According to a Fitch report demonetisation has led to problems in repayment of auto loans. Borrowers of such loans, the report mentions, have been the most affected. Demonetisation is said to have a detrimental effect on the income and cash flows of commercial vehicle operators. This could continue to feed through into repayments spanning across the next few months. Fitch[Read More…]
Automotive lighting systems tier supplier, Lumax Industries, has earmarked Rs.100 crore for expansion of its existing facilities and make operational changes over the next one year. In a regulatory filing, the company is known to have said that the board has approved a capital expenditure plan of up to Rs.100 crore over a period of 12 months to expand the[Read More…]
In a report released by Dun & Bradstreet, the auto sector is set to maintain its momentum in 2017 across all categories. Admitting that there will be some uncertainly around GST, and because of the impact of demonetisation, growth in 2017 as far as commercial vehicles are concerned, will be driven by replacement demand, the report mentions. Stressing upon 7.7[Read More…]
Tata Motors and Castrol have entered in a three-year strategic partnership agreement for supply of commercial vehicle oils to Tata Motors globally. Both the companies are looking forward to leverage their complementary strengths. The agreement covers 50 markets including SAARC and ASEAN region, Middle East, Africa, Russia and Latin America. Castrol with its established presence in these markets, will support[Read More…]
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