FADA Releases Aug'24 Vehicle Retail Data For The State Of Karnataka

The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for Aug'24 for the State of Karnataka.

Aug'24 Retails

Commenting on how Aug'24 performed, FADA Karnataka State Chairperson, Mr Dharma Teja G said, “The sales for the month of August 24 has seen a positive trend YOY. However, this was on the back of reduced foot falls due to heavy rains in several pockets of the state. The higher inventory levels are a cause of concern for the dealer fraternity across the different categories. The dealers are hoping for a strong beginning to the festive season which might help reducing the inventory to a healthy level.”

Indian Immunologicals Limited Unveils Pediatric Dose Of Indigenous Hepatitis A Vaccine, Havisure, On Teachers' Day

On the auspicious occasion of Teachers' Day, Indian Immunologicals Limited (IIL) proudly announced the launch of its latest breakthrough: the pediatric dose of India's first indigenous Hepatitis A vaccine, Havisure (0.5 ml).

This launch marks a significant milestone in IIL's ongoing commitment to providing affordable and effective vaccines for all, especially for the most vulnerable sections of society, particularly children.

Hepatitis A is a highly contagious liver infection caused by the Hepatitis A virus, which predominantly affects children and can lead to severe health complications. Vaccination is the most cost effective yet efficient method to prevent the disease.

Addressing on the occasion, Dr. K. Anand Kumar, Managing Director of Indian Immunologicals Limited, said, "We are delighted to introduce the pediatric dose of Havisure, the first indigenously developed Hepatitis A vaccine in India. IIL is the single largest contributor to the self-sufficiency of vaccines in the country, this launch is a testament to IIL's unwavering dedication to innovation and public health. As we celebrate Teachers' Day, we are reminded of shaping a brighter future for children. We are confident that this vaccine will contribute to a brighter and healthier future for our younger generation. IIL’s endeavor to make indigenous vaccines will give necessary impetus to “Make in India” efforts.”

In line with its commitment to public health and social responsibility, IIL marked this significant launch with a series of community-focused activities. IIL organized free Hepatitis A vaccination drives for children in two orphanages in Hyderabad to start with, which includes one specifically for blind children. IIL also conducted a health awareness session at an old age home, and these are continuous efforts towards creating awareness and better health for the community at large.

The launch of Havisure reinforces IIL's long-standing commitment to innovation and public health, solidifying its position as the only company in India to develop an indigenous Hepatitis A vaccine, available in both 0.5 ml and 1 ml dosage forms for pediatric and adult use, respectively.

byteXL Partners With Microsoft To Launch B. Tech In Computer Science - AI And Machine Learning Apecialization at Universities

* B. Tech CSE specialization in AIML designed to help students become industry leaders

* Tech giant Microsoft to act as knowledge partner

* Guaranteed placement and paid internship opportunities offered as part of this partnership.

byteXL, a leading EdTech platform in India dedicated to revolutionizing engineering education and IT skilling has partnered with Microsoft for the launch of B.Tech in Computer Science - Artificial Intelligence and Machine Learning specialization at ten premier Universities across India that include Lovely Professional University, Parul University, Chandigarh University, GLA University and Rayat Bahra University.

In this strategic partnership with the universities, byteXL will be acting as an executing agency for the program and will be deploying Microsoft-Certified trainers to deliver the syllabus at the campus. During the course period, students will work on the latest tools and technologies in Artificial Intelligence and Machine Learning and will receive Microsoft certificates as a part of their regular syllabus. Tech giant Microsoft is the knowledge partner for this specialization and apart from Microsoft certifications, students will receive a paid internship during the course period and guaranteed placements with above the average industry placement offers.  

Speaking about these partnerships with the Universities, Mr. Karun Tadepalli, CEO and Co-Founder, byteXL said, “Introduction of Artificial Intelligence and Machine Learning not only make the engineering students industry ready but also help them compete for global opportunities. During this specialization course of four years in AI and ML, we will ensure that the students are exposed to the latest trends and technologies that are shaping the future of global technologies. This course will help in reducing the gap between engineering education and industry requirement and make the students industry leaders.”

Speaking on this occasion Mr. Sami Anand, Associate Dean and Head of Department Training and Placement, CSE and IT, Lovely Professional University said, "We are thrilled to partner with Microsoft and byteXL in this transformative initiative to advance education in Artificial Intelligence and Machine Learning. This partnership is committed to empower students with cutting-edge skills and industry-relevant certifications, ensuring that they are well-prepared for the evolving demands of the tech industry."

Adding to the partnership Mr. Santosh Nair, Sr. Director, Parul University has expressed his views; "Our collaboration with Microsoft and byteXL marks a significant milestone in our mission to revolutionize engineering education and IT skilling in India. By combining byteXL's educational expertise with Microsoft's technology leadership, we aim to provide students with unparalleled opportunities for learning and career advancement in Artificial Intelligence and Machine Learning."

Capri Loans Unveils “Data Genie AI To Revolutionize Data Management And Drive Real-Time Insights”

* Leveraging AI to Enhance Data Management and Accelerate Customer-Centric Decisions

Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, proudly announces the launch of “Data Genie”, an AI-powered tool that promises to transform data management across the organization. This innovative technology is designed to simplify complex data operations, streamline decision-making processes, and enhance operational efficiency, reinforcing Capri Loans' dedication to delivering superior customer experiences through cutting-edge solutions.

Developed in-house, Data Genie empowers users to ask any data-related question via a user-friendly search interface, generating actionable insights in real-time. The AI-driven tool automatically writes and executes code in seconds, transforming raw data into visually rich reports and dashboards. This significantly reduces the time needed for data interpretation and fastens the decision-making process across departments.

Data Genie enables faster, more accurate insights, paving the way for quicker, data-driven decisions. By automating data retrieval and minimizing paperwork, it simplifies processes, ensuring a seamless experience.

Speaking on the launch, Ms. Divya, Director of Strategy at Capri Loans, commented: "We are thrilled to introduce Data Genie, an entirely in-house development that underscores our commitment to innovation. This is a pivotal step in our long-term strategy to integrate advanced technology and improve operations through proprietary solutions tailored to our needs. By investing in top-tier talent and prioritizing innovation, we aim to enhance customer experience and drive superior service for our clients."

In today’s fast-paced, data-centric environment, rapid access to accurate insights is paramount. Data Genie not only enhances Capri Loans’ internal operations but also reinforces the company’s mission to provide state-of-the-art solutions that meet the evolving demands of its customers.

The Federation of Automobile Dealers Associations (FADA) Released Vehicle Retail Data For Aug'24

The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for Aug'24.

Aug’24 Retails

FADA President, Mr. Manish Raj Singhania, commented on the auto retail performance for August 2024, stating, “In August, India witnessed 15.9% excess rainfall across the country, with northwest India seeing a surplus of 31.4%, 7.2% in the east and northeast, 17.2% in central India and a minor deficiency of 1.3% in the peninsular region. This monsoon season brought unpredictable weather, starting with extreme heat waves which delayed monsoon and transitioned into heavy rainfall, leading to flood-like conditions in several areas.

These weather anomalies have had a direct impact on India's auto retail market, which registered a modest YoY growth of just 2.88% in August. While the two-wheeler (2W) and three-wheeler (3W) segments managed to post growth at 6.28% and 1.63%, respectively, other categories faced significant setbacks. Passenger vehicle (PV) sales declined by 4.53%, tractor sales dropped by 11.39% and commercial vehicles (CV) saw a 6.05% drop, underscoring the challenges the industry is grappling with, due to these volatile conditions.

The 2W market saw a MoM decline of 7.29%, largely due to excessive rains and flooding, which disrupted demand across various regions. Many customers postponed their purchases, anticipating new product launches, while others deferred due to market saturation and changing preferences. Limited marketing efforts from OEMs and subdued market sentiment further impacted sales. Despite these headwinds, the 2W segment grew by 6.28% YoY, thanks to improved stock availability and the onset of the festive season. Our retail strength index also indicates that rural sentiments remained strong on a YoY basis.

FADA is raising SOS signals as PV sales fell by 3.46% MoM and 4.53% YoY. Even with the arrival of the festive season, the market remains under significant strain due to delayed customer purchases, poor consumer sentiment and persistent heavy rains. Inventory levels have reached alarming levels, with stock days now stretching to 70-75 days and inventory totalling 7.8 lakh vehicles, valued at an alarming Rs.77,800 crore. Rather than responding to the situation, PV OEMs continue to increase dispatches to dealers on a MoM basis, further exacerbating the issue.

FADA urgently calls upon all Banks and NBFCs to intervene and immediately control funding to dealers with excessive inventory. Dealers must also act swiftly to stop taking on additional stock to protect their financial health. OEMs, too, must recalibrate their supply strategies without delay, or the industry faces a potential crisis from this inventory overload. If this aggressive push of excess stock continues unchecked, the auto retail ecosystem could face severe disruption.

Commercial vehicle sales experienced a sharp drop, with an 8.5% MoM decline and a 6.05% YoY fall. Members have pointed to key challenges, such as heavy rains, floods and landslides, which have severely impacted market activity. Additionally, reduced construction activity and sluggish demand in industrial sectors have further strained sales. The CV segment continues to struggle, facing pressure from steep discounting by competitors, which has only intensified the decline. Weak sentiment, coupled with inventory and cash flow challenges, continues to affect the industry overall.”

Near-Term Outlook

As we approach the festive season, there are several challenges that could impact auto sales in the near term. India experienced 16% above-normal rainfall in August, with additional rainfall forecasted for September, according to the IMD. This excessive rainfall poses a significant risk to crops nearing harvest, particularly those planted in late June with a 75 to 90 days maturity cycle. Continued heavy rains could negatively affect rural sales, as reduced agricultural output may lead to diminished purchasing power.

Additionally, the Shraddh period in September, regarded as an inauspicious time for purchases, is expected to pause sales for some time. In the CV segment, sluggish construction activity, liquidity issues and weather-related disruptions are likely to suppress demand further. Aggressive discounting practices continue to pressure dealers, leading to reduced profitability and a generally cautious market sentiment.

On the positive side, the upcoming festivals, such as Ganesh Chaturthi, Onam and Navratri, are expected to boost consumer sentiment, especially in urban areas. Moreover, favourable rainfall in certain regions has improved agricultural prospects, which could enhance purchasing power in rural areas as the monsoon subsides. In the CV segment, increasing demand for iron ore, steel transport, and tippers offers a potential lift, supported by new model launches and marketing efforts from OEMs.

Given these factors, FADA remains cautiously optimistic about the near-term outlook. While the festive season and improved rural demand present promising opportunities for growth, ongoing weather uncertainties and high inventory levels may temper the overall recovery. To navigate these challenges, strategic inventory management and targeted marketing initiatives will be crucial in maximizing festive sales and mitigating risks from adverse weather conditions.

Chennai, Ahmedabad, And Kolkata Emerge As Most Affordable Metros For Residential Investments: Magicbricks

The Indian real estate market is currently experiencing a bull run, marked by soaring prices and escalating demand. At the same time, household incomes across the top 10 cities increased at a CAGR of 5.4%, while property prices surged at a CAGR of 9.3% (between 2020-2024). This growing gap in income and property price growth rates has weakened affordability.

Elaborating on the same, Magicbricks’ flagship report “Housing Affordability in Major Indian Cities” revealed that the Property Price to Annual Household Income Ratio (P/I Ratio) in India has increased from 6.6 in 2020 to 7.5 in 2024 (higher than the globally accepted benchmarks of 5). Based on the P/I Ratio, the report observed that Chennai (5), Ahmedabad (5), and Kolkata (5) are among the most affordable cities for residential investments in 2024, while the Mumbai Metropolitan Region (14.3) and Delhi (10.1) emerged as the least affordable.

Explaining the trends, Sudhir Pai, CEO, Magicbricks shared "Between the latter half of 2021 and 2022, residential investments were at their most affordable. During this period, the market was experiencing a resurgence, characterized by low interest rates, recovering household incomes, and modest increase in residential prices. However, homeownership sentiment has since peaked, resulting in demand significantly outpacing available supply, leading to a rapid and substantial surge in residential prices, presenting new challenges for affordable housing."

Furthermore, the report revealed that the EMI-to-monthly income ratio in India has risen from 46% in 2020 to 61% in 2024, indicating a growing burden of EMIs on home buyers and reflecting affordability concerns nationwide, especially metros. The trend is more pronounced in MMR (116%), New Delhi (82%), Gurugram (61%) and Hyderabad (61%). In contrast, cities like Ahmedabad (41%), Chennai (41%) and Kolkata (47%) are relatively more affordable.

The report concluded that the current situation is likely to hit equilibrium conditions with market trends indicating a deceleration in price growth due to an anticipated increase in residential supply.

Affordability indicates the proportion of property price to annual household income. So, if the affordability of a city is 3.7, this means the average property price in the city is 3.7 times the average annual household income.

Magicbricks is India’s No.1 property site

As the largest platform for buyers and sellers of property to connect in a transparent manner, Magicbricks has monthly traffic exceeding 2 crores and an active base of over 15 lakh property listings. Magicbricks has metamorphosed into a full stack service provider for all real estate needs, with services including home loans, interiors, and expert advice.

With 17+ years of experience and deep research-based knowledge, Magicbricks also presents a repertoire of insight-driven platforms like MBTV- India’s leading online real estate YouTube channel, and other proprietary tools so that home buyers can access all information related to price trends and forecasts, locality reviews and more.

Jammu Based DeVANS Forays Into Premium Lager Segment, Expands Six Fields Bouquet With Brute And Pilsner

Indian alcobev leader DeVANS has expanded the universe of its Brussels Award winner, Six Fields to foray into the Premium Lager segments. Six Fields has gone bold with its new strong variant Six Fields Brute while its Six Fields Pilsner is the ideal premier lounging partner allowing you to hold on to the good. The Six Fields umbrella presently consists of two Belgian Style Wheat Beers – Six Fields Blanche and Six Fields Cult – based on the world’s oldest brewing recipe while Six Fields Brute and Six Fields Pilsner mark the brand’s debut into the premium lager domain. Taking a boxful of multinational brands in the segment head on, the latest launches by the homegrown alcobev leader cater to the evolving consumer palate and are initially available in Jammu and Kashmir, Ladakh, Delhi, Uttarakhand, Rajasthan and Jharkhand.

Sharing his thoughts on the Six Fields portfolio expansion, DeVANS CMD Mr Prem Dewan said, “As a pioneering partner in the growth journey of the Indian beer market, we truly understand the pulse and demands of the consumer. One of the first homegrown wheat beers with a lineup of accolades and awards, Six Fields is testimony to the innovative streak that DeVANS has instilled in the domestic beer market. We are elated to expand the Six Fields bouquet into the premium strong and lager beer segments, catering to a much wider consumer base. The Six Fields bouquet now has something for every discerning consumer.”

He further said that Six Fields already stands tall as a youthful and exciting brand brewing fresh experiences rather than merely being a run-of-the-mill wheat beer. Six Fields Brute is the first strong lager variant in the iconic range, embodying a robust, full-bodied beer that promises a rare experience for the bold consumers while Six Fields Pilsner is an exceptionally smooth lager with a crisp, clear, golden colour and a refreshing taste. Six Fields Brute symbolises a brave, fearless persona and offers up to 8% ABV. Six Fields Pilsner on the other hand is a light, refreshing beer with up to 5% ABV.

Six Fields Belgian Style Wheat Beers are among the rare beers in India that have won multiple accolades both nationally and internationally. This includes medals at the global Brussels Beer Challenge, Spiritz Selection Awards and many others. Besides Six Fields, DeVANS is also home to award-winning Indian beers such as Godfather and Kotsberg.

With an overall brewing capacity of more than 1,80,600 KL owing to pan-India strategic production tie-ups across regions like Jharkhand, Arunachal Pradesh, Uttar Pradesh, Tamil Nadu etc, DeVANS has emerged as the leading Indian brewer over the past few years competing with international brands in the domestic market. Based out of Jammu, DeVANS is also the country’s oldest manufacturer of premium quality malt spirits and holds a key position in the Indian Single Malt segment with its flagship GianChand Single Malt Whisky that has won multiple awards and rave reviews worldwide from the likes of global whisky guru Jim Murray.