Eicher Motors' shareholders in its recently held annual general meeting (AGM) have rejected a proposal for re-appointment of Siddhartha Lal as the company's managing director for a period of five years with effect from May 1 this year. During the company's 39th AGM, which was held earlier this week, the members also rejected the proposal of increasing Lal's remuneration. While 73 per cent of the votes favoured the re-appointment, the rest 27 per cent were against it.
Leading passenger vehicle maker Maruti Suzuki on Saturday reported marginal growth while Hyundai and Tata Motors posted a decline in their sales in February as a slowdown in the market continued with demand remaining muted. On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor posted double-digit growth riding on their SUV and MPV models.
Bajaj Auto is gearing up to launch clean-energy vehicles including another motorcycle powered by compressed natural gas (CNG), showcase ethanol-powered motorcycles and three-wheelers next month, as well as launch a new Chetak platform early next year, as it closes in on hitting 100,000 monthly sales from clean-energy vehicles this festival season. In an interview with CNBC-TV18, Bajaj Auto managing director Rajiv Bajaj said these initiatives were part of the firm's broader goal to achieve monthly sales of 100,000 clean-energy vehicles this festival season.
To come up with first EV by 2025, expects market to grow two to three-fold in the next ten years.
Eicher Motors is a leader in the premium motorcycle segment, where it holds market share of over 85 per cent under the Royal Enfield (RE) brand. The company's joint venture VE Commercial Vehicles (VECV) with Volvo, where it holds 54.5 per cent stake, gives it a strong footing in commercial vehicles (CVs). The company had good results in FY23 and it has a strong balance sheet and good operating margins.
Pawan Munjal, chairman and managing director of Hero MotoCorp, the country's biggest two-wheeler maker, leads the pack among automobile CEOs.
Company managements need to "curtail the kind of expenditures on themselves personally" with the COVID-19 pandemic highlighting the need to build internal resources with a frugal style of functioning, Maruti Suzuki India chairman R C Bhargava said on Tuesday. Addressing shareholders in the company's annual general meeting held virtually, he also termed as "a good development for the whole of industry" recent shareholder actions that did not approve expenditures by management on themselves, without specifying details. In the wake of the pandemic, building internal resources has to become a priority of industry and companies.
Eicher Motors Ltd on Thursday forayed into engineering services outsourcing with the acquisition of US-based company Design Intent Engineering and said it expected the new business to contribute $100 million in the next four years.
High powered motorcycle maker Royal Enfield on Thursday said it aims to double sales to 60,000 units in the next three years with latest products on an altogether new engine platform.
Royal Enfield's sales are equivalent to the global sales of Harley-Davidson, KTM, BMW, Triumph, and Ducati combined, but Bajaj's MD has a counterview.
The calculation excludes cross-holding of listed group cos in each other.
The one common theme across companies that have rewarded shareholders is consumption.
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
However, Enfield said Bajaj was celebrating too early.
At Rs 18,400 per share, value up 100 times since Lehman crisis
Enfield enjoys almost the entire 250-350 cc motorcycle market in country
Can the Bajaj-Triumph tie up overtake the beloved Royal Enfield?
Royal Enfield sees its scale and dominant market share as adequate buffers against Bajaj's recent challenges, says Ajay Modi.
T N Ninan lists a few David-Goliath encounters in the Indian markets, all of which make life interesting, though difficult if you are an investor looking for the next multi-bagger.
Cruising comfortably in the 70s, Royal Enfield sputtered to a stop in the 90s, before its comeback in the first decade of the 21st century.
An excerpt from Conde Nast India's Make In India magazine.
For an increasing number of bike enthusiasts, the Royal Enfield is becoming a way of life
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