The Federation of Automobile Dealers Associations (FADA) held its first Finance and Insurance Summit- 2022 in Mumbai. FADA said in a statement that the summit was organised to bring industry stalwarts on one platform to discuss the ongoing opportunities and challenges in the Indian Automobile industry with reference to finance and insurance. The leadership shared their views and vision for the sector and urged the industry to initiate some of the best practices for a better future.
Ashish Kumar Singh, IAS, Additional Chief Secretary (Transport & Ports), Maharashtra, along with some of the Industry leaders from finance and insurance sector attended the summit. B Ganesh Kumar, Founder and CEO, Kuwy Technology Service Pvt. Ltd; Rajan Pental, Sr. Group President and Global Head – Retail Banking Yes Bank; Ramesh Iyer, Chairman, FIDC & MD - Mahindra Finance; Amar J Sheth, State Chairperson Maharashtra; Vinkesh Gulati, President, FADA, and Manish Raj Singhania, Vice President, FADA, led the sessions, the release said.
Gulati said, “Throughout their existence, finance and insurance (F&I) have been the backbone of the Indian economy. In recent years, the F&I sector has made enormous contribution to the growth of the Indian automobile industry and the dealer community. Dealerships are a dynamic business and need finance support every off and on, the Finance and Insurance sector has really given us the best of their support we needed from them. Insurance and Finance Industry holds a significant role in revitalising the confidence of the industry both on supply and demand sides. As a representative of the entire fraternity, I would like to thank you for your continued support of our business model & giving it the trust it deserves. As we move forward, I assure you the dealer community will do its best to make this relation efficient and drive the sector forward."
The first power panel focused on the changing Dynamics of Automotive Industry and vehicle financing business. The session discussed crucial industry topics, such as continued supply chain constraints, high used-vehicle values, rising interest rates, increased cost of funds and revised MISP guidelines.
The power panel 1 was moderated by Sai Giridhar, Treasurer, FADA, along with industry stalwarts such as B Ganesh Kumar, CEO and Founder, Kuwy Technology Service Pvt Ltd; Ajay Raghuvanshi, Head Sales- India Region, Skoda Auto India P Ltd; Eric Vas, President (Urbanite Business), Bajaj Auto Ltd; Mahavir Agrawal, Head - Credit Risk (Retail & SME), YES BANK; and
Vikas Pandey, Executive Vice President & Business Head - Auto & Gold Loans, HDFC Bank Ltd.
The second power session focused on the Automotive Industry and Vehicle Insurance. The session discussed the current situation for vehicle insurance business in the automotive market. Vehicle Insurance has grown as a greater opportunity for dealers to sustain a longer relationship with the customer and retain the business opportunity at large for future.
The panellists for the Power Panel 2 were Anand Singhi, Chief Distribution Officer, Reliance General Insurance Co. Ltd; Gunasekhar Boga, Executive Director, IFFCO TOKIO General Insurance Co. Ltd; Jagjeet Siddhu, Senior EVP & Head, Multi-Channel Distribution, Kotak Mahindra General Insurance Co. Ltd; Parthanil Ghosh, President - Motor Business, HDFC Ergo General Insurance Co. Ltd and the session was moderated by C S Vigneshwar, Secretary, FADA.
The summit was further extended to FADA Dealership Excellence Awards 2022. Dr Avinash Dhakane, IAS, Transport Commissioner, Maharashtra, was the chief guest. Dr Pawan Goenka, Chairman IN-SPACe, Department of Space, Government of India and executives from Indian Automobile sector, Finance, and Insurance institutions, as well as representatives of FADA were also present.
The objective of the summit was to bring industry leaders together at one platform to explore future trends. The summit and award ceremony witnessed the participation of over 317 auto retailers and delegates from Maharashtra region, the release added. (MT)
Maruti Suzuki India Crosses 30 Million Unit Sales Milestone
- By MT Bureau
- November 05, 2025
Maruti Suzuki India, the country’s leading passenger vehicle manufacturer, has attained a new milestone by crossing the 30-million-unit sales milestone in the domestic market.
The new benchmark was attained by the company over a course of 42 years, with the first 10 million unit sales taking 28 years and 2 months to achieve.
The 20 million unit sales took 7 years and 5 months, while the recent milestone took just 6 years and 4 months.
Interestingly, the entry-level hatchback Alto was the most preferred model in the country, with over 4.7 million units sold, followed by Wagon R with 3.4 million units and the sporty Swift with 3.2 million units.
The Brezza and Fronx SUVs also played an instrumental role in contributing to the sales milestone, being featured among the top 10 models sold in the country.
It was on 14th December 1983, Maruti Suzuki India delivered its first model, the iconic Maruti 800, to its first customer.
Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “When I look at the length and breadth of India and think that 3 crore customers have placed their trust in Maruti Suzuki to realise their dream of mobility, it fills me with humility and gratitude. Yet, with car penetration at approximately 33 vehicles per 1,000 people, we know our journey is far from over. We will continue to make every possible effort to bring the joy of mobility to as many people as we can, while also be an asset to both the economy and the environment at the same time.”
Sharad Agarwal Is Tesla India’s First Business Head
- By MT Bureau
- November 04, 2025
American electric vehicle maker Tesla has appointed Sharad Agarwal, former Chief Business Officer of Classic Legends, as its new business head, according to a report by Bloomberg.
The report further stated that Agarwal joined the EV maker a week ago and is tasked to drive sales for Tesla in India, which as per industry observers, has not performed as per the company’s expectations.
Agarwal, an automotive industry veteran, had begun his career with TVS Motor Co as Area Sales Manager in December 2002, before joining Mahindra First Choice Wheels as its Business Head for North and Eastern region in March 2007.
It was in January 2013, he moved to Audi India as the head of Sales, before taking over as the head of Lamborghini India in April 2016, where he spent almost 9 years, before joining Classic Legends.
During his tenure at Lamborghini, the Italian super luxury car maker saw its dealerships across India achieved a Return on Sales (RoS) of more than 10 percent, setting a new benchmark for the automotive business in the country. He also grew India’s ranking for the automaker as the third market globally in terms of PR visibility in 2021.
He also expanded Lamborghini India’s reach to over 60 cities, with sales volumes from Tier 2 and Tier 3 cities contributing more than 25 percent of the total.
Tesla, which formally started deliveries in September 2025 with its first dealership in Mumbai and the second facility in Delhi, has till date delivered 114 vehicles, of the estimated 600-plus bookings.
File photo for representational purposes only.
Mahindra & Mahindra Reports INR 36 Billion Net Profit For Q2 FY2026
- By MT Bureau
- November 04, 2025
Mumbai-headquartered business conglomerate Mahindra & Mahindra has announced its financial results for Q2 FY2026 with consolidated Revenue reaching INR 461 billion, marking a 22 percent YoY growth.
The consolidated Profit After Tax (PAT) stood at INR 36 billion, a 16 percent increase YoY. The company stated that, excluding specific one-time impacts, PAT growth was 28 percent YoY.
Mahindra’s Auto business reported sales of 262,000 vehicles, up 13 percent, which includes around 146,000 SUV sales. This translated to a revenue of INR 271 billion, up 25 percent YoY, while net profit came at INR 15 billion, up 8 percent YoY.
On the other hand, the farm sector reported its highest ever Q2 market share at 43 percent with sales of 123,000 units, up 32 percent YoY. The revenue came at INR 102 billion, up 25 percent, while consolidated net profit came at INR 11 billion, up 45 percent YoY.
Dr. Anish Shah, Group CEO & Managing Director, Mahindra & Mahindra, said, “We are pleased with the strong execution and solid performance delivered across the group in Q2 FY2026. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45 percent PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential.”
Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), Mahindra & Mahindra, said, “Strong performance of our Auto and Farm businesses continues in Q2 FY2026 reinforcing our leadership position, with a gain of 390 bps YoY in SUV revenue share, and 100 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 43 percent market share. Our Auto Standalone PBIT margin (excl. e-SUV Contract Mfg.) improved by 80 bps to 10.3 percent and core Tractor PBIT margins improved by 190 bps to 20.6 percent.”
Amarjyoti Barua, Group Chief Financial Officer, Mahindra & Mahindra, “Our solid Q2 consolidated results reflects the strength of our diversified portfolio. We continue to deliver on our strategic priorities. We had strong cash generation in the first half, delivering over INR 100 billion of operating cash flow. We remain committed to sustainable growth and value creation.”
Hyundai Motor India Debuts All-New Venue And Venue N Line At Prices Starting INR 789,900
- By MT Bureau
- November 04, 2025
Hyundai Motor India Limited has globally launched the all-new Hyundai Venue and Hyundai Venue N Line, revising its popular compact SUV with prices starting INR 789,900 (ex-showroom).
The new Venue SUV is built on Hyundai’s Global K1 enhanced Platform. It has dimensions of 3,995 mm (Length), 1,800 mm (Width), 1,665 mm (Height) and a 2,520 mm Wheelbase.
The vehicle introduces the Connected Car Navigation Cockpit (ccNC) system, which NVIDIA accelerates. Technology includes Dual 62.5 cm (12.3-inch + 12.3-inch) curved panoramic displays and a 31.24 cm (12.3-inch) ccNC Navigation system. Up to 20 controllers are capable of Over-the-Air (OTA) vehicle updates.
Safety features include 6 airbags and Hyundai SmartSense ADAS Level 2 with 16 features. It is available with three powertrain options: Kappa 1.2-litre MPi petrol (5-speed manual transmission), Kappa 1.0-litre Turbo GDi petrol (6-speed manual or 7-speed DCT transmission) and U2 1.5-litre CRDi Diesel (6-speed manual or 6-speed automatic transmission).
The N Line is available in two variants, N6 (MT/DCT) and N10 (DCT). It is powered by the Kappa 1.0-litre Turbo GDi petrol engine. This engine delivers 88.3 kW (120 PS) and 172 Nm of maximum torque. Transmission options are a 6-speed manual or a 7-speed DCT. The vehicle includes paddle shifters, traction control modes and drive mode select. Technology features include the 31.24 cm (12.3-inch) ccNC Navigation system accelerated by NVIDIA, and up to 20 vehicle controllers capable of over-the-air (C-OTA) updates. For safety, the N Line is equipped with ADAS Level 2 with 21 features and over 70 advanced safety features. It features disc brakes on both the front and rear axles.
Unsoo Kim, Managing Director, Hyundai Motor India Limited, discussed the company's deep commitment to the Indian market, confirming an investment of over INR 450 billion. He noted that the all-new Hyundai Venue is the first product from the new Pune manufacturing plant and the first of 26 products planned by 2030.
"At HMIL, our commitment to India runs deep. We have recently announced an investment of over INR 450 billion, reaffirming our long-term vision for this vibrant market. The all-new Hyundai Venue marks the beginning of an exciting new chapter and it is the first product to roll out from our state-of-the-art Pune manufacturing plant and the first among the 26 products we plan to introduce by 2030. The launch of the all-new Hyundai Venue and Hyundai Venue N Line represents a significant milestone in our journey of automotive excellence," said Kim.
Tarun Garg, Whole-Time Director & COO, Hyundai Motor India, highlighted the Venue's strong market presence, with over 700,000 units sold and a consistent top-three position among compact SUVs in India. He confirmed that the all-new Hyundai Venue will be manufactured exclusively in India for global markets, supporting the 'Make in India for the World' vision.
"Since its debut in 2019, the Hyundai Venue has been one of the most successful nameplates in our SUV lineup, with over 700,000 units sold and a consistent position among the top three compact SUVs in India. Venue has played a pivotal role in strengthening Hyundai's SUV leadership and shaping our identity as a progressive and customer-centric brand. Preferred by young, aspirational working professionals who seek performance, Hyundai Venue has become a symbol of dynamic urban mobility and spirited individuality. With the launch of the all-new Hyundai Venue and Venue N Line, we are taking this success story to the next level. The new Hyundai Venue embodies disruptive design, advanced technology, superior safety and exhilarating performance, setting new benchmarks in the compact SUV segment. It also marks a proud moment for Hyundai Motor India, as the all-new Hyundai Venue will now be exclusively manufactured in India for global markets a true testament to the 'Make in India for the World' vision and the growing role of HMIL in Hyundai Motor Company's global strategy," said Garg.
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