Morris Garages (MG), a British automobile brand now owned by SAIC of China, is bullish on Indian market and plans to invest Rs 3,000 crore more in the country, a company official said.
"India's steel demand growth pace will slow because of weak auto and manufacturing demand... India's demand growth, remains strongest in Asia even as growth pace slows," the US-based agency said in its outlook report titled 'Asia: Steel - 2020 outlook'. The country's steel output will increase on higher capacity utilisation as demand grows.
On the opening of the new outlet, CADISA senior director Lic. Jorge Siekavizza was quoted as saying: "We at CADISA are happy to commence this partnership with the inauguration of flagship showroom in Gautemala city. We will follow this with two more flagship stores and support with end-to-end service, spare and support."
Automobile manufacturers, including Maruti Suzuki India, Mahindra & Mahindra and Toyota Kirloskar Motor, on Friday reported improved sales in October driven by festive season demand amid a prolonged slowdown in the sector.
The company, which primarily makes two-wheelers and three-wheelers, had sold 3,98,427 units in the same month last year, TVS Motor Company said in a statement.
Passenger vehicle sales, which were in the doldrums since late last year, have shown positive sales trajectory this year in comparison to the off-take witnessed during Dhanteras 2018.
The company said it delivered around 200 cars from a single point in Delhi-NCR, marking one of the largest vehicle delivery events on Dhanteras.
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