Tag: Sales

Indian used vehicle sales gains momentum: Droom reports
Business

Indian used vehicle sales gains momentum: Droom reports

Jun 3, 2022 by Agency 0 Comments #Droom, #Indian used vehicle, #Sales

Droom, India’s pioneering automobile e-commerce platform today revealed that the company has witnessed a CAGR of 44% between 2019 & 2021 and has showcased a steep growth of 58% in 2022 (YTD) owing to the increase in used vehicle adoption during the pandemic.

The Indian online used vehicle market was valued at INR 154 billion in FY21 and is projected to reach INR 1,994 billion by FY26, registering a CAGR of 66.9%. Used automobile markets online penetration is expected to be close to 10% by FY26 which is at approximately 2% currently. This projection is the outcome of the shift in customers’ preference towards buying of used vehicle online, preference of personal mobility override sharing, unwarranted physical dealership, and availability of multiple price options in used vehicles. Moreover, due to the uncertain economic environment post-COVID-19, used vehicles are witnessing even stronger demand.

In its latest report, droom also revealed that the used car market is one of the best performing categories in the automobile industry. Few of the key factors that are driving the growth of India’s fast-evolving used vehicles market includes migration from BS4 to BS6 which resulted in hike of new vehicles prices, semiconductor chip shortage and lack of clarity on EV infrastructure.

Speaking on the report, Sandeep Aggarwal, Founder and CEO, droom, said, “The used vehicles market is topping all charts and is now one of the hottest categories in the current times. While Droom has always been on a growth journey, it is still surprising to see this market flourishing at an unprecedented pace. Pandemic turned out as a blessing in disguise for the used vehicle industry and has shifted consumers preferences towards used vehicles vs new vehicles. We expect this growth to continue in the upcoming months and hope that more and more consumers will make the most of this fast-growing market.” 

Droom has been offering a wide range of 15+ automobile categories starting from bicycles to planes to commercial vehicles to earth moving vehicle to EVs and many more on its platform. Droom has 300K+ on time supply of automobile on its platform coming from 1150+ cities across India.

Toyota Kirloskar Motor registers 66% growth in wholesales in September 2022
Business

Toyota Kirloskar Motor wholesales 15,085 units in the month of April thereby registering a growth of 57 Percent

May 2, 2022 by Rekha Nair 0 Comments #and Strategic Marketing, #Associate Vice President, #Mr. Atul Sood, #Sales, #TKM

Bangalore, May 2022: TKM today announced that the company sold a total of 15,085 units in the month of April 2022, thereby registering a growth of 57% when compared to its wholesales in the corresponding period last year. For reference, TKM had sold 9600 units in April 2021. Last month also witnessed TKM achieving a significant milestone of clocking cumulative wholesales of over two million units since inception.

Expressing his delight, Mr. Atul Sood, Associate Vice President, Sales, and Strategic Marketing, TKM said, “Demand continues to peak in the new Financial year, as we close the month of April with an overall growth of 57% over wholesales in April 2021. Along with the Crysta, Fortuner and the Legender, the Camry Hybrid too has received very encouraging booking orders. The response to the ‘Cool new Glanza’ has also been Awesome and has done very well since the beginning of its deliveries starting March this year, right from Tier I cities to rural markets”.

Overview of TKM

Company name Toyota Kirloskar Motor Private Limited
Equity participation TMC: 89%, Kirloskar Systems Limited (Mr. Vikram S. Kirloskar): 11%
Number of employees Approx. 6,000
Land area Approx. 432 acres (approx.1,700,000 m2)
Building area 74,000 m2
Total Installed Production capacity Up to 3,10,000 units

Overview of TKM 1st Plant:

Established October 1997 (start of production: December 1999)
Location Bidadi
Products Innova, Fortuner manufactured in India. Vellfire imported as CBU
Installed Production capacity Up to 1,00,000 units

Overview of TKM 2nd Plant:

Start of Production December 2010
Location On the site of Toyota Kirloskar Motor Private Limited, Bidadi
Products Toyota Camry Hybrid
Installed Production capacity Up to 2,10,000 units

GReminders Announces Team Scheduling for Sales, Support and Service Professionals
Business

GReminders Announces Team Scheduling for Sales, Support and Service Professionals

Feb 10, 2022 by Praveen 0 Comments #GReminders, #Sales, #Service Professionals, #Support, #Team Scheduling

GReminders, an appointment scheduling and SMS client reminders application based in Los Angeles, California, announces the release of Teams. Team scheduling allows sales, support, and service professionals to share scheduling calendars, enabling clients to schedule appointments with randomized individual team members using round-robin scheduling or schedule with an entire team using all-together scheduling.

When prospective clients cannot schedule initial meetings at their earliest convenience, it opens the door for competitive shopping. Likewise, frustration and irritation are introduced into the vendor-client relationship when customers experience service or support delays due to inefficient scheduling.

Automated team scheduling eliminates needless sales or service delays and potential customer dissatisfaction by greatly expanding client appointment scheduling options.

GReminders’ marketing director, Mark Hill, explains, “GReminders is already one of the most robust appointment reminders systems in the marketplace, with features like expandable conditional logic and text, email and voice capabilities. With the addition of Teams, GReminders is now one of the most powerful automated scheduling platforms as well.”

GReminders includes the Team feature with any paid plan. Individuals can also evaluate Team scheduling during their seven-day free trial.

Auto RIK CNG
Business, News

Atul Auto partners with CSC Grameen eStore

Jul 22, 2021 by Rekha Nair 0 Comments #and Marketing, #Atul Auto Ltd, #Director, #Mr. Niraj Chandra, #Mr. Pushkar Sinha, #Sales, #Vice President

Bengaluru: Atul Auto Ltd, is the first amongst leading 3 wheeler OEMs to partner with CSC Grameen eStore, an e-commerce initiative by CSC eGovernance Services India Ltd to promote digital ordering and delivery in rural areas. As a part of the partnership, the automaker’s product range will be listed on CSC Grameen eStore and made available to potential customers in hinterlands and deep rural areas through aspirational VLEs (village level entrepreneurs).

The joint digital launch was done by Dr. Dinesh Tyagi, MD-CSC SPV, Shri Raja Kishore, COO – CSC Grameen eStore, Mr. Niraj Chandra, Director, Atul Auto Ltd, and Mr. Pushkar Sinha, VP Sales, and Marketing, Atul Auto Ltd.

Speaking on the occasion, Mr. Niraj Chandra, Director, Atul Auto Ltd, said, “Atul Auto Ltd has developed a robust process to generate demand for its wide range of three-wheeled products through VLEs who will help list the products on CSC Grameen eStores. The VLEs will further promote, generate inquiries, and facilitate the sale to end customers in rural areas through the support of the nearest Atul Auto authorized dealerships.”

Mr. Pushkar Sinha, Vice President, Sales, and Marketing, Atul Auto Ltd, said, “There are more than 5000 Tehsils and Talukas in the country and marketing our wide product range of CNG, LPG, Diesel and electric three-wheelers through the CSC Grameen eStore network of VLE’s presents an exciting opportunity to reach untapped markets. It is also a win-win situation for the VLE’s who have been mapped with our vast network of more than 500 touch points across 22 states.”

ICICI Bank partners with ZestMoney to expand its ‘Cardless EMI’ facility
Business World, News

ICICI Bank executes its first SOFR linked transaction

Jan 22, 2021 by Rekha Nair 0 Comments #Group Head - Global Markets, #Head-International Banking, #ICICI Bank, #Mr. B. Prasanna, #Mr. Sriram H. Iyer, #Sales, #Trading and Research

Mumbai: ICICI Bank today announced that it has executed its first interbank – money market transaction linked with Secured Overnight Funding Rate (SOFR). The transaction, executed through the Bank’s Hong Kong branch on Wednesday, is part of the Bank’s Benchmark Transition Management plan to assess the preparedness towards a smooth transition to the new Alternative Reference Rates (ARRs).

SOFR has been identified as the replacement for USD LIBOR (London Interbank Offered Rate). Globally, there is a move to migrate from LIBOR to transactions linked to ARRs and it is expected that fresh transactions after December 2021 would not  be referenced to LIBOR.

Commenting on the transaction, Mr. Sriram H. Iyer, Head-International Banking, ICICI Bank said, “The Bank has been tracking the developments with respect to the benchmark reforms and has been working with various stakeholders to ensure smooth transition from LIBOR to new ARRs in the Indian market. With these transactions, we are working towards building internal capabilities to transition to the new ARRs in line with various regulatory timelines.”

Added, Mr. B. Prasanna, Group Head – Global Markets, Sales, Trading and Research, ICICI Bank, “Transition from LIBOR to ARR is a critical event in financial markets. ICICI Bank is at the forefront of the financial markets to help transit from LIBOR and the transaction is part of the transition initiatives by the Bank.”