Skip to content
Search

Latest Stories

MG Motor India sells 1518 units in March

MG Motor India has reported a total retail sale of 1518 units in March 2020, including 116 units of ZS EV, and 1402 units of the HECTOR.

The carmaker, which initiated the ‘Disinfect and Deliver initiative to sanitize cars and ensure a near-zero contact with customers, before the lockdown was imposed, has decided to formalize this as a permanent process across the company after the lockdown is lifted.


Rajeev Chaba, President & Managing Director, MG Motor India, said: “Both MG Hector and MG ZS EV have made a mark in the Indian car market. Despite supply chain disruption globally, MG Motor continues to serve its customers. In February, our sales were impacted due to the disruption, while the situation improved during March before the lockdown was announced, resulting in the shutting down of our manufacturing plant.”

“We have also announced Rs 20 million grant towards procuring gloves, masks, medicines, ventilators, and beds; and are working closely with the local administration in Gurugram and Halol (Vadodara) to support their requirements,” he added.

Despite the ongoing situation, the carmaker has assured its employees that there would be no layoffs and all payments to suppliers and vendors alike would be completed on time.

The carmaker has recently started production of BS-VI variants.

More For You

Nykaa beauty demand

The retailer has expanded overseas operations to compete with global cosmetics giants.

Getty Images

Nykaa profit jumps on strong beauty demand

Highlights

  • Quarterly profit surged to 344.4 m rupees from 100.4 m rupees year-on-year.
  • Revenue grew 25 per cent to 23.56 bn rupees on premium brand partnerships.
  • Company expands internationally with Kay Beauty launching in UK stores.
Indian beauty retailer Nykaa has posted a more than three-fold increase in quarterly profit, driven by steady demand for makeup and skincare products and strategic partnerships with global brands.

FSN E-Commerce Ventures, which operates the Nykaa platform, reported a profit of 344.4 million rupees (£3.9 m) for the quarter ended 30 September, up from 100.4 m rupees a year earlier.

Keep ReadingShow less