderabad. However, this time around, the company has partnered with Orix Auto Infrastructure Services India to offer its car subscription program to individual buyers in Delhi, NCR and Bengaluru. The carmaker says that with this subscription model, it aims to offer easy, and flexible car ownership options to its customers.

    The subscription plan will include a duration ranging from 12 to 48 months, depending on customer preference, and will involve an all-inclusive monthly subscription fee. There will be no down payment, and the monthly charge will cover expenses like maintenance, zero dep insurance, and 24×7 roadside assistance. And all this will be handled by Orix India, through Maruti Suzuki’s dealer channel. To give you an example, the subscription fee for a Swift Lxi in Delhi, for a tenure of 48 months, starts at ₹ 14,463 (including taxes). In July too the company had launched a subscription program with Orix in Bengaluru and Gurugram, but now the prices have come down.

    After the completion of the subscription tenure, the customer can either opt to upgrade to a new vehicle, extend the tenure, or buy the car at market price. Under the new program, customers can select their desired Maruti Suzuki car – Swift, Dzire, Vitara Brezza or Ertiga from Maruti Suzuki Arena, and the Baleno, Ciaz or XL6 from the Nexa line up.

    Commenting on the new ownership program, Shashank Srivastava, Executive Director (Marketing and Sales) Maruti Suzuki India said, “The vehicle subscription market is new to India and as such offers huge untapped potential. Globally, the penetration of such a leasing program varies between 5% and 30%. The comprehensive Maruti Suzuki Subscribe initiative offers customers multiple advantages and peace of mind from the botheration of maintenance costs and insurance renewal. The program is especially focussed to bring convenience to the individual customers.” He further added, “Progressively we aim to offer Maruti Suzuki Subscribe in 40-60 cities in the next 2-3 years.”

    At the time of getting the new car, customers will have the option to register the vehicle in either white plate, that is under the name of the customer itself, or black plate with all India permit, in which case it will be registered in the name of Orix.

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  • AirAsia Strengthens Mumbai-Srinagar Connectivity

    AirAsia Strengthens Mumbai-Srinagar Connectivity

    Identifying the demand forecast in the holiday season and driven by its mission to enhance the air connectivity in the country,  AirAsia India has launched two new routes, connecting Mumbai with Guwahati and Srinagar.

    The airline expanded its network by commencing operations on these new sectors from 19th Sept 2020 with fares starting from ₹5,192 and continues to deliver on its goal of providing connectivity between various cities in its network in India. The airline expanded its network and continues to deliver on providing connectivity between various cities on its network of 20 stations in India.

    The airline has embarked on a steady growth path as the travel industry recovers, to stay ahead of the curve. As per DGCA reports, The number of daily passengers flown continues to soar with the numbers trending at over 90K per day on an average in the month of August. With offerings such as ‘Flex Fares’, allowing guests the flexibility to change their travel dates an unlimited number of times at no additional cost, AirAsia India is focussed on ensuring a convenient and hassle-free travel.

    Speaking of the new connection, Ankur Garg, Chief Commercial Officer, AirAsia India, said “The launch of these routes is a testament to our confidence in growing passenger demand and strengthening our network. We are focused on building connectivity and introducing services that will assist our guests, making each journey enjoyable and memorable. We have been closely studying and mapping the needs of our guests and market conditions. Sensing the demand for more connectivity from the financial capital to Guwahati and Srinagar, we decided to launch these new routes before the festive season and aim to help patrons with a convenient, enhanced and safe travel experience.”

    AirAsia India will operate the following flights as per the schedule below:

    Mumbai-Guwahati from 19 Sep 2020

    FLT

    FROM

    TO

    DEPARTURE

    ARRIVAL

    I50678

    Mumbai

    Guwahati

    15:10

    18:15

    I50679

    Guwahati

    Mumbai

    19:00

    22:10

    Mumbai-Srinagar  from 21 Sep 2020

    FLT

    FROM

    TO

    DEPARTURE

    ARRIVAL

    I50633

    Mumbai

    Srinagar

    15:10

    18:05

    I50634

    Srinagar

    Mumbai

    18:50

    22:10

    With focus on operational excellence and endeavour to raise the bar of  On-Time Performance, reliability and customer experience, AirAsia India continues to leverage integrating processes and cutting edge technology to diversify its services. With an ever-growing range of service offerings, AirAsia India continually strives to provide a delightful experience to all its guests. The airline recently announced an array of innovative services like making the multilingual chatbot AVA available on WhatsApp and introducing Flyporter doorstep-to-doorstep baggage delivering key metro routes. A host of other initiatives offered by the airline such as safe and secure rides in partnership with Avis India, priority baggage and check-in with AirAsia India RedCarpet and biometric contactless boarding via the DigiYatra service at its hub in Bangalore has been paving the way forward and pioneering the new normal in Indian aviation.

  • Skoda To Add 100 New Dealers In India By The End Of 2020

    Skoda To Add 100 New Dealers In India By The End Of 2020

    Skoda Auto India is currently focusing on expanding its footprint across the country. Apart from adding new outlets, the company will also be replacing the existing ones, who do not have enough financial resources to expand with the brand. The Czech automaker is working on the dealer expansion network throughout the country alongside its digital sales growth. The automaker intends to double its dealership network by 2022 as a part of project India 2.0.

    As per the original plan, the company aimed to strengthen its network by opening 124 new dealers by the end of this year. However, the plans were disrupted by the COVID-19 pandemic and the brand has revised its target to 100 new outlets by the end of this year.

    Speaking on the sidelines of the launch of the Rapid automatic, Zac Hollis, Brand Director, Skoda Auto India, said, “We have reduced our target to 100 by this year-end and 130 by the middle of next year. This year we will open new outlets in Bhopal, Mysore, and Guwahati, and new service centers with completely new dealers in Navi Mumbai and other places. This year we will add 27 new outlets.”

    The company also confirmed that it will not be introducing the Kodiaq RS in the Indian market. But, the BS6 Kodiaq TSI model will hit the market by early next year. The recently launched the Skoda Rapid TSI automatic in India with a starting price of ₹ 7.49 lakh and goes up to ₹ 13.29 lakh (all prices ex-showroom).

  • Apple India opening online store early next week

    Apple India opening online store early next week

    Apple India will open its online store in India on September 23, representing the tech giant’s first formal step into direct retailing in the world’s second-most populous country.

    In a statement, the US company said the online Apple Store would offer a full product range and ship nationwide along with finance and a level of customer support similar to that offered in physical Apple stores elsewhere in the world.

    “We’re proud to be expanding in India and want to do all we can to support our customers and their communities,” said Deirdre O’Brien, Apple’s senior vice president of Retail + People. “We know our users are relying on technology to stay connected, engage in learning, and tap into their creativity, and by bringing the Apple Store online to India, we are offering our customers the very best of Apple at this important time.”

    Besides selling products, the store will offer customers technical support and training in using and setting up Apple products, in either English or Hindi.

    The company said all online orders will be shipped via a contactless delivery process to preserve the health of staff during the Covid-19 pandemic.

    While Apple has been selling products through retail partners and distributors in India for more than 20 years, it has long wanted to launch a direct-to-consumer presence there. Until recently it was hamstrung by foreign investment laws in the state which require a minimum proportion of locally sourced components in products sold in overseas-owned retail networks. The company has steadily increased its manufacturing in India and now claims to support almost 900,000 jobs nationwide.

    The company continues to plan the opening of its first physical store in the country, most likely in Mumbai, with CEO Tim Cook promising in February it would open next year.

    Apple has an App Design and Development Accelerator in Bengaluru which supports thousands of local developers.

  • Honda Motorcycle And Scooter India To Launch A New Premium Motorcycle This Month

    Honda Motorcycle And Scooter India To Launch A New Premium Motorcycle This Month

    Honda Motorcycle and Scooter India are all set to launch a new premium motorcycle on September 30, 2020. But which motorcycle is it exactly, is still a mystery. For all you know, it could be the Honda CBR1000RR-R, whose bookings started in July itself. But our sources suggest that it is likely to be an all-new model, which will have a displacement between 300 cc to 500 cc and the model is likely to go up against Royal Enfield, the king of the segment in that range.

    Honda has updated its 500 cc range of motorcycles for 2021 featuring all-new color schemes, as well as other minor changes to bring them in line with the latest emission regulations for global markets. These include the Honda CB500X, Honda CBR500R, and the Honda CB500F. So the new model could be one of the updated 500 cc models too.

    We suspect that Honda is likely to use an existing international model, set it up according to India (specifications and equipment), and introduce it as a new model. The company did something similar with the Honda Hornet 2.0. It is based on the CB190R, which is an international model.

    Though, the one detail Honda confirms is that the new motorcycle will be an all-new model for India. The new model will be retailed through Honda’s BigWing network which exclusively caters to sales and after-sales of Honda’s premium 300 cc plus bikes. Expect the company to release more information closer to the date of the launch.

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  • StanChart Fined for 2007 Takeover Blunder in India

    StanChart Fined for 2007 Takeover Blunder in India

    India’s regulator fined Standard Chartered one billion rupees over violation of foreign exchange rules during a takeover of a local bank in 2007. India’s anti-money laundering agency slapped one of the country’s largest fines on a foreign bank in history following an 8-year probe that found it in violation of the foreign exchange management act which monitors offshore financial transactions.

    According to a report citing an order from India’s enforcement agency, Standard Chartered – the country’s largest foreign bank by branches – acted as a dealmaker and custodian for the transferal of Tamilnad Mercantile Bank (TMB) shares to a group of overseas investors 13 years ago without seeking permission from the local central bank.

    Senior officials at Standard Chartered saw an investment in TMB shares as an opportunity that might ripen into eventually larger ownership for the bank,» Sushil Kumar, the enforcement agency’s special director, said in the order.

    46,862 shares were transferred to foreign investors including GHI, Swiss Re Investors, FI Investments, Cuna Group and Sub-Continental Equities, an affiliate of Standard Chartered in April 2008. The transfers were made through escrow accounts with Standard Chartered, which acted as both a transaction agent and a lender to one of the investors on the deal.

    Standard Chartered through its affiliate Subcontinental was a proposed and eventually an actual investor in TMB shares to be purchased through the escrow agreement arrangements, Kumar added.

    Separately, TMB was fined almost 170 million rupees ($2.3 million) for similar charges.

  • Alternative payments move mainstream in India

    Alternative payments move mainstream in India

    Alternative payments have moved mainstream in India amid Covid-19, according to GlobalData.

    Payment platforms such as mobile and digital wallets have gained popularity among online shoppers, gradually replacing traditional payments during the pandemic.

    “The adoption of alternative payments has been on the rise since demonetization in 2016,” said Ravi Sharma, lead banking and payments analyst at GlobalData. “The recent Covid-19 outbreak has further accelerated the usage of alternative payments as consumers are increasingly using electronic payments to avoid exposing themselves to disease vectors while merchants are also insisting on the digital mode of payments.”

    GlobalData’s 2020 Banking & Payments Survey found that the share of alternative payments in online transactions in India stands at 54 percent this year, followed by payment cards and cash, which accounted for 30.1 percent and 8.1 percent, respectively.

    Google Pay has been one of the beneficiaries with 9.3 percent share in the e-commerce payments, a significant surge from 3.5 percent share last year.

    “While alternative payment tools were initially available for online payments, they are now being used for in-store payments as well,” Sharma said.

    “With merchants increasingly opting for QR code-based payments due to their cost-effectiveness, alternative payments will disrupt the country’s overall consumer payments space in a big way.”

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  • Apple to opens online sales in India

    Apple to opens online sales in India

    Tech giant Apple will launch an e-commerce store in India next month, according to a report by Bloomberg News.

    The firm will be timing its launch to begin trading in time for India’s busiest spending season, the Diwali festival. It follows CEO Tim Cook’s statement several months ago that Apple will start retailing within the territory next year.

    The firm’s smartphones are currently retailed via third parties within India, including existing online channels under Amazon and Walmart-owned Flipkart.

    Roughly a third of India’s 1 billion wireless subscribers do not use smartphones, representing a huge potential market for industry players in a region offering low pay rates to workers in manufacturing.

    A raft of Apple products are already being produced in southern India.

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  • Kia Sonet Subcompact SUV Pre-Bookings Begin In India

    Kia Sonet Subcompact SUV Pre-Bookings Begin In India

    Pre-bookings for the Kia Sonet subcompact SUV will begin August 20, 2020 onwards. Interested customers can pay ₹ 25,000 and pre-book the Sonet at any Kia Motors dealership or even online on the company’s website. The Kia Sonet made its global debut on August 7, 2020 and is slated to be launched in September 2020. The Sonet will be the first sub-four-meter vehicle from Kia and will take on established rivals such as the Hyundai Venue, Maruti Suzuki Vitara Brezza, Tata Nexon, Ford EcoSport, Mahindra XUV300 and the upcoming Nissan Magnite.

    Like the Seltos, the Sonet will also come in two trim options – GT Line and Tech Line. Kia promises that the Sonet will offer a bunch of class-leading features such as ventilated seats, Bose Surround audio system, a 10.25-inch HD touchscreen with smartphone connectivity, integrated air purifier with virus protection, ambient lighting and wireless charging for mobile phone with cooling function. Like the Seltos and the Carnival, the Kia Sonet will have the company’s UVO connect technology with over 57 connectivity features which include voice assist and over-the-air updates for maps.

    Kookhyun Shim, Managing Director & Chief Executive Officer, Kia Motors India said, “The Sonet is Kia’s answer to customers in the compact SUV segment who want style and substance, quality and features, performance and technology, comfort and safety in one compelling package. The Sonet has been engineered and built with Indian inputs and is a global model for Kia from India. India is the first country in the world where the Sonet goes on sale, and with the commencement of pre-bookings, we are confident our smart urban compact SUV will be warmly received in the country.”

    The Kia Sonet is likely to get four engine options which are – 1.2-litre petrol, 1.0-litre turbo petrol and a 1.5-liter diesel engine in two states of tune. Expect the Sonet to get a 7-speed dual-clutch automatic, 6-speed manual, 6-speed automatic and an iMT or intelligent manual transmission option as well. All three engine options are the same as on the Hyundai Venue, a sibling of the Kia Sonet. We expect the Kia Sonet prices to between ₹ 7 lakh and ₹ 12 lakh (ex-showroom).

    Kia says that in phase-I, the Sonet will be manufactured exclusively in India and then exported to over 70 countries around the globe, a beautiful example of make-in-India, for the world.

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  • Amazon India diverts into online medicines sales

    Amazon India diverts into online medicines sales

    Amazon India has opened a digital pharmacy trading in Bangalore in an attempt to grow its market reach in the highly competitive territory.

    The new Amazon Pharmacy service extends the firm’s online offer by trading in prescription and over-the-counter drugs, in a region where restricted medicines can often be purchased without evidence of the prescription. The firm will also trade in traditional remedies and health devices.

    India’s online medications industry operates in an environment where regulations are unclear, and where numerous startup-level firms are operating on a local scale. Amazon moved into the sector in its home market two years ago, purchasing American online pharmacy Pillpack.

    Amazon has recently expanded into food delivery, liquor trading and automobile insurance within the Indian market as part of its expansion moves.

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  • Audi India Introduces Ready To Drive Service Campaign With Special Offers

    Audi India Introduces Ready To Drive Service Campaign With Special Offers

    Audi India has rolled out its new Ready To Drive service campaign that brings a host of offers and benefits for its customers. Under the Ready To Drive campaign, customers can avail a 20 percent discount on brake pads, discs, and sensors, as well as a 10 percent discount on Audi genuine accessories, Audi Collection and merchandise for all models. The discount also extends to purchases made on the company’s virtual store. Customers can also avail savings up to 50 percent on myAudi Connect dongle on select vehicles in the range.

    Customers can save up to 20 percent on purchasing an extended warranty under the service campaign.

    Furthermore, Audi is offering savings up to 20 percent on availing extended warranty and service plans as well as the Comprehensive Service Value Package. For cars older than five years at the start of the campaign, customers will be eligible for a complimentary lube service. Customers will need to get in touch with their nearest authorized workshop to avail of the benefits of the campaign. The service campaign begins from August 17 and will continue until September 30, 2020.

    Commenting on the announcement, Balbir Singh Dhillon, Head of Audi India said, “At Audi, the customer is at the heart of everything we do. In line with our overall business strategy, we are happy to announce a service-specific campaign that brings savings and a host of offers that will ease a return to normalcy in the post lockdown period. All our workshops are fully sanitized and are constantly monitored to ensure that maximum hygiene is maintained at all times. We have seen increased aftersales activity over the last few weeks and we look forward to welcoming back our customers to our service centers. It is our endeavor to ensure that all Audis are running at their best, always.”

    The new campaign comes as life across the country goes back to normalcy in a phased manner with vehicles spending more time on the road instead of the garage. The service packages will also help those customers that have had their vehicles parked for a long time since the start of the lockdown.

    Audi India has been on a product offensive since October last year and has introduced four new models so far including the new-generation A6 and A8 L, Q8 SUV, and the RS7 Sportback. The automaker is gearing up to introduce the RS Q8 by the end of this month or in early September. The automaker also commenced online sales and service of its vehicles in May this year in the wake of the lockdown. More recently, the company announced the ‘One App’ that caters to the needs of new and existing customers.

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  • Tata Starbucks opens all-women stores

    Tata Starbucks opens all-women stores

    Tata Starbucks has opened two stores in India operated entirely by women as part of the firm’s efforts to address systemic inequities in opportunities for female workers within the country.

    The two female-staff-only stores are located in Delhi and Mumbai, and constitute a step forward in Tata Starbucks’ commitment to expanding the representation of women in the workforce. The program also includes initiatives to offer opportunities to women that take into account the responsibilities of motherhood. The firm offers 100-per-cent gender pay equity and aims to ensure women make up 40 percent of its total workforce by the end of 2022.

    Tata Starbucks says it will double the number of its female-led stores by the end of this year in the interests of empowering and supporting women leaders.

    “Tata Starbucks remains focused on creating and strengthening opportunities for women and fostering diversity across our organization,” said Tata Starbucks CEO Navin Gurnaney.

    “We are proud to open these all-women stores that will increase our commitment to diversity and inclusion in India and empower our female partners in new and meaningful ways.”

  • Indian retail sales plummet, but RAI points to early signs of recovery

    Indian retail sales plummet, but RAI points to early signs of recovery

    Indian retail sales figures reflect signs of recovery in the nation’s economy, even as the overall number shows a massive drop against last year due to the impact of the coronavirus pandemic.

    The Retailers Association of India (RAI), in the fifth edition of its fortnightly business survey, reported a 63-per-cent year-on-year decline in retail sales during July. The massive decrease compares favorably with that recorded for June (67 percent) and April (more than 80 percent).

    The trend towards recovery was most pronounced in the food & grocery and consumer durables product categories, but not apparent in the apparel, sports goods, and beauty & wellness sectors.

    The statistics signal challenges still facing retailers despite the easing of India’s lockdown last month.

    “With Unlock 3.0 now being rolled out across the country, there is a possibility of significant sales recovery for retail businesses,” said RAI CEO Kumar Rajagopalan. “However, localized lockdowns, weekend curfews, and not allowing formats like food courts and cinema halls to reopen are creating roadblocks on the path to revival.

    “In places where local authorities have been supportive, there is confidence in the minds of consumers. If the retail industry continues to be under pressure, it will have a serious rippling effect on other sectors such as manufacturing, entertainment, and artisans among others.”

  • Yokohama Begins Tyre Production After Phase Two Expansion

    Yokohama Begins Tyre Production After Phase Two Expansion

    Yokohama India has begun manufacturing tires after the completion of its second phase of expansion. The company began its manufacturing operations in India in 2014 with an annual capacity of 0.7 million and now it has gone up to 1.6 million tires per year. The company has also strengthened its standard operating practices in a bid to facilitate smooth progress of production lines at the factory. Yokohama entered the Indian market in 2007 and achieved the 1 millionth tire production mark in 2016.

    Anil Gupta, Vice Chairman Yokohama India said, “In response to the increasing demand for Yokohama Tyres in India and keeping in mind the projected market growth, we decided to double our domestic manufacturing capacities. Incidentally, it has happened at an opportune time as restrictions on the import of tires have been announced by the government. This decision is in line with the government’s clarion call for “Atmanirbhar Bharat” – from the drawing board to the dealer shops, the new Phase-2 facility is fully equipped to meet Indian market needs.

    With technological expertise from its parent company in Japan, Yokohama now manufactures its extremely popular Geolandar A/T along with Geolandar SUV tire and the BluEarth-RV02 tire at the new facility. The company says it has several new tire models on the anvil, ready to be launched in the near future.

    The company says that the expansion will also help increase employment opportunities at the Bahadurgarh plant. At present, the plant has 500 employees and with the increase in production, the plant will require an additional 200 people. The Yokohama Club Network or YCN is a specialized sales network that aims to provide a good experience to customers at the point of purchase and India has these dealerships as well. Yokohama is the original equipment supplier to automotive brands like Audi, Mercedes-Benz, Porsche, Nissan, Honda, Suzuki, Toyota, and Mitsubishi as well.

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  • Total’s Indian Joint-Venture To Seek Fuel Retailing License

    Total’s Indian Joint-Venture To Seek Fuel Retailing License

    A joint-venture by India’s Adani Gas and France’s Total will soon seek government permission to open retail fuel stations in India, Adani’s chief executive said on Wednesday. India has become a lucrative market for global oil majors after the government removed controls on the retail pricing of gasoline and gasoil and relaxed rules for setting up fuel stations in the country, the world’s third-biggest oil consumer and importer. The joint venture, Total Adani Fuels Marketing Pvt Ltd, will soon apply for a license under the new liberal fuel retailing rules, Manglani said.

    “Definitely we will take full benefit of the expertise and strength of Total,” Suresh Manglani told reporters on an earnings call, adding that the intent was to become a full-service operator, providing a multi-fuel offering.

    Fuel demand in India is expected to rise in the coming years as Prime Minister Narendra Modi pushes for Asia’s third-largest economy to grow from $2.9 trillion of gross domestic product in 2019 to $5 trillion by 2025.

    British oil major BP has already teamed up with Reliance Industries in a fuel retailing joint venture, and Shell and Abu Dhabi National Oil Co also both want to strengthen their presence in India.

    Total bought a 37.4% stake in billionaire Gautam Adani-promoted Adani Gas last year to capitalize on India’s push for cleaner sources of energy. Adani Gas, which has so far focused on selling gas to industry and households, also wants to sell liquefied natural gas (LNG) for transportation. Modi wants to raise the share of gas in India’s energy mix to 15% by 2030 from the current 6.2%.

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