Business Roundup #Week27

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Luxury Car Market In The Fast Lane

India’s luxury-car market is on course to hit a new high this year, after posting record sales in 2017, says a report.

Sales have topped 20,000 units in the first half of the year, expanding in double digits every month through June with an average growth rate of 12-13%. Total sales for 2017 were about 39,000 units, a 17% increase over the year before.

The growth in luxury-vehicle sales for the past year and half has been in tandem with or faster than the overall passenger vehicle market, with new product launches, expanding dealer networks and 13% growing prosperity among buyers whose profile now includes an increasing number of women driving demand.

Colgate-Palmolive Market Share Slides

Colgate-Palmolive saw its market share fall below 50% for the first time in decades in May, according to a report.

This comes as Baba Ramdev’s Patanjali and other herbal brands continued to eat into the big multinational’s shares.

The country’s largest toothpaste maker’s share by value in the country’s 7,500-crore-rupee toothpaste market stood at 49.9% in May — the latest month for which data is available —a 260 basis points drop over same month last year, industry executives said, quoting data from market researcher Nielsen.

BSNL Unveils First Internet Telephony Service

 BSNL has launched the country’s first internet telephony service that will allow users to dial any telephone number in India through its mobile app.

Now the state-run telecom firm’s customers will be able to make calls using the company’s mobile app “Wings” to any phone number in the country.

Before this, phone calls on mobile apps were possible within users of a particular app and not on telephone numbers. Using this service, BSNL customers will be able to make calls on any network in the country even by using BSNL Wi-Fi or any other service provider.

Tata Names New SUV As Harrier

Tata Motors has said its new compact sports utility vehicle (SUV) will be called ‘Harrier’, says a report.

It is being developed in collaboration with its British arm Jaguar Land Rover. The five-seater monocoque SUV is engineered on the new generation platform and was unveiled at the Auto Expo 2018 as the H5X concept.

The commercial launch will take place in the first quarter of 2019. The Harrier sports sleek looks dynamic, and offers “a glimpse of the future generation of Tata Motors vehicles in terms of styling, technology and performance capabilities,” the company said in a statement.

TKM recalling Innova Crysta And Fortuner

Toyota Kirloskar Motor (TKM) is recalling 2,628 units of its multi-purpose vehicle Innova Crysta and Fortuner SUV to replace faulty fuel hose routing, says a report.

The recall covers petrol powered Innova Crysta and Fortuner units, manufactured between July 18, 2016 and March 22, 2018, to inspect fuel hose routing and correct if required.

“In line with its commitment to safety first and customer satisfaction, the company is implementing this recall in India,” TKM said.

Honda Cars Set To Hike Prices

Honda Cars India will hike the prices of its models by up to 35,000 rupees from next month, says a report.

The move is order to offset rise in input costs.  

The company plans to hike prices in the range of Rs 10,000-Rs 35,000 and the revised prices will be effective from August 1, Honda Cars India Ltd said in a statement.

Choice Hotels Plans To Add Properties

Hospitality chain Choice Hotels India plans to add 11 properties under the franchise model by end of 2020 in India, says a report.

The company, which is a subsidiary of the US-based hospitality major Choice Hotels International, currently has 29 operating hotels in India.

The hotels will be present in locations including Port Blair, Gorakhpur, Ooty, Lucknow, Lakhimpur and Kochi among others.

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Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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