Shally Mohile

Carmakers in India are offering discounts and freebies to attract new buyers and clear record inventory levels. Dealership stock reached an all-time high of 310,000 vehicles at the start of the financial year, leading companies to push sales by expanding into smaller towns and cities. This could be the first price war since the easing of the pandemic.

Indian cricket legend Mahendra Singh Dhoni has been appointed as the brand ambassador for French carmaker Citroen in India, as per sources. The move aims to boost brand recognition for the Stellantis Group company in the competitive Indian market. Dhoni is set to represent the brand for two years, with an annual fee of Rs 7 crore, as revealed by the sources.

While compact SUV models - defined as per body type and ground clearance - are driving the surge in the overall passenger vehicle market on account of their larger share in absolute terms, bigger UVs are fast catching up.

Following his resignation, Vinod Sahay who is president, aerospace and defence and chief purchase officer (CPO)- auto and farm Sectors (AFS), will now have additional responsibility for the truck and bus and construction equipment business. Sahay will be designated as president and Chief Purchase Officer (CPO) for AFS and President for Aerospace and Defence, MTBD and CE after May 31, 2024.

Maruti Suzuki India is aiming to sell about 2 million vehicles in the current fiscal, an 8.1% increase, outpacing the domestic industry. The company is betting on the launch of new models to drive growth, targeting a 10% rise in production. Maruti also plans to step up exports significantly and invest ₹1.25 lakh crore by 2030 to double output. The company's aggressive strategy aims to regain market share lost to rivals in recent years.

French carmaker Citroen aims to revive its fortunes in India with the Basalt, a mid-size coupe SUV set to launch in the second half of this year. The Basalt incorporates lessons learned from Citroen's experience in India, a market it considers challenging yet crucial. Citroen's existing models like C3, e-C3, and C3 Aircross faced lukewarm response due to feature gaps compared to rivals. The Basalt, produced in India and exported to South America, aims to address these gaps.

Mahindra Susten plans to invest ₹21,000 crore in a 5.5 GW renewable energy portfolio over 5 years with Ontario Teachers' Pension Plan. The company aims to avoid a heavy debt burden through asset flipping and expand into the hybrid renewable energy sector.

Ashok Leyland, the Hinduja Group flagship, is set to introduce six new light commercial vehicles (LCVs) in the next year, aiming to boost its market share in the segment to 25% from the current 20%. Amandeep Singh, president of LCV, international operations, defence, and power solutions at Ashok Leyland, revealed the company's plans to launch a new model of the Dost range every alternate month, starting from this month.

Indian Hotel Co Ltd (IHCL) and CG Hospitality are planning to expand their presence in the experiential vacation segment, aiming to increase the number of hotels from 11 to 25 and the number of keys from 900 to 2500 by next year. They plan to invest approximately Rs2000 crore for this expansion. The initiative, called Ekyam, will focus on adventure experiences in destinations across the Indian Ocean and Greater Himalayan regions, as well as wildlife escapes. This move comes as Indian travelers seek more immersive and unique travel experiences.

As compared to last year, restaurants saw families in larger packs, which, in turn, boosted the overall cover charges