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Mercedes-Benz India sales rises 1.4% to 15,538 units in 2018
Posted on 9th January 2019
German auto major Mercedes-Benz Wednesday reported 1.4 per cent increase in its sales in India with a record 15,538 units in 2018, retaining its leadership position in the luxury segment for the fourth year in a row. The company had sold 15,330 units in 2017, Mercedes-Benz India said in a statement.

Sales in 2018 were driven by an all-round performance across segments from the new-generation cars, sedans, SUVs and the AMG portfolio, it added.

Mercedes-Benz India Managing Director and CEO Martin Schwenk said, "We are satisfied with our sales performance in 2018 despite facing strong macro-economic headwinds in H2, resulting in low consumer sentiment that posed significant sales challenges."

However, "we made a strong comeback in the Q4 period and were able to achieve a year-on-year growth," he added.

The company's rival BMW India had posted 13 per cent increase in car sales to 11,105 units in 2018, compared with 9,800 units in the previous year, while Tata Motors-owned Jaguar Land Rover reported 16.23 per cent increase in its 2018 sales at 4,596 units as against 3,954 units in 2017.

Volvo Auto India posted 30 per cent increase in its sales at 2,638 units in 2018 as against 2,029 units in the previous year. Another major player in the segment, Audi, is yet to declare its 2018 sales.

On the outlook for the new year, Schwenk said, "2019 is going to be an important year for Mercedes-Benz India, as we reach the milestone of '25 years of Mercedes-Benz in India'. The year will be marked with some of the most significant product introductions which will redefine luxury motoring and chart new avenues for future mobility."

The company will introduce in over ten new products, including an array of products from the performance brand AMG, this year.


Other Latest News
Mercedes-Benz to roll out new technologies to boost sales in India
Posted on 22nd March 2019
German luxury car maker Mercedes Benz is planning to bring in a range of new technologies in order to increase their foot print in India. Starting from upgraded internal combustion engines to battery-powered electric vehicles and plug-in hybrids, the company is looking out for all the viable options that make sense for the Indian luxury-car market

Sensex snaps 8-day winning run, dives 222 points on profit booking
Posted on 22nd March 2019
Mumbai: Snapping its eight-day winning streak, the BSE benchmark Sensex declined by over 222 points on Friday to end at 38,164.61 as investors booked profits after Fitch Ratings cut India's growth forecast.

The 30-share index opened on a positive note at 38,452.47, but soon succumbed to heavy selling pressure, touching an intra-day low of 38,089.36. It finally closed at 38,164.61, down by 222.14 points, or 0.58 per cent. On similar lines, the NSE Nifty shed 64.15 points, or 0.56 per cent, to finish at 11,456.90.


Hyundai shareholders inflict big defeat on U.S. fund Elliott in proxy vote
Posted on 22nd March 2019
Hyundai Motor Group companies’ shareholders rejected on Friday Elliott Management’s demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund’s campaign to shake up South Korea’s second-biggest family-run conglomerate.

Although Hyundai fended off the threat from Elliott at the closely watched vote, it still faces a daunting challenge of winning shareholder support for a planned restructuring that should aid the handover of the group’s reins to heir apparent Euisun Chung.


Fitch assigns investment grade rating to NTPC’s proposed notes
Posted on 22nd March 2019
Fitch Ratings Friday said that it has assigned BBB-(EXP), an investment grade rating, to NTPC’s proposed senior unsecured notes.

The proposed notes are to be issued out of the company’s USD 6 billion medium-term note programme and are rated at the same level as the NTPC’s senior unsecured rating, as they will constitute its direct, unconditional, unsubordinated and unsecured obligations, a Fitch Ratings statement said.


Reliance Jio vs Vodafone Idea vs Airtel: Two TRAI 4G speed tests, two different winners
Posted on 22nd March 2019
Which is the fastest 4G telecom operator in the country? According to the Telecom Regulatory Authority of India (Trai), it is Reliance Jio by one methodology and Bharti Airtel by another.

Even the average download speed is very divergent in the two sets of methods adopted by the regulator.


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