German luxury carmaker Mercedes-Benz India has announced the appointment of Emrah Ozer as its new Chief Financial Officer. He succeeds Evren Cakabey, who will take on the role of Executive Director & CFO, Mercedes-Benz, Austria.  

Prior to taking over the new role, Ozer served as the Member of the Board of Management and Head of Finance & Controlling, Mercedes-Benz Otomotiv Turkey.

Santosh Iyer, Managing Director & CEO, Mercedes-Benz India, said, “We are excited to welcome Emrah Ozer to Mercedes-Benz India as the Chief Financial Officer and benefit from his rich expertise in managing International Finance, business modelling and investor relations. We are confident, Emrah with his diverse international financial experience and proven track record, will continue Mercedes-Benz’s growth momentum in India.”

“We also thank Evren Cakabey for her extraordinary contribution towards Mercedes-Benz India’s profitable growth, amidst adverse market challenges and economic headwinds. Evren played a key role in steering the growth strategy for the Indian market, evolving our EV strategy, and developing localization strategies with cost efficiency targets. She had been instrumental in ensuring financial stability for Mercedes-Benz India’s ‘direct to customer’ business model (Retail of the Future). A thorough people person, Evren spearheaded Mercedes-Benz India’s Diversity & Inclusion initiatives with focused project steering. Her financial acumen and insights, strategic leadership and people orientation are highly valued by our employees, and we all wish Evren continued success in her new role at Mercedes-Benz G, Austria.”

Furthermore, Ozer would also join the Board of Mercedes-Benz India as Executive Director in due course of time.

In his past roles Ozer has been credited with managing relationship with multiple stakeholders including banks, governments and investors. He has held various senior positions within Finance & Controlling for Mercedes-AMG, Mercedes-Benz and smart where he was responsible for the region India and NAFTA.

JLR has launched the Defender 25MY lineup with new V8 P425 engine in three distinct body styles – Defender 90, 110 and 130. The Defender 25MY delivers 313 kW of unmatched power and versatility and is available at a starting price of INR 13.90 million ex-showroom.

The Defender 25MY model comes with advanced technologies such as Terrain Response and Configurable Terrain Response for optimal performance on diverse surfaces, Electronic Air Suspension and Adaptive Dynamics for superior ride quality and all-terrain tyres and 50.8 cm Satin Dark Grey wheels for durability and style. The Defender 25MY features premium upgrades including 14-way heated and cooled electric memory front seats with ebony interiors and winged headrests, second row climate seats with winged headrests, nubuck-edged carpet mats, suedecloth headlining, leather steering wheel, Windsor Leather and KvadratTM or UltrafabricsTM seats.

The interior features PiVi Pro Technology Suite with an 11.4-inch touchscreen, Interactive Driver Display and 3D Surround Camera along with configurable cabin lighting, matrix LED headlights with DRLs and sliding panoramic roof. To top it up, it features Meridian sound system, front centre console refrigerator compartment and soft close tail door. The 25MY lineup comes with customisable features including Black Contrast Roof with Cold Climate and Family Comfort Packs. The lineup also boasts ADAS packs such as OffRoad Pack, Advanced OffRoad Pack, Dynamic Handling Pack and Air Suspension Pack.

Rajan Amba, Managing Director, JLR India, said, “The Defender represents the pinnacle of capability and refinement in our product lineup. With the new V8 P425 engine and a host of advanced comfort features such as New individual Captain Chairs, we are proud to offer our customers a vehicle that seamlessly combines luxury, comfort, innovative technology and all-terrain prowess. It is a testament to our commitment to delivering unmatched experiences on and off the road, hence it’s the top runner in its segment.”

The automotive retail sales in India saw a decline of 12.49 per cent in December, with 17,56,419 units registered, compared to 20,07,042 units last year, according to data released by the Federation of Automobile Dealers Associations (FADA).

In terms of segment-wise performance, two-wheeler sales came at 11,97,742 units, down 17.6 percent YoY, three-wheeler at 93,892 units, down 4.5 percent YoY, passenger vehicle sales at 2,93,465 units, down 1.9 percent YoY and commercial vehicles at 72,028 units, down 5.2 percent YoY. In contrast, tractor sales were in the green at 99,292 units, up 25.7 percent YoY.

The decline in sales for petrol-powered two-wheelers were attributed to low cash flow, poor market sentiment, supply challenges for popular models and growing shift towards electric vehicles.

FADA President C S Vigneshwar stated that despite heightened discounts and limited financing options failed to offset demand. In the passenger vehicle space, dealers were looking to offload the high inventory buildup following the festive season and aggressive discounting to clear stocks. But poor market sentiment, limited new model launches and intense price competition had impacted the PV segment.

For the commercial vehicle segment, the slowdown was attributed to low market sentiment, delayed government fund releases and slow financing approvals. Barring tippers, LCV degrowth and unseasonal rains further added to retail slowdown.

For CY2024, the auto retail sales grew 9.1 percent YoY at 2,61,07,679 units as against 2,39,28,293 units sold last year. This includes two-wheelers growing by 10.7 percent YoY, three-wheelers at 10.4 percent YoY, passenger vehicles at 5.1 percent, tractor at 2.5 percent and commercial vehicles reporting flat growth respectively.

“Despite multiple headwinds in CY24 – including heatwaves, elections at both central and state levels and uneven monsoons – the auto retail industry remained resilient, closing the year with a 9% YoY growth. Notably, three-wheeler, passenger vehicle and tractor segments touched new all-time highs and two-wheeler barely missed surpassing its CY18 peak. CV is also yet to reach its CY18 peak, a year which saw the introduction of axle load norms,” said Vigneshwar.

Outlook remains positive

The auto dealer body expects that the coming months will see stable growth two-wheeler, commercial vehicles and passenger vehicles to remain in the green.

The confidence stems on the back of improvement in rural liquidity, evolving government policies, new product launches, infrastructure investments, stable credit availability to support the growth.

FADA stated that it remains optimistic on market recovery, coupled with strategic OEM support and policy-level clarity, that will enable retail sales to end CY2025 on a robust note.

Cars24, one of the leading autotech platform in India, has elevated Himanshu Ratnoo to the position of Chief Executive Officer (CEO) of its used cars business.

In his new role, Ratnoo will be responsible for Cars24’s C2B and retail operations. The company credits him for initiative such as developing franchise models, lead monetisation and revamping luxury car transactions.  

The announcement was made by Vikram Chopra, Founder and CEO of Cars24, in an internal email to the organisation, where he commended Ratnoo’s leadership skills.

Maruti Suzuki India, one of the largest passenger vehicles manufacturers in the country, has attained another milestone. The company’s popular Dzire sedan has crossed cumulative production milestone of three million units.

It was in 2008, Maruti Suzuki India had first introduced the Dzire sedan in the country, followed by the second generation and third generation in 2012 and 2017 respectively. The first million production milestone was achieved in April 2015, taking seven years, followed by two million production milestone in June 2019 achieved in four years.

And now the three million production milestone in under four years, despite the lull witnessed during the Covid-19 period. With this Dzire now becomes the fourth model for Maruti Suzuki India to achieve the significant milestone joining the likes of Alto, Swift and WagonR.

Hisashi Takeuchi, MD & CEO, Maruti Suzuki India, said, “We are deeply grateful to our customers for their continued trust, which has been a key to achieving the milestone of 3 million production for the Maruti Suzuki Dzire. Their feedback and support inspire us to continuously improve and innovate, ensuring the Dzire exceeds their expectations. The latest Dzire, launched last month, exemplifies this commitment, setting a new benchmark with its modern design, advanced features, and exceptional fuel efficiency. Over the years, Dzire has significantly contributed to our sales, making us the sedan segment leader for 16 consecutive years*. I also extend my heartfelt gratitude to our dedicated team members and value chain partners for their hard work and commitment.”