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

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

Chart showing Vehicle Retail Data for Sep'24

Sep'24 Retails

Commenting on how Sep'24 performed, FADA Karnataka State Chairperson, Mr Dharma Teja G said, “September 24 saw a decline in overall retail sales, dropping by 10.11% YoY.  Except for 3W and Trac, which grew by 17.44% and 8.42% YoY respectively. Other categories such as 2W, PV and CV fell by 9.34%, 21.09%, and 12.23% YoY, respectively. The poor sales in these categories are attributed to low consumer sentiment, poor inquiries, and reduced walk-ins. Seasonal factors like the Shraddh period, and Pitrupaksha, further impacted demand, resulting in delayed purchases and a subdued market environment.”

Honda Cars India Introduces A New “Assured Buyback Program” During Its Great Honda Fest Delebration In Partnership With CARS24

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, has introduced an “Assured Buyback Program” in partnership with CARS24, India’s leading autotech platform. This unique programme has been introduced as part of The Great Honda Fest campaign, which aims to guarantee a future resale value for new Honda cars purchased, allowing buyers to have complete peace of mind.

As part of The Great Honda Fest’s triple bonanza benefits during October’24, customers can choose from various options, including cash discounts, maintenance packages, assured buyback programme, and stand a chance to win gold worth upto Rs 5 lakh. The newly introduced Assured Buyback Program allows buyers to celebrate their purchase today & drive confidently while ensuring their investment is secure for the future.

Commenting on the Assured Buyback Programme and the partnership, Mr. Kunal Behl, Vice President, Marketing & Sales, Honda Cars India Ltd. said, “Honda vehicles are known for their outstanding reliability, quality and long-lasting performance which contribute to their strong resale value. Our collaboration with CARS24 to introduce Assured Buyback Programme underscores Honda’s commitment to delivering exceptional value and peace of mind, ensuring that buyers not only enjoy a world class driving experience but also a secure and rewarding resale when it’s time for an upgrade.”

Talking about the partnership, Mr. Ruchit Agarwal, Co-Founder and Chief Financial Officer of CARS24 added, “When I bought my first car, I remember the excitement of every drive, but I also remember that quiet worry: ‘Will I get a fair price when I sell?’ That’s why this program means so much to me. The Assured Buyback Program is designed to give car owners the peace of mind I wish I had. With Honda’s reputation for unmatched quality this program will allow customers to simply enjoy their new cars, knowing that when the time comes, we’ve already secured their next step. It’s about lifting that weight off their shoulders and letting them focus on what truly matters—the drive.”

Key Benefits of the Assured Buyback Program:

No Depreciation Anxiety: Customers no longer have to worry about how much their car will depreciate over time. The guaranteed resale value offers peace of mind from the moment they drive off the lot.

Financial Flexibility: The assured buyback offers the flexibility to plan financial decisions better, especially for those looking to time major life changes, like a new home purchase or another big investment.

New Car Upgrades: Encourages smoother upgrades to more advanced and new energy models over time, contributing to both personal savings and environmental benefits.

Resale Certainty Even in Down Markets: In economic downturns or market slowdowns, customers can count on the guaranteed value rather than relying on unpredictable market conditions.

No Hidden Fees or Surprise Costs: Clear, upfront terms ensure that customers won’t be hit with hidden fees or unexpected charges when it’s time to resell.

Low Stress for First-Time Car Buyers: For customers who may be purchasing their first car, the program removes the guesswork and complexity involved in future resale value, making the entire car-buying process smoother.

In today’s fluctuating market, many car buyers prioritize resale value when making a purchase. The newly introduced Assured Buyback Program directly addresses this concern, ensuring that customers have certainty from the moment they drive their new Honda off the lot.

The Assured Buyback Program is available at all CARS24 outlets and Honda dealerships across India. This festive season, secure the future of your Honda and enjoy the journey ahead with complete confidence.

Ageas Federal Life Insurance Appoints Mr. Jude Gomes As New Managing Director (MD) & Chief Executive Officer (CEO)

Ageas Federal Life Insurance company limited is pleased to announce the appointment of Mr Jude Gomes as the new Managing Director & Chief Executive Officer, with the approval of Insurance Regulatory and Development Authority of India (IRDAI).

Mr Jude Gomes brings more than 30 years of local and international experience in senior positions in insurance and banking. He had successful stints as CEO at Manulife China Bank in the Philippines and more recently as CEO at Union Assurance PLC in Sri Lanka. Prior to that, he was Chief Partnership Distribution Officer for Manulife in Vietnam, and at HSBC Head Office based out of Hong Kong. In the past, he was part of the core team to set up India’s first private Life Insurer, HDFC Standard Life Insurance and was also a founding member of HSBC Canara Oriental Bank of Commerce Life Insurance in India. Until very recently, based out of Hong Kong, Mr Jude Gomes held the key position as Regional Director, Business Development at Ageas.

Expressing his views on the appointment, Mr. Jude Gomes said, “I am honored to take on the role of Managing Director (MD) & Chief Executive Officer (CEO) at Ageas Federal Life Insurance. With the support of our Board and all our dedicated employees, I will continue to uphold our core values of Care, Dare, Deliver and Share for all our stakeholders. We will establish new benchmarks and strengthen our position in India's insurance landscape. I look forward to our new journey of growth and success - together - as Team Ageas Federal Life."

Ageas Federal Life Insurance extends a warm welcome to Mr. Jude Gomes and wishes him all the best in this exciting new chapter.

The Luxury Group By Marriott International Reveals Culinary And Beverage Trends In The Future Of Food 2025 Report

The Luxury Group by Marriott International today released its new comprehensive report, The Future of Food 2025, which highlights the transformative power of the Asia Pacific region in shaping global culinary and dining trends. With insights from more than 30 top chefs, mixologists, and industry insiders from the region, the report identifies 10 macro trends influencing the food and dining industry and the region’s impact on global gastronomy.

With the Asia Pacific region at the epicenter of culinary tourism, commanding a remarkable 37.8% share of the global market in 2023, with a projected growth of USD 6.2 trillion by 2033*, this vibrant culinary landscape is powered by both tradition and innovative dining experiences, making it a magnet for food and drink enthusiasts from around the world.

“The Future of Food 2025 report highlights Asia Pacific's pivotal role in shaping global culinary landscapes," said Oriol Montal, Managing Director of Luxury for Asia Pacific excluding China, Marriott International. "With gastronomy having a significant influence on travel decisions, dining has become an essential component of the global tourism landscape. This report demonstrates our commitment to culinary excellence across all our Luxury Group brands. We will continue to evolve our gastronomy landscape alongside the F&B industry, providing our guests with dining experiences that highlight the region's rich heritage, flavors, and techniques."

Petr Raba, Vice President of Food & Beverage, Asia Pacific excluding China, Marriott International, added, "We're not just observing these trends; we are actively contributing to their creation and influence. We're investing in immersive food experiences, sustainable practices, and innovative technologies to enhance our restaurant and bar offerings in the region. By embracing these emerging trends, we're not only elevating our guests' dining experiences but also contributing to the evolution of the global culinary scene."

Key Trends Shaping The Future of Food

From Asia Pacific to the World

From the fusion of Japanese aesthetics into French cuisine, the rising influence of Korean flavours, to the innovative use of traditional spices and techniques from India and Mainland China reshaping Western norms, Asia Pacific is becoming a culinary export powerhouse. The return of diaspora chefs to their native countries infuses local scenes with international flair, showcasing native ingredients and revitalizing traditional recipes. This trend is further bolstered by a growing global appreciation for Asian hospitality and innovation, setting the stage for Asian cuisine to dominate global dining in the future.

Revival of forgotten ingredients and traditions

Amid rising environmental concerns, chefs have a deeper appreciation for labor-intensive traditions and forgotten ingredients, integral to Asia Pacific heritage. Across the region, chefs are not only preserving but innovating within their culinary traditions, from nose-to-tail cooking to artisanal jang production, making significant contributions to both their cultural heritage and global sustainability efforts.

Fine dining redefined: Hyperlocal hype and Superfine dining

Dining outlets are celebrating lesser-known regional cuisines, offering culturally enriching and gastronomically satisfying dining adventures. Fine dining establishments are pivoting towards exclusivity by elevating prices, limiting covers, and introducing membership-based access, creating unparalleled value for guests through exceptional experiences. Additionally, the emphasis on quality over quantity and shorter, faster, more relaxed dining experience in intimate settings is becoming prominent.

Wellness on the plate

The wellness revolution is influencing food choices. While anti-aging foods that support hormone balance and enhance dopamine levels gain popularity, longevity is the new luxury. Food is regarded as medicine, with restaurants shifting to offering nutritious, chef-curated menus that prioritize fresh, whole ingredients and transparent sourcing. Hyper-personalized diets powered by AI can provide meal recommendations based on individual physiological and psychological states.

Emerging Culinary Destinations

As infrastructure and digital connectivity improve, new hotspots for culinary tourism are emerging, solidifying the region's status as a global center for cultural and culinary excellence. The report identifies the diverse and vibrant food cultures in Bali, Busan, Ho Chi Minh City, Jeju, Kuala Lumpur, Manila, Mumbai, Niseko, Shanghai, and Tasmania. They are redefining local dining scenes and setting new standards in global gastronomy with unique, hyperlocal dining experiences that celebrate indigenous ingredients and traditional cooking techniques.

Other trends identified in the report

Conscious Cuisine: Sustainability efforts include regenerative farming, addressing the water crisis, and digitizing the supply chain are seen to enhance food security and waste reduction.

Farm-to-Future: The integration of sustainable practices from biodynamic farming, plant-centric dining to upcycled ingredients are driving incremental improvements, ensuring that our future generations can continue to enjoy diverse cuisines.

Pour it Forward: Innovations in beverages, including craft cocktails and non-alcoholic options alongside the experience-driven spaces, are redefining bar experiences.

High-Tech, High-Touch: Technology enhances the dining experience without diminishing the personal touch that is central to hospitality.

Sensory Dining and Sustainable Spaces: Restaurants are becoming arenas for multisensory experiences integrated with technology that are both enjoyable and environmentally conscious.

About Marriott International

Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 9,000 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program.  For more information, please visit our website at www.marriott.com, , and for the latest company news, visit www.marriottnewscenter.com.  In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.

About Luxury Group by Marriott International

With an unrivaled portfolio of eight dynamic luxury brands, Marriott International is creating authentic, rare, and enriching experiences sought by today’s global luxurian. Spanning all corners of the world, Marriott International’s Luxury Group offers a boundless network of more than 520 landmark hotels and resorts in 70 countries and territories through The Ritz-Carlton, Ritz-Carlton Reserve, Bvlgari Hotels & Resorts, St. Regis Hotels & Resorts, EDITION, The Luxury Collection, JW Marriott, and W Hotels. From the world’s most iconic destinations to the ultimate undiscovered gems, the international hospitality leader’s collection of luxury brands is focused on elevating travel with highly contextualized, nuanced brand experiences that signal the future of luxury by allowing guests to indulge their passions while sparking personal growth.

Arvind SmartSpaces Adds New High-Rise Project In ITPL Road, Bengaluru With A Top-Line Potential Of Rs. 600 Crore

* The project is spread across 2.9 acre and has a saleable area of 4.2lakh sq. ft

Arvind SmartSpaces Limited (ASL), one of India’s leading real estate development companies, part of the Lalbhai group, today announced that it has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of ~4.2 lakh sq. ft. and a top-line potential of ~Rs. 600 Cr. This project is located on ITPL road, near Whitefield, Bengaluru. The project is undertaken on joint development basis.

This addition follows the acquisition of the Bannerghatta high-rise project signed in FY24. This would be ASL’s 12th overall and 8thhigh rise project in Bengaluru. ITPL Main Road, near Whitefield is one of the most established residential micro markets in Bengaluru. It boasts excellent connectivity with a metro station nearby and seamless access to the IT/ITES hub in Whitefield, which is home to numerous IT companies and tech parks. The site benefits from well-developed social and civic infrastructure, including prominent schools, hospitals, retail, residential, and commercial spaces in close proximity. Additionally, the area offers quick access to popular hotspots such as the Phoenix Marketcity, Forum Shantiniketan, Inorbit Mall, and the Whitefield Railway Station, making it a highly desirable location for residential development.

Commenting on this development, Mr. Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said, “We are happy to add another high-rise project in Bangalore, strengthening our vertical development portfolio in one of India's largest residential real estate markets. Brand ‘Arvind’ continues to resonate strongly with homebuyers and landowners alike, as we look to further deepen our presence in the Bangalore market.

With this project addition, our cumulative new business development topline potential for the year stands at ~Rs. 1,010 crore. The optimism in the real estate market remains strong and we are well on track to conclude our ongoing business plan of adding new projects across Ahmedabad, Bengaluru and MMR.”

ICICI Bank Partners With PhonePe To Offer Instant Credit On UPI

*     The Bank’s pre-approved customers can use credit for UPI transactions on the PhonePe app

ICICI Bank today announced that it has partnered with PhonePe to offer instant credit on UPI to its pre-approved customers on the app of the digital payments company. The partnership enables millions of pre-approved customers of ICICI Bank to activate short term credit line instantly on the PhonePe app, and use it for UPI transactions in a seamless and secure manner. The Bank offers credit line on UPI for up to ?2 lakh with a repayment period of 45 days.

The facility is announced during the festive season to empower customers to purchase high ticket items like electronics, travel and hotel bookings, bill payments, and much more.

Mr. Niraj Tralshawala, Product Head- Payment Solutions, ICICI Bank said, “We at ICICI Bank are delighted to partner with PhonePe to provide seamless and easy access of credit to millions of customers. At the anvil of the festive season, the pre-approved customers of ICICI Bank can activate the credit line instantly to make payments for their festive shopping needs on PhonePe. Aimed at providing seamless digital credit, this offering is likely to play an important role in the personal banking experience of our customers.”

Commenting on the partnership, Mr. Deep Agrawal, Head of Payments at PhonePe said, “We are excited to partner with ICICI Bank to extend the credit line on UPI offering to pre-approved ICICI Bank customers on our platform. This partnership will enable customers to avail flexible short-term credit through a fully digital user experience from within the PhonePe app instantly. Credit Line on UPI is yet another innovative product offering that will unlock and revolutionize access and use of credit in the country. At PhonePe, we are focussed on maximizing the reach and availability of this product and this partnership with ICICI Bank is a key milestone in that journey.”

This credit line is interoperable across various UPI payment applications and provides customers the facility of transacting using any UPI payment app.

Steps to activate credit line on PhonePe:

?     Login to your PhonePe app

*     Click on the credit activation banner shown on the app

*     Check the product features, charges and proceed for activation

*     Complete all authentication steps

*     Once the credit line has been approved, the customer  can link it UPI, set up a UPI Pin and use it for UPI transactions.     

About ICICI Bank: ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK and NYSE:IBN) is a leading private sector bank in India. The Bank’s total assets stood at ? 18,92,697 crore at June 30, 2024.

For news and updates, visit www.icicibank.com and follow ICICI Bank on X at www.twitter.com/ICICIBank.

For media inquiries, contact corporate.communications@icicibank.com

About PhonePe Group:

PhonePe Group is India’s leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in Aug 2016. In just 8 years, the company has scaled rapidly to become India’s leading consumer payments app with 560+ million registered users and a digital payments acceptance network of 40+ million merchants. PhonePe also processes over 280+ million daily transactions with an annualized Total Payment Value (TPV) of USD 1.5+ Trillion.

On the back of its leadership in digital payments, PhonePe Group has expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode - hyperlocal e-commerce and Indus App Store - India's first localized App Store). PhonePe Group is an India headquartered technology company with a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

Mia by Tanishq Unveils India’s First Flagship Store In Bengaluru

~Spread across 2,000 square feet, the store features over 1,800 unique design pieces~

As the festive season begins, Mia by Tanishq, India’s trendiest fine jewellery brand, proudly unveils its first flagship store in India. Nestled in the high-street shopping area of Bangalore at Indiranagar, this new store sets the stage for a truly elevated shopping experience. The store located at 100 Feet Rd, Kodihalli, Indiranagar, Bengaluru, was inaugurated by Ms. Shyamala Ramanan, Business Head, Mia by Tanishq accompanied by Mr. Rajiv C Menon, National Sales and Retail Head - Mia by Tanishq. The launch of the 2000 sq.ft. store is a part of the brand’s strategic expansion plan to increase its retail presence in the southern market while providing an unparallelled customer experience.

The latest store offers a wide range of jewellery embodies Mia’s signature design language, showcasing a rich narrative of craftsmanship across over 1,800 exquisite pieces. In addition to the vibrant colors and architecture standard to Mia store, the Indiranagar flagship store features an array of highlights designed to offer elevated experiences and memories for their shoppers. One of the experience zones is the Gift Wrapping Nook, where customers can make their gifts truly special with customizable wrapping options. Shoppers can also take advantage of the Engraving station to add a personal touch to any jewellery. The Mia Kids Zone is sure to engage the little ones while you explore Mia’s stunning collections. For those looking to relax and unwind, the inviting Mia Moments Café offers a cozy space, further enriching the overall shopping experience.

The Silver lining of the store is a display of special Mia silver curations. Adding to its comprehensive offerings is an Old Gold Jewellery Purity Check facility with cutting edge Karatmeters and convenient parking space, ensuring a seamless and premium shopping experience for customers. Mia also has an inaugural discount of up to 20% off on Mia products and the offer is valid till 31st October 2024.

Commenting on the store openings, Ms. Shyamala Ramanan, Business Head, Mia by Tanishq, said, “At Mia, customers are always at the heart of our journey, and this Mia’s first flagship store in Indiranagar is a testament to that commitment. Designed to offer an experience that goes beyond jewellery shopping, this store invites customers to explore a world where every piece tells a personal story, and every visit feels like a celebration. With unique services like personalized engravings and a curated selection of exclusive designs, Mia ensures that every customer can make their purchase truly their own.

As the festive season brings with it moments of joy and togetherness, Mia is excited to present exclusive offers and exciting collections that blends elegance with nostalgia, offering jewellery that resonates with individual style and personality. For Mia, Bangalore is not just close to home but is also a key market in our retail expansion strategy, as the city’s retail landscape is rapidly evolving. The vibrant and diverse community here inspires us, and this flagship store is our way of connecting with customers on a deeper level, providing an inviting space where they can find pieces that resonate with their eclectic tastes.”

The store houses a wide selection of contemporary 14kt and 18kt jewellery designs. It features the new launched Diwali collection ‘Mia Disco’ inspired by the iconic 70s disco era. The collection includes wide range of earrings, hoops, bracelet, neckpieces, drawing inspiration from the designs and motifs of disco light, strobe lights and zig zag patterns. Mia’s disco-inspired collection is a striking blend of retro charm and modern chic, designed to add a radiant allure to every festive occasion.

Shoppers can look forward to exclusive festive designs that capture the essence of artisanal craftsmanship, while adding a stylish touch, making this an ideal destination to find the perfect festive jewellery. The wide assortment of earrings, studs, finger rings, bracelets, modular bangles and pendants, neckwear and Mangalsutras at the store caters to diversified consumer preferences of Bangalore. The store also features the exquisite ‘Lovestruck’ collection crafted in finest natural diamond, perfect for celebrating special moments and the ‘Evil Eye’ collection is all about keeping your energy in check while flexing cosmic style. The store has something special for every Bangalorean.