Tag Archives: Sales

Here’s how Fintechs are helping used car firms to boost sales

Droom Technology, the online transactional platform for automobiles, recently acquired Delhi-based non-banking financing company, Xeraphin Finvest, for an estimated USD 3 – 3.5 million. The online auto services provider is expanding its fintech business under Droom Credit Business Unit to drive auto loan disbursals and insurance for purchase of preowned vehicles and facilitate dealer financing options. In contrast to declining ... Read More »

Tesla’s service and used car revenue is growing, but can’t make up for a plunge in US vehicle sales

While Tesla’s overall sales dropped 39% in the U.S. during the third quarter, the company is seeing robust growth on “services and other” revenue, which includes sales of used cars. Revenue in that category jumped 68% to $548 million from $326 a year earlier, according to Tesla’s latest financial filing. Over the first nine months of 2019, it grew 91% to $1.65 ... Read More »

Spurred by robust used car sales, Cars24 to expand its network in India

Bengaluru: On the back of buoyant sales of used cars in India, Gurugram-headquartered tech-enabled used car company Cars24 is investing heavily on growing its presence across the country, and on improving its back-end technology, according to a top company official. Gajendra Jangid, co-founder and chief marketing officer of Cars24, in an interview to Mint, said that the company sells 13,500 cars ... Read More »

New car and bike sales decline for ninth consecutive month

With nine straight months of declining sales, it is no surprise that sales in July 2019 across vehicle segments – passenger vehicles and two-wheelers – are not worth writing home about. Instead, they point to an urgent need for a growth stimulus – ideally a GST rate cut from the existing 28 percent to 18 percent – to revive sales. Else, ... Read More »

Used-cars market shines bright as sales hit 4 million mark in FY19

As automakers continue to report plummeting April sales numbers, the factors triggering a slowdown in the new-cars market don’t seem to be weighing on the used-cars market. Used-cars sales crossed the 4 million unit mark in FY19, with it being 1.2x the size of the new car market. It is also poised to reach between 6.7 to 7.2 million cars ... Read More »

Women driving used car sales in India: Honda, Volkswagen, Nissan preferred brands

Women are now key drivers in the growth of used car market in India Gone are the days when a woman was expected to occupy only the passenger seat with a smile plastered on her face as the man flexed his ‘skills’, occasionally cracking a joke or two on women drivers and their lousiness. Shattering all these stereotypes with utmost ... Read More »

BS4 Used Car Sales Increase — BS6 Emission Norms Effective From April 2020

BS4 (BS-IV) used car sales increase ahead of the updated BS6 emission norms that come to effect in April 2020. Major automotive manufacturers are busy making their existing products BS6-compliant while certain models are being discontinued. In order to prevent such units from piling up the inventory, the soon-to-be-discontinued models are currently available with attractive discount offers and exchange bonuses. ET ... Read More »

New car sales in Russia seen slowing in 2019: AEB

MOSCOW: Sales of new cars in Russia are expected to rise 3.6 percent this year to 1.87 million, marking a slowdown from last year’s surge, the Association of European Businesses (AEB) lobby group said on Monday. New car sales in 2018 rose 12.8 percent year on year, while the number of new cars sold in December was 5.6 percent higher than ... Read More »

Government Bullish EVs Could Make 15 Per Cent Of New Car Sales In India In 5 Years

Nitin Gadkari, Minister of Road Transport Highways & Shipping, has announced at the SIAM annual convention 2018 that the government has no plans to subsidise electric vehicles in India. At present, GST on EVs is charged at the rate of 12 per cent. In contrast, GST is charged at the rate of 43 per cent on the minimum side for ... Read More »

Car Sales August 2018: Hyundai Registers Sales Growth Of 3.4 Per Cent

The country’s second largest car manufacturer, Hyundai Indiaregistered sales growth of 3.4 per cent in the month of August 2018 as it sold 61,912 units compared to 59,905 units sold in the same period last year. However, the domestic sales stood at 45,801 units, a decrease of 2.8 per cent as compared to 47,103 units sold in the same period last ... Read More »