According to reports, the French automaker Renault intends to implement a voluntary redundancy scheme, which allows workers to opt out of the firm in exchange for a financial settlement rather than being fired outright, to lay off 3,000 workers globally, mostly in support positions. According to the French newsletter L’Informe, the final decision regarding the layoff is anticipated to be taken by the end of the year.
Why Renault Opted to Reduce the Workforce?
The layoffs are a part of an internal cost-cutting programme called “Arrow”, which aims to slash Renault’s staff in support services like marketing, finance, and human resources by 15%. Around 3,000 jobs are anticipated to be lost as a result of this goal at the automaker’s headquarters in the Boulogne-Billancourt area of Paris as well as other sites across the globe.
As per Reuters, Renault said that it is thinking about cutting costs but said that no definitive decisions have been made as of yet; therefore, it was unable to confirm any official statistics.
According to a Renault representative who replied to Reuters, “We confirm that we are considering ways to simplify our operations, speed up execution, and optimise our fixed costs given the uncertainties in the automotive market and the extremely competitive environment.” At the end of 2024, Renault had 98,636 employees across the globe.
Financial Outlook of Renault
This recent development comes after Renault’s financial report from July, which showed a net loss of 11.2 billion euros ($13 billion) for the first half of the year, including a write-down of 9.3 billion euros on partner Nissan. The company’s net income, excluding the write-down, dropped to 461 million euros, which was less than one-third of the profit recorded the previous year.
A weakening van market, the cost of electric vehicles, and growing commercial pressures from a more competitive environment were all blamed for this fall. Following Luca de Meo’s departure for Gucci-owner Kering in July, Francois Provost was selected as the new CEO, and analysts emphasised the crucial work that lies ahead for him.
The provost’s responsibilities include bringing Renault’s credit rating back to investment grade, recovering profits, and figuring out how the relatively tiny automaker can handle the effects of US tariffs and fierce competition, especially from Chinese automakers.
Quick
Shots
•Renault plans to cut 3,000 jobs globally through a
voluntary exit scheme as part of a cost-cutting drive.
•Job cuts will primarily affect support functions
like marketing, finance, and HR under the “Arrow” restructuring
plan.
•The move aims to reduce workforce by 15% in support
roles and streamline operations amid intense market competition.
•Renault reported a €11.2 billion net loss in H1 2025, including a €9.3
billion write-down linked to Nissan.
•Falling profits, weak van sales, and rising EV
costs have intensified financial pressures.
•New CEO Francois Provost faces challenges including
restoring credit ratings and tackling global competition.
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Though some of us still want to go for a first-hand experience of things, a significant number of people opt for used products instead of new ones, especially when it comes to the purchase of vehicles.
Our financial conditions have taken a tumble since the outbreak of the coronavirus pandemic, but new cars are getting costlier each day. Furthermore, as ironic as it is, the quality of these cars and their average lifespan are going down equally. Besides, for first-time buyers, going for used cars is always better as a decision. All of these reasons have boosted the sales of used cars.
Buying used cars in India is not at all pain, but all gain today! This is primarily because of the growing used car space in India, which is dominated by promising startups that are equipped with the technology of the age. Spinny is one such used car startup based in Gurgaon, Haryana that is disrupting the segment of used cars in India.
Read more about the brand Spinny, all the details of the used car industry, Logo and Tagline, Founders, Startup Story, Mission and Vision, history, Employees of the company, the Business and Revenue Model, Funding and Investors, Competitors, and more.
Spinny Company Details
Startup Name
Spinny
Also Known As
Spinny Cars , myspinny, Spinny Assured Cars
Legal Name
ValueDrive Technologies Pvt. Ltd.
Headquarters
Gurgaon, Haryana, India
Industry
Automobile, Automotive
Founders
Niraj Singh, Ramanshu Mahaur, Mohit Gupta, and Ganesh Pawar
Spinny is a reliable platform for used cars. Powered by cutting-edge technologies, Spinny promises simple, convenient, trustworthy transactions for all the users who look to buy and sell used cars.
The company’s platform contains a list of automobiles with full details that the buyers can check out. Furthermore, it also includes a test drive with a 5-day money-back assurance, thereby allowing the car owners to sell their vehicles and potential consumers to buy cars in an easy and transparent manner.
Sellers may arrange for an evaluation and accept an offer for their vehicle. Buyers may also go through the wide range of cars that Spinny offers online, choose a car, and book a test drive. Car owners may also put their vehicles for sale on the site and receive fast bids.
Spinny eliminates the danger of buying a used car and provides users with complete peace of mind. Its multi-step filtration means that the users always have the option of selecting from a pool of certified used automobiles of the greatest quality. When a customer buys a Spinny Assured automobile, he/she will be getting a used car that hasn’t been in an accident, hasn’t had its meter tampered with, has clean records, and has been properly inspected against a 200-point checklist.
Spinny – Industry
The used automobile market in India was valued at $561.13 million in 2023 and is predicted to grow to $738.57 million by 2032, with a CAGR of 3.10% between 2024 and 2032.
As opposed to the serious aftermath of the pandemic for the new car space, the impact of the COVID-19 pandemic on the industry was negligible. The industry is expected to significantly rise as more individuals desire independent mobility and new financial alternatives are incorporated into the used automobile market. Besides, after the pandemic onslaught, consumers have been forced to search for alternatives to new automobiles, and the used car sector has a lot of room for expansion in this area. Besides, manufacture and sale have also been hampered by the pandemic, which made the purchasers quickly resort to the used automobile market.
Spinny – Logo, and Tagline
Spinny Logo
Spinny has chosen red and black as its brand colors and the logo of the brand is crisp and catching, marked with the starting letter, “S”, of the brand.
Spinny’s tagline says, “Cars you will love to buy.”
Spinny – Founders and Team
Spinny was founded by Niraj Singh, Ramanshu Mahaur, Mohit Gupta, and Ganesh Pawar in 2015.
Spinny’s Founder and CEO is Niraj Singh. Niraj Singh has also worked as a Founding Partner at Outbox Ventures in the past.
Ramanshu Mahaur
Spinny and Karmabite were co-founded by Ramanshu Mahaur, who currently serves as the co-founder and CTO of the company. He was most recently a member of Adobe’s technical staff. Ramanshu graduated from the Indian Institute of Technology in Delhi with a Bachelor’s degree in Computer Science.
Mohit Gupta
Mohit Gupta is one of Spinny’s co-founders. Prior to joining Spinny, he worked at Flipkart from 2011 to 2014, holding several responsibilities.
Ganesh Pawar
Ganesh Pawar used to be Senior Manager of Business Development in Flipkart. He, then, co-founded Spinny. Now, he is building the food FMCG business at Udaan – an eCommerce-supply chain.
India’s used car industry has been getting a lot of attention for quite some years now. It is mainly due to the better value proposition that used cars offer, that more and more Indians are looking to opt for old cars than the newer ones.
However, the lack of proper information that is inherent in the process of the sales of used automobiles, the absence of trustworthy middlemen, the complexity of navigating through the variety of alternatives when it comes to buyers, and finding the correct price of the vehicles for sellers have all been roadblocks in this path.
Besides, the procedure of buying a secondhand automobile is cumbersome and overly complicated. Independents provide a wide range of rates and services to entice people to buy automobiles of dubious quality. Choosing from a pool of mint and lemon autos, for example, has a high likelihood of bad selection for a beginner. All these provided a cradle for the birth of Spinny.
Niraj Singh, an IIT-Delhi alumni, serial entrepreneur, and investor founded Spinny in 2015. His aim to alleviate young Indians’ automobile ownership woes led to the formation of the firm. Niraj invested $500,000 of his personal money into the company. He is now backed by numerous venture capital groups and has raised close to Rs 418 crore. Niraj saw a need to provide a quality experience for individuals buying used automobiles and decided to build a simple and clear platform for customers to collect information and purchase a car.
Niraj Singh, Ramanshu Mahaur, Ganesh Pawar, and Mohit Gupta embarked on a mission to develop Spinny in order to sift out the quintessential problems of annoyance and skepticism and break down the arduous procedure into a one-click solution.
Buyers may rest assured knowing that all of the cars on offer have been Spinny Certified, which means they have passed a thorough assessment by our expert inspectors. This guarantees that the buyer is fully informed about the vehicle’s condition and is making an educated selection. Buyers of Spinny-certified cars also benefit from a warranty on cars acquired via Spinny.
In addition, the organisation handles all documentation, from registration to title transfers, as well as aiding purchasers with financing their new acquisition. Spinny has finally brought actual ease and a smoother transaction to the used automobile market for both buyers and sellers.
The Spinny business initially started in Delhi NCR in 2015 and has seen quite a growth since then.
Spinny’s mission is to make car ownership accessible, simple, and delightful.
“Our goal is for the country to trust our method, believe in and enjoy our cars”, states the company’s website.
“Only four percent of people are satisfied with their experience of buying a used car. We are providing trust, transparency, and simplicity. Our aim is that the buyer should be able to purchase the car with the same confidence that he or she shows while buying a new car,” added Niraj.
Spinny – Business Model and Revenue Model
Spinny, transitioned from a customer-to-customer model to a full-stack one in which it buys, refurbishes, and sells old cars. According to the creator and chief executive officer Niraj Singh, the website sells close to 1,500 automobiles every month and is increasing at a constant pace of 15-16% month over month. Spinny hopes to roughly triple its current volume by the end of the year 2021, according to Singh.
“There was a lot more capital available, but we wanted limited dilution in this round because our burn is very limited. We don’t have a runaway problem. It was just that we wanted to add an extra layer of security and the ability to experiment more,” Singh said.
Spinny has over 2 lakh customers and works with around 1000 people in over 11 cities, with ambitions to grow to 6 more by the end of the year, 2021. It now offers used cars in the INR 4-8 lakh range but intends to expand its services to include both cheaper and higher-priced vehicles.
In 2024, Spinny startup sells over 7,000 cars each month. Spinny’s online sales have also increased by 13% to reach 70% of the total sales.
Spinny raised around $513.5 million in funding over the 9 funding rounds it has witnessed to date. The last funding came in the form of an undisclosed funding round from Sachin Tendulkar after the huge Series E funding round on November 24, 2021, led by Tiger Global and Abu Dhabi Growth, which helped the company join the unicorn club of Indian companies. Currently valued at over $1.67B, as of December 2024, Spinny has already become the 4th Indian unicorn startup in the used car space and the 39th unicorn startup of India to achieve a unicorn valuation in 2021.
Date
Round
Amount
Lead Investors
December 14, 2021
Funding Round
–
Sachin Tendulkar
November 24, 2021
Series E
$283M
Tiger Global, Abu Dhabi Growth Fund
Jul 9, 2021
Series D
$103.30M
Tiger Global Management
Apr 7, 2021
Series C
$65M
General Catalyst
Sep 27, 2019
Series B
$43.7M
Fundamentum
May 21, 2019
Series A
$13.2M
Accel, Elevation Capital
Nov 13, 2018
Debt Financing
$4M
Blume Ventures
Jun 6, 2017
Seed Round
$1M
Blume Ventures
Spinny – Shareholders
Spinny shareholding as of November 2024 (source: Tracxn):
Spinny Shareholders
Percentage
Niraj Singh
9.7%
Mohit Gupta
2.6%
Ramanshu Mahaur
2.6%
Tiger Global Management
14.1%
Elevation Capital
12.5%
Accel
13.1%
General Catalyst
6.6%
ADFD
5.6%
Fundamentum
5.2%
Avenir Growth Capital
5.1%
Blume Ventures
5.3%
ESOP Pool
6.7%
Others
10.9%
Spinny Shareholders
Spinny – Acquisitions
Acquiree Name
About Acquiree
Date
Amount
Scouto
Scouto is an AI-powered connected car connectivity start-up.
Feb 10, 2022
–
Truebil
Truebil is a team of young, highly motivated professionals who strive to help you buy and sell used cars in the simplest way possible.
Aug 6, 2020
–
HopCar
HopCar is a provider of buy and sell car. Free Inspection. 15 days Sale Guarantee.
Jun 13, 2016
–
Spinny competes with its ESOP buyback for its current and former employees. The ESOP buyback plan announced on December 21, 2021, worth ($12 mn) INR 90 crores, was the first employee stock ownership plan that the company has seen to date.
Spinny – Growth and Revenues
Top Car Preferences: Maruti Suzuki, Hyundai, BMW, and Mercedes-Benz were the most popular in 2024.
Online Sales: 70% of purchases were made online in 2024.
Spinny Parks: 50% of deliveries were from new Spinny Parks in 2024.
Financing: 46% of buyers used Spinny Capital for financing in 2024.
Metro Growth: Bangalore, Delhi NCR, and Hyderabad saw the highest sales in 2024.
Spinny – Financials
Spinny’s financial performance from FY20 to FY24 shows strong revenue growth but continued losses. Revenue grew from INR 17.7 crore in FY20 to INR 3,821.9 crore in FY24, while expenses also increased, leading to a loss of INR 587.5 crore in FY24.
Particulars
FY24
FY23
FY22
FY21
FY20
Revenue
INR 3,821.9 crore
INR 3,380.7 crore
INR 180 crore
INR 39.7 crore
INR 17.7 crore
Expenses
INR 4,409 crore
INR 4,196.1 crore
INR 670 crore
INR 150 crore
INR 93.9 crore
Profit/Loss
INR -587.5 crore
INR -815.5 crore
INR -490 crore
INR -110.3 crore
INR -76.2 crore
Revenue grew by INR 441.2 crore (13.05%) from FY23 to FY24. Expenses increased by INR 212.9 crore (5.07%), reducing the loss by INR 228 crore.
Spinny Revenue:
Spinny’s revenue grew from INR 3,380.7 crore in FY23 to INR 3,821.9 crore in FY24, mainly due to higher revenue from operations.
Revenue Source
FY24
FY23
Revenue from operations
INR 3,725 crore
INR 3,259.8 crore
Other income
INR 96.8 crore
INR 120.9 crore
Total Revenue
INR 3,821.9 crore
INR 3,380.7 crore
Revenue from operations increased by INR 465.2 crore (14.27%), while other income fell by INR 24.1 crore (19.93%).
Spinny Expenses:
Expenses rose from INR 4,196.1 crore in FY23 to INR 4,409 crore in FY24, driven by higher purchases of stock-in-trade and finance costs.
Expense Type
FY24
FY23
Cost of materials consumed
INR 90 crore
INR 143.8 crore
Purchases of stock-in-trade
INR 3,495.2 crore
INR 3,242.9 crore
Changes in inventories of finished goods, WIP
INR 8.4 crore
INR (217.5) crore
Employee benefit expense
INR 391.7 crore
INR 393.5 crore
Finance costs
INR 90.1 crore
INR 67.7 crore
Depreciation, depletion and amortisation expense
INR 62.1 crore
INR 77.9 crore
Other expenses
INR 271.5 crore
INR 487.8 crore
Total Expenses
INR 4,409 crore
INR 4,196.1 crore
Purchases of stock-in-trade increased by INR 252.3 crore (7.78%), while other expenses decreased by INR 216.3 crore (44.34%).
Spinny Profit/Loss:
Spinny reduced its losses from INR 815.5 crore in FY23 to INR 587.5 crore in FY24 due to revenue growth and cost management.
Profit Type
FY24
FY23
Gross profit/loss
INR 326.7 crore
INR 137.8 crore
Operating profit/loss
INR -497.4 crore
INR -747.6 crore
Net profit/(oss
INR -587.5 crore
INR -815.5 crore
Gross profit increased by INR 188.9 crore (137.08%), and net loss reduced by INR 228 crore (27.96%).
Quick Summary:
Revenue: Increased by 13.05% (INR 441.2 crore), driven by a rise in revenue from operations.
Expenses: Increased by 5.07% (INR 212.9 crore), mainly due to higher stock-in-trade purchases and finance costs.
Profit/Loss: Net loss was reduced by INR 228 crore (27.96%) due to improved gross profit and controlled expenses.
Spinny, a used car startup, had laid off 5% of its workforce, or around 300 employees in August 2023, as the company merged the Truebil and Max platforms into the main platform. The reason for the layoff is to have cleaner and more focused execution going forward and to offer everything to customers on the main platform.
The company’s official statement on this “We have witnessed a sharp uptick in demand for reliable, budget-friendly cars as most people have resumed work from the office. By splitting our inventory of cars across different brand platforms, we were sometimes unable to offer enough options to such customers. With this consolidation, we should be able to meet the needs of these customers well.
Spinny is providing affected employees with a three-month severance package, faster ESOP vesting, and the option to maintain their assets as a show of support.
The trust issue is one of the major worries consumers have when buying used automobiles, according to Niraj Singh, co-founder, and CEO of Spinny. The startup’s rigorous and transparent inspection of the car, buying it from the owner, and then selling it to clients, addresses those concerns, Singh adds.
The business claims it is removing conventional intermediaries from the mix, making used car purchases more reasonable and reliable for clients. If a consumer is unhappy with the automobile they bought from Spinny, they will receive a complete refund.
Spinny started out as a used automobile marketplace, but according to Singh, the company has grown to become a full-stack platform. The pandemic harmed Spinny’s company for a few months, according to Singh, but the startup has now restored its pre-pandemic growth rates.
According to Singh, the outbreak of the deadly virus made many people wary about taking an Uber or Ola trip, prompting them to look into purchasing their own vehicles. Spinny’s CAC was also dramatically lowered, he claimed.
Though Spinny is an evolving startup that has already achieved a unicorn valuation, it is facing tough competition from its rivals in the used car space. Therefore, surviving in one such landscape with cutthroat competition is itself a challenge that Spinny is battling against.
Spinny – Future Plans
Spinny doesn’t want to be just another participant in the market in the coming year; instead, it wants to be the catalyst for changing people’s perceptions about used vehicle purchases. According to Niraj, the goal is to create a seamless shopping experience that is consistent with openness, quality, responsibility, and trustworthiness.
Spinny – FAQs
What is Spinny?
Spinny is an Indian used car buying and selling platform founded in 2015. It provides a seamless, transparent, and trusted process for purchasing and selling pre-owned cars.
What does Spinny do?
Spinny is a used car trading platform that aims to deliver affordable used cars via an easy and transparent process for everyone.
Who founded Spinny?
Spinny was founded by Niraj Singh, Ramanshu Mahaur, Mohit Gupta, and Ganesh Pawar.
Spinny founded in which year?
Spinny was launched in 2015.
Which companies do Spinny compete with?
CarDekho, Droom, CARS24, CarTrade, CarWale, Creative Webmedia Pvt Ltd, Carnation, CheckGaadi, Chehaoduo, CapCar, Shift Technologies, and Carlypso, are the top ten rivals in Spinny’s competitive set.
What is Spinny business model?
Spinny operates on a direct-to-customer (D2C) model for buying and selling used cars. It owns and inspects the cars, ensuring quality before selling them to customers through its online platform and physical hubs. This eliminates middlemen, offering competitive prices and a better customer experience. The company earns revenue from car sales, financing services, and value-added products like insurance and warranties.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byFord.
Ford Motor Company (often referred to as Ford) is an American multinational automotive manufacturer based in Dearborn, Michigan. Henry Ford created the company, which was formed on June 16, 1903. The Ford brand offers autos and commercial vehicles, whereas the Lincoln premium brand sells luxury cars.
Based on 2015 car production, Ford is the second-largest U.S. automaker, GM being the first. As per 2017 data by OICA, Ford is the fifth-largest automaker in the world, led by Toyota, Volkswagen, Hyundai, and GM. As published by carlogs.org, Ford Motor is the World’s fourth-largest car company on the basis based on 2020 revenue. Ford’s Revenue is projected to reach $140.80 billion in 2023. With an annual growth rate (CAGR 2023-2027) of 1.86%, the projected market volume is $151.60 billion by 2027.
The firm became public in 1956, although the Ford family retains 40% voting rights through special Class B shares.
Ford Motor Company is an American automaker that designs, manufactures, distributes, and serves a wide range of Ford trucks, SUVs, automobiles, and Lincoln luxury vehicles.
Automotive, Mobility and Ford Credit are the company’s three segments.
The Automotive division is responsible for designing, producing, distributing, and maintaining Ford and Lincoln cars, as well as their components and accessories. Ford Mobility is a wing dedicated to innovation in the automobile sector. Ford Mobility is working in the field of designing emerging mobility services and also invests in new innovative ventures in the automobile sector. Ford mobility is also working to develop autonomous vehicles. While Ford Credit division provides automobile financing and leasing services.
Ford also holds ownership in Argo AI, a developer of autonomous driving systems, and Spin, a micro-mobility service provider.
Ford – Industry
Before the coronavirus crisis threw the globe into chaos, the automobile sector had been on an upward trend throughout 2018 and had just begun a period of stagnation in 2019. Between March and May 2020, global car sales fell by almost 15% worldwide. China was the first market to recover from the crisis, with car sales remaining at pre-pandemic levels for months after the outbreak. Electric vehicles, autonomous driving, and mobility services are expected to continue to fuel the industry, resulting in an overall rebound in the coming quarters.
Ford Motor Company – Founder
In 1903, Henry Ford established the Ford Motor Company.
Founder of Ford – Henry Ford
Henry Ford
Henry Ford was born on July 30, 1863, in Springwells Township, Wayne County, Michigan to Mary and William Ford. While Henry was just 12, he had his own small self-built machine shop where he spent much of his time experimenting with machines. He was just 15 when he built his first steam engine.
Henry started his career as a machinist’s apprentice in the shops of James F. Flower and Brothers in Detroit(a city in the US). In July 1891, Henry joined as an engineer at the Edison Illuminating Company of Detroit and became the chief engineer of the company in 1893. During his stint at the Edison Illuminating Company, Henry ford also developed a deep friendship with Thomas Edison.
Henry Ford’s automobile manufacturing journey began in the winter of 1893 when he built a modest one-cylinder gasoline model inspired by his interest in internal combustion engines. On a wooden table in the kitchen of the Ford house at 58 Bagley Avenue in Detroit, the first Ford engine flickered to life. His first vehicle, which was a frame-mounted with four bicycle wheels, was powered by a later version of that engine. The Quadricycle, Ford’s first automobile, was built in June 1896.
Henry Ford resigned from Edison Illuminating Company in August 1899, to start his venture. In 1899, he created the Detroit Automobile Company, which became bankrupt just within 18 months of its inception.
Leaving the firm paved the door to his achievement. “Failure is merely the opportunity to begin again, this time more intelligently,” remarked Henry Ford. With this guiding concept in mind, he tried again and established what is today known as the Ford Motor Company in 1903. He also revolutionized the automobile business by introducing the then-unheard-of ‘assembly line’ for his vehicle manufacture. Ford grew to be one of the world’s most successful and lucrative businesses that even managed to survive the Great Depression of 1930.
Ford is also the world’s largest family-controlled company, which has been controlled by the Ford family for over 110 years. Volvo, Land Rover, Jaguar, Aston Martin, and Mercury were previously part of Ford’s premium portfolio. These brands were sold to other firms over time, and Mercury was eventually phased out.
Ford – Mission and Vision
Ford’s mission statement says, “to make people’s lives better by making mobility accessible and affordable.”
This mission statement emphasizes the movement of people, which is a fundamental function of vehicles and the transportation industry. The fact that Ford places such a high value on mobility reveals the company’s social mission. The firm strives to make people’s transportation more efficient as one of the largest participants in the international market.
Ford – Slogan, Tagline, and Logo
Ford’s Company Logo
Ford’s first slogan that was used by the company in 1914 was “Ford: The Universal Car.” Over the years Ford has tried to appeal to its customers across the world through various slogans. Some popular slogans by the company are –
Go Further
All-New Focus Drive One.
Everything We Do is Driven By You
Built Ford tough!
Ford has a better idea
Better Ideas. Driven by you
Built for the road ahead.
Have you driven a Ford lately
Quality is Job one
There’s a Ford in your Future.
If you haven’t looked at Ford lately, look again.
Build for life in Canada
Ford. Designed for living. Engineered to last.
The Best Never Rest.
Answer the call to any adventure.
‘Built Ford Proud’ is Ford’s latest slogan.
Ford – Business Model and Revenue Model
Ford’s operations are divided into three categories: “Automotive,” which is by far the largest, “Ford Credit,” and “Mobility.”
The majority of Ford’s revenue comes from producing and selling automobiles to consumers. Electric vehicles and self-driving automobiles are two areas where the firm wants to increase its capabilities. Ford also makes money through its leasing and financial divisions, which provide automobile loans and lease agreements to customers.
Ford Credit is a Ford service that supplies dealerships and consumers with a variety of automobile finance options. These solutions enable dealerships to buy new inventory and expand existing capabilities, as well as provide clients with finance for car purchases and leases without having to leave Ford’s business environment. In the United States, Canada, and Europe, Ford Credit is offered.
Ford’s Mobility business is primarily the company’s research and development division for self-driving cars and the software that goes with them. This segment generates no revenue because the company has yet to sell any of these cars.
Don Bunker, Pmp, Csm – Project Management Consultant
Aakash Puntambekar – Product Development Engineer
Aarik Kimberlin – Process Coach
Aaron Anderson – Parts Specialist
Aaron Bresky – Product Development
Aaron Brunke – Product Engineering Designer
Aaron Estelle – STA Engineer
Ford – Sponsorships
Ford Center in downtown Evansville, Indiana, and Ford Field in downtown Detroit are two major sports facilities sponsored by Ford In the USA.
Ford also sponsors many events across the globe. Ford is a major sponsor of Sky media channel’s coverage of Premier League football. Ford also sponsored the UEFA Champions League for 20 years, before ending the sponsorship in 2014.
In recent times, automobile demand in important countries such as North America and Europe, as well as China, has fallen short of expectations. These excesses have boosted prices for automakers that have ramped up their capabilities to match projected future growth, as Ford explains in its annual report. In China, for example, surplus capacity in the car sector reached 78% in 2018. According to Ford, surplus capacity will average 47 million vehicles until 2024.
The rush by automakers to tap into the enormous Chinese market has heightened competitiveness in the sector. This, along with declining demand and the growth of Chinese automakers like Chery Automobile Co. and BYD Auto Co., has put pressure on firms like Ford to maintain high prices.
The development of startups like BYD and Tesla (TSLA) has fueled demand for hybrids and electric vehicles, increasing competition and putting pressure on traditional automakers to make their vehicles more efficient and technologically advanced.
Ford – Investments
Date
Organization Name
Round
Amount
May 2, 2022
Cavnue
Series A
$130M
Sept 22, 2021
Redwood Materials
Private Equity Round
$50M
Jul 23, 2021
Rivian
Private Equity Round
$2.5B
May 3, 2021
Solid Power
Series B
$130M
Oct 13, 2020
Solid Power
Series A
$28M
Jun 19, 2020
Motorq
Series A
$7.3M
Apr 2, 2020
Phantom AI
Series A
$22M
Dec 23, 2019
Rivian
Private Equity Round
$1.3B
Oct 29, 2019
Cellink
Series B
$22.5M
Apr 24, 2019
Rivian
Corporate Round
$500M
Nov 7, 2018
SAIPS
Corporate Round
$12.5M
Mar 19, 2018
Desktop Metal
Series D
$65M
Ford – Growth
Year
Amount
Percentage Increase/Decrease from last year
2022
$151.736B
+12.72%
2021
$136.433B
+4.63%
2020
$127.144B
-18.45%
2019
$155.9B
-2.77%
2018
$160.338B
+2.27%
Ford – Competitors
General Motors Company (GM), Honda Motor Company (HMC), Toyota Motor (TM), Daimler (DDAIF), Tesla Motors (TSLA), Navistar International (NAV), and Spartan Motors (SPAR) are Ford’s main competitors.
In 2022, Ford Motor Company received two awards, and 6 awards in 2021. Ford Motor Company took home the awards for Best Engineering Team 2022 and Best Global Culture 2022.
Other recent awards are as follows:
Best Company for Diversity 2021
Best CEO 2021
Best Company Culture 2021
Best Company Happiness 2021
Best Leadership Teams 2021
Best CEOs for Diversity 2021
Car of the Year 2019 – Finland
Car of the Year 2019 – Croatia
Belgian Family Car of the Year (two price categories) – Belgium
Irish Car of the Year awards: Small/Compact Car of the Year – Ireland
Autobild Golden Wheels Award: Best Compact car – Bulgaria
BusinessCar Awards: Best Lower-Medium Car – U.K.
Parkers New Car Awards 2019: Best Small Family Car – U.K.
2018 Scottish Car of the Year Awards: Best Family Car – Scotland
Auto Zeitung Auto Trophy 2018: Compact category winner – Germany
Great Austrian Automobile Prize: Start category winner – Austria
In the face of an auto sector destabilized by increased rivalry, uncertainty, and technological innovation, Ford has launched a “global redesign” to become more nimble and less bureaucratic. According to Ford CEO Jim Hackett, this revamps promises to save $14 billion in expenses by 2024.
Cutbacks Ford eliminated about 3,000 of its paid workforce in the U.S., Canada, and India. The company was looking to lay off as many as 8,000 positions in a move to shift its focus to electric vehicles. Ford promotes the layoffs as part of its new, creative approach, but others view them as a last-ditch cost-cutting move.
Ford stated in January 2021 that it would devote 90% of its worldwide capital allocation through 2023 to a shift to trucks, SUVs, and commercial vehicles. This means that Ford will phase out sedans and other compact automobiles during the next four years.
Self-driving cars Ford is expanding its investment in self-driving cars, as shown by its Mobility business unit. This is undoubtedly a forward-thinking move on Ford’s side, but breakthrough autonomous cars are unlikely to arrive fast enough to provide the benefit Ford requires. Ford is developing its first fully self-driving car, with a cost of $2.7 billion.
Electric and Hybrid Vehicles Ford announced intentions to invest $11 billion in electric vehicles in January 2018, much above its prior aim of $4.5 billion. By 2022, the firm hoped to have 40 electric cars on the road thanks to this investment. The rest would be plug-in hybrids, with 16 being entirely electric.
Ford has established itself as the second electric vehicle company in the US after Tesla. Since the Mustang Mach-E model debuted in late 2020, Ford has produced 150,000 of them. It intends to build 600,000 by 2023 and over 2 million EVs annually by 2026.
Conclusion
Ford is a well-established American automotive company known for producing a wide range of vehicles, including cars, trucks, and SUVs. With a history of innovation and a commitment to quality and durability, Ford has built a loyal customer base and remains a major player in the global automotive industry.
FAQs
What does Ford do?
Ford Motor Company is an American automaker that designs, manufactures, distributes, and serves a wide range of Ford trucks, SUVs, automobiles, and Lincoln luxury vehicles.
When was Ford founded?
In 1903 Henry Ford, an American automobile manufacturer established the Ford Motor Company.
Who founded Ford?
Henry Ford established the Ford Motor Company in 1903.
Which companies does Ford compete with?
General Motors Company (GM), Honda Motor Company (HMC), Toyota Motor (TM), Daimler (DDAIF), Tesla Motors (TSLA), Navistar International (NAV), and Spartan Motors (SPAR) are Ford’s main competitors.
Ford company belongs to which country?
Ford is an American based in Dearborn, Michigan, U.S.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by General Motors.
General Motors, a multinational corporation based in the United States, was the leading automobile company for 77 years until it was surpassed by Toyota in 2008. Despite this, GM has consistently ranked among the top 15 companies on the Fortune 500 list, and recently moved up from No. 8 to No. 5. With operations in eight countries and four brands, GM is also involved in joint ventures with Chinese automakers and produces military vehicles for the US government.
General Motors – Company Highlights
Company Name
General Motors
Headquarters
Michigan, US
Sector
Automotive
Founder
William C. Durant, Charles Stewart Mott. Frederic L. Smith
General Motors are the manufacturer, marketer, and distributor of vehicles and vehicle parts. GM is a public company owned by shareholders. General Motors formerly known as General Motors Corporation has been the world’s largest motor-vehicle company for most of the 20th and early 21st century. With a global presence, General Motors operates manufacturing and distribution plants not only in the United States and Canada but also across many other regions of the world. The company is majorly involved in the production of automobiles and trucks which also includes automotive components.
General Motors – Automotive Industry
The automotive industry comprises a wide range of companies and organizations involved in the business of manufacturing, design, marketing, and distribution of automotive products. The automotive industry began in the 1860s with a lot of manufacturers that pioneered change in the carriage system. Earlier the manufacturing process involved a lot of labor from engineering to very little work. At the beginning of the 1960s robotic equipment was introduced and now most of the work is automated. General Motors is been a leading manufacturer in the industry for decades.
General Motors – Founders and Team
The origins of General Motors date back to September 16, 1908, when the company was originally founded. However, the present-day version of the company is the result of a reorganization that took place on July 10, 2009. General Motors was established by William C. Durant, Charles Stewart Mott, and Frederic L. Smith.
William C. Durant
William C. Durant – General Motors
William Crapo Durant was a leading pioneer of the United States automobile industry. He co-founded General Motors and Chevrolet. He was the one who introduced the system of multiple marques with different automobile lines. He also founded Frigidaire.
Charles Stewart Mott
Charles Stewart Mott – General Motors
Mott was an industrialist and businessman in America. He co-founded General Motors along with the other two. He initiated the idea of building colleges and pledged $1 Million towards the project. He also founded the Flint Senior College now the University of Michigan – Flint.
Frederic L. Smith
Frederic L. Smith – General Motors
Frederic Latta Smith was the pioneer of the automobile industry. He was one of the founders of the Olds Motor Works before he co-founded the General Motors Corporation in 1908. During the early years of the Association of Licensed Automobile Manufacturers Smith managed to be its president.
General Motors – Startup Story
In the early 1900s, the General Motors company was formed under the leadership of William C. Durant. The formation was to consolidate several motorcar companies like Buick, Oldsmobile, Oakland, Marquette, and other several autos. This consolidation also includes Reliance and Rapid Trucks. The auto giant was the innovative body that first introduced the electric self-starter in 1912. Though it became obsolete in the beginning. GM became the leading American passenger car manufacturer in 1929.
Durant first formed the company as a holding company, with Charles Stewart Mott as a partner. The name was initially borrowed from General Electric. In 1919, with the acquisition of Guardian Frigerator Company, became the GMAC, General Motors Acceptance Corporation. GMAC provides financing to automotive customers and the acquisition was renamed Frigidaire.
In 1920, GM heavily competed with the Ford Motor Company under the leadership of Alfred P. Sloan. He implemented the pricing strategy from least to most expensive vehicles in his annual model changes. Sloan also created a market for the previous year’s car models as used cars. In 1921, GM patented the tetraethyllead (gasoline) compound and also developed Chlorofluorocarbons both were banned in the later years as harmful ingredients for the biosystem. In 1926, the Pontiac brand was introduced by GM along with the insurance program for its employees. In 1927, Sloan created the ‘Art and Colour Section’ of GM and Harley Earl was its first director. The automobile design created by Earl is still in practice. After Earl, Mitchell took over the design for GM.
GM invented the breakthrough in heat treatment by introducing the Jominy end-quench test for the hardenability of carbon steel in 1937. In 1939, the company placed its feet in the vehicle insurance market by finding the Motors Insurance Corporation. In the same year, the company introduced the world’s first affordable and successful automatic transmission.
Vast quantities of production happened during the times of world war 2 when the company supplied armaments, aircraft, and vehicles for the Allies of World War 2. Its German factories were destroyed by the U.S. forces during the war for which a compensation of $32M was received by the company.
In 1962, the first turbocharged engine was introduced by the GM for the Oldsmobile Cutlass Turbo-Jetfire. In the next two years, the company introduced its “Mark of Excellence” logo and trademark at the 1964 New York World’s Fair. The company used this mark as its main corporate identifier until 2021.
The first-ever hydrogen fuel cell car was released by General Motors Company in 1966. Though fuel cells were already in existence, GM was the first one to use them to power the vehicle. The budget to use the power cell supplied by Union Carbide was millions of dollars. It also introduced the first-ever turbochargers and gas turbine vehicles powered by kerosine, but later the techniques were abandoned due to the oil crisis in 1973.
GM produced the first rear-wheel anti-lock braking system for two vehicles namely the Toronado and Eldorado. The Oldsmobile Toronado is also the first retail car with a passenger airbag introduced in 1973. In 1975, GM installed the first catalytic converters in its models. The converters are exhaust emission control devices that convert toxic gases into less-toxic pollutants. Year after year GM proved itself by introducing various new techniques and innovations in the market.
In 1987, GM built the Sunraycer, which won the inaugural World Solar Challenge. This invention was a showcase of advanced technology. Later, in 1990, GM debuted the EV1 concept which is a battery electric vehicle at the LA Auto Show. But the EV1 lease was available to only a few dealers in California and Arizona. Production was stopped for this product as it would not be profitable for the company. This disappointed many people which led the company to deactivate and destroy the EV1s, 40 of which were donated to museums. The documentary film ‘Who Killed the Electric Car?’ covers the story of EV1. In 1993, Lotus cars by GM were sold to Bugatti.
It was in 1996, that GM completed the corporate spin-off of Electronic Data Systems. The next year, GM sold its military businesses of Hughes Aircraft Company to Raytheon Company. Being the king of inventions in the automotive industry, GM introduced the first full-sized pickup truck hybrid vehicle, the Chevrolet Silverado Sierra trucks in May 2004. Other than these mild hybrids, GM also developed another debutante using hybrid technology, along with DaimlerChrysler and BMW. In the same year, GM sold the electro-motive diesel locomotive design to Berkshire partners and Greenbriar Equity group.
GM added its “Mark of Excellence” emblem in all its productions till the reorganization in 2009. In 2005, GM newly created the vice president position to lead a global automotive design organization and made Edward T. Welburn the first VP. 2006 was the year when GM introduced the yellow gas cap on its vehicles to identify them as cars operated using E85 ethanol fuel and Saturn Vue Green Line.
In 2008, GM concentrated on reducing landfill waste to achieve the status of landfill-free production. It started recycling and reusing the wastes from manufacturing processes. This was the year GM was conscious about the environment and offered a 2-mode hybrid system in most of its vehicles. It also installed the world’s largest rooftop solar power installation in its manufacturing plant in Zaragoza.
In March 2009, the company received bailouts of $17.4 B under the presidency of Barack Obama. Then, GM motors filed a chapter-11 reorganization and sold its assets including the logo to the new company and thus the new GM was born. General Motors Canada was not a part of Chapter 11 bankruptcy. The US department of treasury invested $49.5 B through the Troubled Asset Relief Program in GM and recovered only $39B with a loss of $10.3B. It also invested in the GMAC financing companies and had a profit of $2.4B. In 2009, the company shut down the production of the Saturn and Pontiac brands due to a lack of potential buyers. It also sold Hummer and Tengzhong in the same year.
After the reorganization, the company appointed a new CEO and made changes to the BOD team. The company became public through its public offerings in November 2010. This is one of the world’s top five largest IPOs to date. In the same year, the company became profitable. In the later periods of 2010, GM introduced extended-range electric vehicles (EREV) with backup generators powered by gasoline.
In 2013, GM and Honda partnered to develop a fuel cell system and hydrogen storage technology. They are the leaders in fuel cell technology holding most of the patents for fuel cells from 2002 to 2012. In 2015, the second generation Volt was launched in the United States and Canada. In 2017, GM introduced an autopilot feature in certain models of cars. In the same year, the GM Venezolana plant was seized by the Government of Venezuela in Valencia, Carabobo.
In November 2018, GM laid off 14000 employees in North America as it comprised the workforce by 15% and executive staff members by 25%. In 2019, GM ceased the production of the Chevrolet Volt and announced to begin of the production of the EV model in Lake Orion, Michigan. In January 2020, GM announced the return of the Hummer nameplate within the GMC portfolio known as GMC Hummer EV.
GMC Hummer EV
During the Covid period, GM assisted Ventec life systems to produce Ventilators. In September 2020, GM announced its partnership with Nikola Corporation to engineer and manufacture the Nikola Badger. Later, GM was committed to increasing capital investments in electric vehicles. GM in January 2021 announced its plan to stop the production and sales of fossil fuel vehicles as part of its goal to reach Carbon neutrality by 2040. It also announced its plan to start an automotive battery and battery pack laboratory in Michigan. GM facility at Brownstown Township is chosen to be upgraded as a battery pack plant. In April, GM announced its joint venture with LG to build batteries for electric vehicles.
Lately, GM also made the largest investment project in its home state, Michigan to invest $7B to convert plants to produce electric plants and build new battery plants.
Leading car brands in the United States in 2021, based on vehicle sales
General Motors – Mission and Vision
The original mission statement of GM is to earn customers for life by building brands that inspire passion and loyalty through not only breakthrough technologies but also by serving and improving the communities in which we live and work around the world.
The vision of the company is to stand together to drive the world forward. The statement is, “Everybody in. Our goal is to deliver world-class experiences at every touchpoint and do so on a foundation of trust and transparency.”
General Motors – Name, Tagline, Logo
General Motors – Logo
General Motors Company was formerly known as General Motors Corporation. The logo of GM fades from light blue to dark blue with GM letters in lowercase type. The logo intends to evoke the clean skies of a zero-emissions future and the energy of the Ultium platform. The company had only two basic emblems from the beginning of the company which is a script wordmark and a bow-tie design. The most recognizable bow-tie symbol was introduced in 1913 by William C. Durant on the Royal Mail model.
General Motors – Business Model
General Motors uses the Generic Strategy from Porter’s model as its business model. The competitive strategy of this model is cost leadership. This creates a competitive advantage based on the low costs of products.
General Motors – Revenue Model
The main source of revenue for the company is vehicle sales. It also earns an equal amount of revenue from its financing companies called GM Financial. The main stream of income for the company from the beginning is the manufacturing, assembling, and distribution of vehicles.
General Motors – Employees
General motors currently have 1,57,000 employees working in the company. The reward program at GM includes compensation, paid time off for holidays, high-quality health care, and GM family savings on vehicles, parts, and services.
General Motors – Challenges Faced
GM was the leading automobile industry for almost 77 years before its bankruptcy in 2009. The bankruptcy was due to the rising gas prices as consumers started looking elsewhere for fuel-efficient cars. When the sales went down, the company struggled to meet even the fixed cost expenses.
General Motors – Mergers and Acquisitions
General Motors had several acquisitions all these years. Here is a timeline glimpse of the latest and key acquisitions made by the company.
Acquisitions
Acquired Date
Cruiser RV
March 2016
Cruise
March 2016
Sidecar
January 2016
Cadillac
July 1909
Vauxhall Motors
1925
Packard Electric
1932
Euclid Trucks
1953
General Motors – Awards and Achievements
General Motors bagged 4 awards in 2018 and 3 awards in 2017. It won the best CEO award in 2018.
General Motors – Competitors
General Motors ruled as a monopoly for the most of 20th century and the earlier times of the 21st century. But, it also has some heavy competition in the market like Tesla, Toyota, Chrysler, Honda, and Ford.
FAQs
What is General Motors known for?
General Motors Co. engages in the designing, manufacturing, and selling of cars, trucks, and automobile parts.
What does General Motors own?
General Motors owns Buick, Cadillac, Chevrolet, and GMC. Hummer returned as a GMC sub-brand. GM has a formal partnership with Honda to co-develop EVs.
What is the biggest controversy faced by GM?
GM was accused of having assisted the Nazis war during the second world war.
What was the reason for the failure of GM in India?
GM failed in India due to poor product planning and the lack of adaptability to the market.
The concern for the environment had led people to increase their interest in electric vehicles. Not only this, but the cost of fuel can also decrease as all it needs are electric-drive components. As per reports, the worth of the electric vehicles market would be INR 475 Billion by 2025.
The coming decade is anticipated to be the ultimate decade for the future of electric cars in India. With battery amounts reportedly falling up to 73%, electric-powered vehicles are anticipated to be as reasonably priced as gas-powered vehicles within the foreseeable future. The International Energy Agency cites that there would be 70 million electric vehicles by 2025. Till 2026, the EV market is scheduled to grow at a CAGR of 36%.
Nations such as the UK, France, Norway, and India are about to undertake e-mobility on a bigger scale. India has loads to the advantage of the massive adoption of e-mobility. Under the Make In India program, the production of e-cars and their related additives is anticipated to increase the percentage of production in India’s GDP by up to 25% by 2022. On the monetary front, large-scale adoption of electrical cars is projected to assist save $60 billion on oil imports by 2030.
In this article, we will talk about the future of Electric Vehicles in India. So, let’s get started.
Current Situation of the Electric Vehicle Market in India
Currently, 84% of India’s oil name is fulfilled through imports. The price of gas might also additionally need to fall, assisting an electric-powered car owner can save as much as Rs20,000 for each 5,000km traversed. Finally, electrification will lessen vehicular emissions, a key contributor to air pollutants which reasons an average of 3% GDP loss each year.
The electric vehicles industry in India debts for 22% of the country’s overall production output and is the sixth-biggest industry in the world. Reports suggest that EVs can play an essential position in growing the percentage of production in India’s GDP from 15% (currently) to 25% through the year 2022.
Indian Electric Vehicle Market by Vehicle Type
Future of Electric Vehicles in India
Globally, the cost for lithium-ion batteries is approximately $250/kWh, this amounts approximately to Rs5.7 lakh in battery charges alone. Currently, lithium-ion batteries account for 50% of the price of an electric-powered car, making them costly as compared to conventional automobiles.
Safety of the batteries from explosion act as a spanner for Li-ion batteries. A predominant hurdle for EVs in India is charging, or the shortage of charging stations can also be considered, thereby making them impractical or tons less possible for lengthy distance drives. Furthermore, some EVs aren’t as speedy as traditional gas-powered motors.
Most purchasers in India might purchase an electric-powered car by 2022, however majority of them additionally trust that it may also now no longer be available till 2025. Consumers in India are searching for a decreased amount for EVs than purchasers in different nations, with the worldwide common tipping amount for EVs being $36,000 (around Rs27 lakh). Castrol took over 1,000 purchasers, fleet managers and enterprise professionals throughout India.
At a critical juncture, while all nations are engaged in liberating Mother Earth from the claws of carbon emissions, and CO2, India can play a leadership position by switching over to EV mobility to make the country a greener and cleaner ecology.
Impact of COVID-19 on the Electric Vehicle Industry
During the pendency of COVID-19, we watched how the surroundings progressed due to the fact of lesser emissions from petrol and diesel-run motors and industries in India. In many cities, the smog absolutely vanished. In many components of India, people should even view remote mountains that were now no longer possible for them to look for years due to the fact of the atmospheric stumbling blocks created due to the emission of the smoke from fossil-gas run motors. By switching over to clean-inexperienced electricity run EVs, we will make skies crystal clear, permitting us to study remote places. EVs keep the critical thing to everlasting answers of a better, cleanser India for the sustainability of its populace.
Range is the key factor here ie.15km on average, whilst a city taxi also can additionally do 300km daily. In an excellent world, we might have a smaller battery percentage and definitely need to recharge periodically. In practice, taxi and fleet motors can earn money overnight, or even personal customers can also additionally have limits on charging options, without fast charging.
An infrastructure for fast charging an EV calls for a remarkable deal of extra strength than 15 amp sockets, which may provide approximately 3 kW of strength, so 35 kWh takes nearly 12 hours. Unlike the US, maximum Indians don’t have a private garage. Hence, full-size and company-agnostic public charging infrastructure will become a key coverage choice.
Indians are famously price-conscious. This is why clients love diesel cars, notwithstanding their better MRP and pollutants relative to their petrol counterparts. The value of EVs is based upon power price, which varies significantly. At Rs7/kWh (kilowatt-hour) of strength, they value approximately Rs1.1/km This saves clients riding 5,000km steadily over Rs20,000 annually, and ensures a remarkable deal. With the Make In India initiative, there is a chance we will see an increase in the making of EVs.
The capture is the advance value. EVs are expensive, ordinarily due to the battery. A single kWh of power is sufficient to head approximately 6 km, so a 200km “complete tank” variety calls for approximately 35 kWh of battery. Today’s charges for lithium-ion batteries are approximately $250/kWh globally, which involves Rs5.7 lakh in battery prices, with the exception of import duties. Even with an eight-year lifespan and a 12% interest rate, justifying the battery prices on steady with kilometre economic savings. However, whilst battery charges fall to $100/kWh, as projected some years out, EVs can emerge as a recreation changer.
Conclusion
The electric vehicle market will definitely see a surge in the coming years. With the concern for the environment and the surging price of fuel, the need for electric vehicles has increased and will do the same in the future. If proper infrastructure is provided and if it becomes affordable and has access to every consumer group, the EV market might become one of the biggest industries in the country.
FAQs
Who is leading the Electric Vehicles sector in India?
Tata Motors is currently leading the EV sector in India.
Is EV will be successful in India?
Electric vehicles will grow at a CAGR of 36% till 2026.
Are electric cars faster than petrol cars?
Electric cars can accelerate faster than petrol cars but they lack the top speed.
Volkswagen is a very familiar name for all automobile enthusiasts across the world. This German motor vehicle manufacturer has fared on the path of success and popularity due to its uncompromising quality and commitment. It was founded on 28 May 1937, by the German Labour Front and is headquartered in Wolfsburg, Germany.
Going by the factual pieces of evidence it can be seen that the Volkswagen group has played a significant role in making cars a product of the middle-class by being a very elitist possession, especially during the second world war. However, it is important to note that Volkswagen is not just a single popular brand. They in fact own many other brands as well. This article will look into the various companies that are owned by the Volkswagen group
It is an independent automotive software company under the Volkswagen Group that consolidates and expands the software competencies of the firm. With a goal to make the best use of technology to benefit the automotive industry, this company is on its way to developing more sustainable automotive services. It was established in 2020.
Volkwagen Group Components
Volkswagen Group Components Logo
This company was founded in 2019 as a part of Volkswagen group strategy 2030. They aspire to improve the potential and viability of component activities through cross-brand management. They are divided into new business areas that are known as Engine & Foundry, Gearbox & Electric Drive, Battery Cell & Battery System, Charge & Energy, Chassis and Seats. Today, they manage over 75,000 people across the globe.
Volkswagen Financial Services
Volkswagen Financial Services Logo
It was founded in the year 1949 and since then has been performing well even during the Covid 19 pandemic. They focus on finding better services with regard to the digital spaces. Their primary focus area revolves around dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. They are represented in over 48 markets across the globe.
MOIA
MOIA Logo
MOIA is a company under Volkswagen that focuses on offering mobility services to city dwellers. It was founded in December 2016 and since then has been working towards its primary goal of recruiting the nuances of mobility amongst the people in urban areas. They develop on-demand services including ride pooling. With the Volkswagen group, they are able to thrive under an experienced company while having exposure to a startup culture.
SEAT
Seat Logo
Seat is the first car manufacturing company in Spain and was founded on 9 May 1950. Since then they have been demonstrated evidence that stands as a testament to the robust technology and industrial competence that the firm maintains consistently. Today the company has marked its presence in more than 75 countries employing over 15,000 people. They sell vehicles under two brands namely SEAT and CUPRA.
Skoda
Skoda Logo
Skoda is a Czech Republic company that was founded in 1895 by Vaclav Laurin and Vaclav Klement. It is one of the oldest car manufacturers in the world that is functional even today. For the last 30 years, Skoda auto has been a very important part of the Volkswagen group. Skoda has also not forgotten their commitment to creating a sustainable environment like all other brands under Volkswagen. They are driven by the exporters of a well-construed sustainability advisory board.
Scania
Scania Logo
The Swedish brand was founded in 1891 by Philip Wersen and Surahammarsbruk, which is a centuries-old ironworks. Over the years, they ran into many financial difficulties before they became the general agent for Volkswagen in Sweden. By 2008, Volkswagen owned over 68% of the voting rights and 37.73% of share capital. By 2014, Scania was wholly owned by the Volkswagen Group. The company has grown so much under Volkswagen that in 2020, Scania released its fully electric truck to become one of the topmost companies in the commercial vehicle industry.
Ducati
Ducati Logo
Headquartered in Bologna, Italy, Ducati has never failed to impress motorbike lovers. It was founded by Antonio Cavalieri in the year 1926. Ducati was taken over by Volkswagen in 2012 for $1.2 billion. Through Ducati, Volkswagen has been able to maintain a stronghold in the motorcycle industry as well.
Porsche
Porsche Logo
This popular brand that is known for its premium qualities was founded by Ferdinand Porsche in 1931. It is said that the Beetle designs by Volkswagen were influenced by Porsche. Although the companies agreed to merge in August 2009, it was only towards the end of 2015 that Volkswagen had the majority shareholding in Porsche.
Audi
Audi Logo
This famous automobile brand became an important part of Volkswagen in 1965. It has been offering premium vehicles since its inception in 1909. Today Audi cars have become a measure of the quality of life and place their owners in a certain class of society.
Lamborghini
Lamborghini Logo
Lamborghini was founded by Ferruccio Lamborghini in the year 1963. Since the founding of this Italian company, it has been a competition to Ferrari due to its uncompromising design and quality. The firm shot to fame within a few years. However, due to financial burdens, Lamborghini had to shut down in 1973. After several changes of ownership Volkswagen finally took over the firm in the year 1998. Through the deliverance of unique hybrid technologies, they have generated billions in the automobile industry today with no turning back since the acquisition.
Bentley
Bentley Logo
Bentley was founded in 1919 and Crewe of United Kingdom. Today Bentley is an end to end net carbon neutral company which adds to the unmistakable reputation of the firm. They have been a part of the Volkswagen group since 1998.
It is a subsidiary of the Volkswagen group that was founded in the year 1998. This luxury brand of hyper sports cars is based in Molsheim, France. Today strong brands like Porsche and Rimac have agreed to formulate a joint venture with Bugatti wherein they will produce hypercar models. Right now the two hypercar models that are planned are the Bugatti Chiron and the all-electric Rimac Nevera.
Traton
Traton Logo
Under the umbrella of Volkswagen, Traton has emerged as one of the largest commercial vehicle manufacturers across the globe. Recently they merged with Navistar which has further elevated the prospects of the firm. They aim to become the leading brand in the field of commercial vehicles by giving importance to sustainability and digitalisation.
MAN
MAN Logo
The MAN Truck and Buses are two of the most popular additions of this brand under Volkswagen. However, to focus on the global plans for the premium end of the market, MAN trucks exited the Indian markets 2 years ago.
IAV
IAV Logo
Volkswagen AG and IAV is an auto parts maker that has created standards to follow for latecomers. Volkswagen owns more than 50% of its stake in IAV. It was founded in Berlin in 1983 by Dr Hermann Appel. Over the years they have developed electric vehicle rechargers that are built into the road for which they have submitted patents.
Renk
Renk Logo
It was a subsidiary of MAN since 1923. As Volkswagen acquired MAN in 2011, Renk became a direct subsidiary of Volkswagen. However, the latter happened in 2019. Renk is a remarkable automotive company that is into the manufacturing of engines for trucks, ships and combat defence vehicles.
WirelessCar
WirelessCar Logo
In 2018 Volkswagen group acquired a 75% of stake in WirelessCar which was owned by Volvo information technology AB. it will help the parent company to further extend its mission of improving connectivity. This Swedish telematics specialist is expected to accentuate the growth of the digital ecosystem and thereby provide extensive connectivity for vehicle generations to come. It is expected that WirelessCar technology will ensure a stable and safe exchange of data between various platforms.
From being one of the pioneers in bringing cars into the midst of middle-class households, Volkswagen continues to be the baton bearer of various other important milestones since then. Today, Volkwagen’s electric vehicles are the most frequently delivered passenger car across the world.
Through digitalisation, they have transformed the present and future of the company. They have brought in relevant software updates through which the company have been able to remain customer friendly.
Inadvertently, these efforts have helped them remain focused on their goals to be the best in the industry. The zeal of Volkswagen to not only focus on the present but also invest intelligently in the future is something that has to be appreciated and looked up to.
FAQs
What subsidiaries does Volkswagen own?
Bugatti, Traton, MAN, IAV, Renk, WirelessCar, Lamborgini, Porsche, Ducati, Scania, Skoda, Audi, Seat, and MOIA are some of the subsidiaries of Volkswagen.
Is Bugatti Owned by Volkswagen?
Yes, Volkswagen acquired Bugatti in 1998 for $50 million in an all-stock deal.
The world has now taken the form of a digital avatar. We are surrounded by technologies, artificial intelligence, digital currency, social media, you name it, and the world has it. To be honest, it is not the same world that it was 20 years ago; it has gone through a bewildering change.
Such is the effect that now currency has also turned digital. Many people are aware of blockchain technology. Yes, the one on that cryptocurrency uses. Blockchain technology has created a way where one can exchange their currency without a help of the government or a mediator.
Apart from cryptos, NFT is also dependent on blockchain technology. The market of NFT saw a sudden rise in the year 2021 and it still growing big. India also seems to be a part of this growth. Many Indian brands are launching their NFTs. In this article, we will talk about the Indian brands that have decided to step their foot in the industry and launch NFTs. Here are the top brands that are launching their NFT collection.
As the value goes up, heads start to swivel and sceptics begin to soften. Starting a new currency is easy, anyone can do it. The trick is getting people to accept it because it is their use that gives the “money” value. – Adam B. Levine
NFT, also known as Non-Fungible Tokens are a form of assets operating on blockchain that can be sold and traded. They have unique identification codes and metadata through which, they can be differentiated.
Unlike cryptocurrency, NFTs are unique and they don’t hold the same value as cryptos. Single crypto is equal with another, that’s not the case with NFTs. Each of the tokens is unique and has a different identity that cannot be transferred or exchanged like other assets.
The craze of NFT is increasing day by day, anything can be converted into NFTs like art, videos, song and others.
Why are Brands Launching NFTs?
Brands are focusing on the NFT industry now, and they are doing it rigorously to attain some of its benefits. Some of the reasons why brands are launching NFTs are:
Through NFTs, brand awareness will increase as it is willingly giving a unique experience to its customers. This also increases the loyalty of the customers towards the brand
With the help of NFTs, brands can also fulfil their social responsibilities and improve their reputation in front of the world by supporting charities with the income from NFT and helping struggling artists by asking them to create art and give them the exposure that they needed through the brand.
Once the brand enters into the NFT marketplace, it will get recognition which will lead to an increase of interest for the brand in the mind of the general public.
Top Indian Brands Launching NFT
T-Series
T-Series is an Indian music record label and film production company that was founded in the year 1983 by Gulshan Kumar. It focuses on producing Bollywood music and pop music. T-Series is India’s biggest music label as it holds 35% shares of the Indian Music Industry.
After conquering the music industry, T-Series is now set to enter the NFT market. T-Series has decided to collaborate with Hefty Entertainment; a subsidiary of Hungama Digital Media has decided to launch NFTs for their films.
Films like ‘Bhool Bhulaiyaa’, ‘Aashiqui 2’ and the upcoming movie ‘Radhe Shyam’ are on the list of NFT drops. T-Series is set to provide money can’t buy experience to their NFT buyers by this new step.
Hindustan Times
An Indian English- Language Daily newspaper, Hindustan Times founded in the year 1924 and is operating in the nation for 98 years. The company was founded by Sunder Singh Lyallpuri and it is one of the most circulated newspapers in the country.
Hindustan Times is getting to enter the Web 3.0 realm and is, therefore, has decided to launch NFTs. These NFTs will include their original historic creative that was published by the newspaper under their banner of HT Timeless Token.
HT Timeless Tokens
Some of India’s iconic moments have been witnessed by Hindustan Times and they have been captured in their historic creative sections. NFT is being launched by the brand, this way the customers can keep the historic moments with them by buying the NFTs, as they are being digitised. These tokens can be brought with the help of cryptocurrency and Fiat currency.
MG Motor India
The automobile manufacturer company is the Indian subsidiary of Chinese automobile manufacturer SAIC Motor and they are marketed under the British MG marque. MG Motor India was established in 2017 and started its journey in 2019 and now has over 1000 employees working for it.
MG Motor India has become the first carmaker in the country to launch its NFTs. It will launch 1111 units as its first collection. For any MG transaction, MG Motors will sell its NFTs through KoineArth’s NgageN platform and through this platform only they will introduce their first collection of NFT where customers can buy it.
Tech Mahindra
Tech Mahindra is an Indian Multinational IT company founded in the year 1986 by Anand Mahindra. It comes under India’s top 5 IT firms. The company has now decided to explore the NFT industry and will launch the NFT marketplace, their main aim is to give a platform to celebrities and creators to present their art and memorabilia in a digital form.
They are partnering with Mahindra & Mahindra and will be producing digital collectables which will then be sold on the NFT marketplace platform of Tech Mahindra.
Viacom18
Viacom18 is an Indian entertainment network; it was founded in the year 2007, it was a joint venture between Paramount Global and TV18. Various Indian channels are under Viacom18. Viacom 18 has decided to be a part of the NFT market.
Viacom18 has launched its NFT; it has gone with its first collection of 3013 tokens on 14th February 2022. One can find the tokens and can buy them from the marketplace created by Viacom18, Fullyfaltoonft.com.
One can find various ranges of digital collectables based on pop culture. The digital artworks will be inspired by popular Viacom18 shows like ‘Kaisi Yeh Yaariyaan’, ‘Bakra’ and others.
Many brands are using NFT as a part of their marketing strategy. Through this, the brands promise to provide its customers with a unique experience. It is a new way to engage with their customers and a new way to generate revenue. With the growing trend, it seems that NFT is here to stay and it’s only a matter of time before all big brands will start exploring this market.
FAQs
Are NFTs popular in India?
Yes, the NFTs craze has entered India and many people are interested in it. Many Bollywood celebrities are also launching their own NFTs which explains its success.
What is the best NFT marketplace?
OpenSea, Axie Marketplace, CryptoPunks, NBA Top Shot Marketplace, Rarible, and SuperRar are some of the best NFT marketplaces.
How can I buy NFT from India?
First, you need to visit an NFT marketplace, add ether tokens to your wallet and then you can purchase your desired NFTs.
Royal Enfield is easily one of the biggest brands from India founded by and has broken records in selling its motorcycle in India and abroad. But this wasn’t the case 20 or so years back, as Royal Enfield then was sitting on brink of bankruptcy. The automotive company has achieved its best-ever sales with over a million bikes that are sold worldwide. The company’s sales have also increased to about 27%.
Imagine if you brought a Royal Enfield motorcycle in 2001 you would now only have an old rugged bike. But if you would have invested the same amount in shares of Eicher Motors, the company that makes Enfield bikes your investment will be worth Rs 3.53 crore now. Despite operating in a niche segment, Royal Enfield remains one of the most admired motorcycle brands in India.
Royal Enfield is one of the flagship companies of the US 1.1 Billion Eicher Motors. It is an Indian motorcycle company with factories in Chennai, India. The company makes the Royal Enfield Bullet and other single-cylinder motorcycles. The company was established in 1955 and is one of the oldest motorcycles companies.
It first started out as a brand of the Enfield Cycle Company, a British manufacturing firm, then went out to produce the 500 cc bullets. It is a leading manufacturing company that manufactures bullets across the globe, was looking to upgrade its IT infrastructure using industry-leading solutions.
It has manufacturing plants in Thiruvottiyur, Chennai, Oragadam Chennai, Sipcot Industrial plant, Chennai and Campana, Argentina. The tagline of Royal Enfield is “Jab Bullet Chale Toh Duniya Raasta De” which sums it all quite beautiful as it is definitely a motorcycle that enjoys an overpowering presence as people have had to make way for it.
History of Royal Enfield
The Enfield Manufacturing Company Ltd was set up in England to manufacture bicycles. The company manufactured its products under the Royal Enfield Brand.
Not being satisfied with a limited product line of just bicycles, Enfield Manufacturing soon decided to focus on building other types of vehicles. In the year 1899, it started manufacturing a quadricycle called the Royal Enfield Quadricycle which was powered by a rear-mounted engine.
Royal Enfield Quadricycle
In 1901 Enfield manufacturing launched its first motorcycle fitted with a 239 cc engine. As a part of the global expansion strategy, Enfield started selling motorcycles in the Indian market in the year 1949.
In 1955, the Indian government placed an order for eight hundred 350cc Royal Enfield motorcycles for use by its police and armed forces. The Royal Enfield motorcycles were considered an ideal choice for the Indian army for patrolling the country border.
In 1990 Royal Enfield collaborated with the Eicher group an automotive company in India and merged with it in 1994.
In 2000 the company’s sales hit a low of 2000 units per month because it was suffering from problems like poor quality of its products, outdated design, change in taste and preference of customers and the entry of Japanese two-wheeler manufacturers in the Indian market.
Despite having a cult following among its fans many prospective customers saw Royal Enfield Brand as a relic from the past.
The man who is responsible for the tables to turn for Royal Enfield is none other than Siddhartha Lal is the man who is singularly responsible for Royal Enfield. Mr Lal has been credited with being able to make Royal Enfield a bike that is sold worldwide because of his dedication to the company. It was 2004 when Lal had taken over as COO of the Eicher group.
Siddhartha Lal – Former CEO of Royal Enfield
The group had a diverse spread of about 15 businesses including tractors, trucks, motorcycles, components, footwear and garments but none among them were a market leader. Lal decided to divest 13 businesses and put all money and focus behind Royal Enfield and trucks, two businesses where he believed the group had a genuine shot at leadership.
Lal decided to put his full force behind Royal Enfield and the trucks business. Immediately after taking over as CEO, Siddhartha analyzed the strengths and weaknesses of Royal Enfield and started to come up with a strategy to put the brand on its path to revival.
Buying Out Royal Enfield
The brand was surviving well in India until Japanese motorcycles began to enter the Indian market. This is when Mr Lal’s father who owned a tractor manufacturing company and was familiar with the way parts from Royal Enfield worked, swooped in to save the brand. Enfield was one of the biggest companies in South India, especially in the 60s and 70s.
Mr. Lal describes that “It was a bit of a tricky moment, and the firm was going bankrupt that’s when we bought it. My father got to know the people who were running the business because he was buying auto parts from Enfield for his tractor company. But we kept only one tiny portion which was the bullet factory and did not change the design because we liked the shape and the classic looks. We kept the character of the motorcycle, we kept the looks of the motorcycle, but we upgraded it to be relevant to people today.”
In order to pull the brand back from the edge of bankruptcy, the team decided to return to the brand’s roots to look for solutions that could help it soar once again. It is the only automobile Indian company that dint have a Japanese collaboration.
Speaking about this time, Mr Lal said, “They consulted many countries like US, Germany, Italy Austria and the UK to develop an engine or motorcycle, and felt that the UK understood us better.”
We found that engineering support that we could get in the Midlands was second to nowhere else in the world. In the Midlands, the team created the signature Royal Enfield Twin inceptor, which is what gave the bikes an additional boost of power that made them ideal for riding on the highway. This was a huge deal for the brand.
They had tapped into a huge consumer need that was not very vocalized. This allowed the brand to reinvent itself and become a lifestyle product that completely fit into the vibe of travelling and getting out in the world. This has made Royal Enfield quite popular with bike enthusiasts, making it the go-to bike for people who love to travel.
Increase in Sales
In 2005, the company was selling only about 25,000 bikes every year and needed a manufacturing scale and a fixed cost had to be spread around 100,000 bikes. Siddhartha Lal engineered and improved Enfield bikes by riding hundreds of kilometres himself and also initiated a motorcycling culture in the team. Under Lal, as quality improved, sales grew too.
By 2010, the company was selling 50,000 bikes, but on three platforms. That was when Lal decided to build all Enfield bikes on a single platform to maximize economies of scale. The Enfield Classic, launched from this single platform, caught the fancy of customers. Sales shot up six times in half a decade from 50,000 units in CY10 to 589,293 in CY14.
At this point, the sales were just enough to help the company break even. But soon, the tech economy in India began to boom in 2010, which brought about a turning point for the brand. Now, Eicher Motors earns over Rs 8,738 crore in revenues and makes a net profit of Rs 702 crore (FY14). Royal Enfield brings in about 80% of these profits.
Royal Enfield Bikes Sales Volume
Future of Royal Enfield
The prices of Royal Enfield were higher than that of the low powered Japanese motorcycle brands sold in India, but they were cheaper than the major global brands. And in order to keep the motorcycles affordable in the price-conscious Indian market, the company did not revise its prices even after the prospects of the brand started to improve in terms of sales.
Royal Enfield Model
Ex-Showroom Price
Royal Enfield Classic 350
₹1.52 lakhs – ₹2.18 lakhs
Royal Enfield Bullet 350
₹1.24 lakhs – ₹1.6 lakhs
Royal Enfield Thunderbird 350X
₹1.55 lakhs – ₹1.58 lakhs
Royal Enfield Himalayan
₹1.66 lakhs – ₹2.23 lakhs
Royal Enfield Interceptor 650
₹2.77 lakhs – ₹3.1 lakhs
The strong pricing power of the Royal Enfield brand and the improved operating margins rapidly increased the valuation of the company. In 2014, Royal Enfield recorded sales of 302,592 units.
The sales for the year were higher than even the worldwide sales of Harley Davidson for the first time in the brand history. By the year 2015, Eicher Motors had become one of the most expensive automobile stocks in India.
Eicher Motors Stock Price
As of Feb 2022, the stock price of Eicher Motors is ₹2,615.10.
Royal Enfield is an Indian motorcycle manufacturing company headquartered in Chennai, Tamil Nadu, India.
Who is the founder of Royal Enfield?
Robert Walker Smith and Albert Eadie founded Royal Enfield in 1955.
Who makes Royal Enfield motorcycles?
Eicher Motors Limited is the parent company of Royal Enfield that makes Royal Enfield motorcycles.
What is so special about Royal Enfield?
It provides a sense of strength and also a rustic charm. The brand has built itself from being an army bike to a cult classic. These bikes have a huge fan following and also there are several biking clubs exclusive to Royal Enfield motorcycles.
With over 1.3 Billion people, India is the second most populated country in the world and when there are so many people, almost everything is larger than life here. So naturally, it is not a surprise that India is the fifth largest automobile market in the world in terms of sales. Brands like Maruti Suzuki, Hyundai, Tata Motors are already a hit in this country and are making heads turns of their customers with their amazing automobiles.
While some brands experience immense success in the country, some of them got exposed to failure as well. In this industry, some automakers failed to make a place in the fifth-largest automobile market in the world. This article will talk about all those automakers that failed to set their foot in India and the reason behind it. So without any further ado, let’s get started.
“Car designers are just going to have to come up with an automobile that outlasts the payments.”
Why Automakers are Struggling to Succeed in India?
Two brands that can set their name on the top automakers’ list with their powerful performance in the country are Honda and Hyundai. It wouldn’t be wrong to say that they are ruling the Indian market.
On the other hand, there are some of the automakers who are struggling in our country to lay their foundation. Some of the reasons for this are listed down below:
Increasing fuel price is said to be one reason.
It is also revealed that some concessional GST rate was not allowed by the Government.
One of the reasons is also the higher road taxes.
India is a price-sensitive market and people mostly focus on small cars here, for their needs. A company has to be very precise about this.
Planning of the products by the automakers was poor and naturally, they were not able to adapt to the market.
Another reason is some of the companies are not able to judge the growth of India’s automobile market.
India is a country where a single company dominates more than a quarter of its sales. Maruti Suzuki and Hyundai are the top two companies that dominate the automobile industry. There are some global known brands who failed to set their foot in India and we are here to discuss them.
Harley Davidson
Harley Davidson
The legendary American Cruiser bike was not able to set up its brand in the Indian market. It is said that in 10 years, Harley Davidson was able to sell a little more than 27,000 units in the country. While its competitor Royal Enfield sells double the number of bikes every month. Some of the reason for this is down below:
Not the Right Market
India is a country that is considered one of the biggest two-wheeler markets in the world, but it is not a market for big bikes. In India, over 90% of two-wheelers are small motorcycles and scooters as they are easy to maintain as well.
Expensive Offerings
Another vital reason has to be the price; the most affordable bike from this brand costs somewhat 4.7 Lakh. That kind of pricing is extremely high for the people living in a country like India.
Tough Competitors
Royal Enfield proved to be a better companion for the Indian customers over Harley Davidson, in terms of price, lighter in weight, and easier to maintain.
High Repair Cost
India’s roads are somehow filled with potholes and Harley Davidson bikes are quite expensive to repair if it is damaged by potholes.
General Motors
Chevrolet by General Motors
This American multinational automotive manufacturing company is considered as one of the best and biggest manufacturers in the country but unfortunately, it was not able to establish its power in India. When General Motors first came to India, it was able to sell quite a decent number of cars but with time, the average popularity started declining. So, General Motors 2017 decided to close its operation in India. Some of the reasons that it failed in India are:
Failed Business Strategy
The management of a company is one of the most important factors for its survival. As per reports, decisions regarding the company took a lot of time which resulted in not being able to reach a proper strategy for the business at a time.
Weak Dealership Networks
The dealership networks of General Motors were quite weak. The customers’ main issue was with the dealerships as they were not that confident regarding the products of GM.
Bad Resale Value
GM launched over 20 different models in 20 years and also withdrew 10 of them. Naturally, the change of the model lineup affected the resale value badly, and the customer service was also not up to the mark.
Fierce Competitors
General Motors’ technology was not that modern. Reports said that there are cars that barely pass the emission tests. Other brands focused on updating the technology of their car and were quite fierce competitors for GM.
Failed to Attract the Right Audience
GM never introduced top models that are famous in other countries in India. Naturally, it was not able to attract the attention of people in India.
Ford
Ford
Probably one of the biggest shocks the Indian automobile market got when Ford decided to stop making cars in India. The products were well made and were affordable to buy as well. Still, it failed to crack the Indian market, and the reasons are down below:
Sudden Rise in the Price Factor
The sudden rise in the price factor of Ford is one of the reasons, the company lost its place in the Indian market, the maintenance cost started rising of the new models. This high ownership cost became a problem for the customers; which also resulted in decreased sales.
Not Concentrated on the Right Models
Ford didn’t concentrate on SUV when it started getting momentum. Thus it misses out on a great opportunity to use the model to encourage the brand in the Indian market.
Wrong Investment Decisions
The cost structure is another problem, Ford invested where it was not needed, for example, they invested in world-class factories. It was not able to meet the expectations of its potential customers.
Lack of Proper Marketing
Ford slugged in making its brand big in India, while other brands like Hyundai worked 24/7. This is one of the reasons, plus the aggression that was needed for marketing, was missing in Ford’s startegy.
The Automobile market in India is a huge one, one needs to concentrate on various structures to make their brand a successful one in the country. The automakers that failed in this country are a big lesson for those automakers that wanted to make the 5th largest automobile market a hub for their brand.
FAQs
Which Indian car companies are closing?
Ford, General Motors, Fiat, and Harley had exited the Indian automotive market.
Which car company stopped making cars in India?
Ford India closed its operation in 2021 due to huge mounting losses.
Owning a luxury car is one of our childhood dreams for most of us. Be it owning a normal car or a luxury beast on the road, a four-wheeler is one of the goals that people dreamt to achieve in their life. Luxury cars are quite common in the cities of UK, US and UAE but now they are gradually becoming familiar in the streets of the cities of India as well.
What’s better to choose your dream car from a showroom that has some of the biggest collections of luxury cars? In this article, we are going to talk about India’s largest buyer and seller of luxury used cars that is Big Boy Toyz. So without any wait, let’s look at how does Big Boy Toyz make money.
“Take care of your car in the garage, and the car will take care of you on the road.”
Big Boy Toyz is also known as BBT was founded in the year 2009 by Jatin Ahuja. His goal was to transform and make the previously owned exotic car business big in a country like India. One can find cars like BMW, Audi, Range Rover, Aston Martins, Bentley, Lamborghini, and others parked in their showrooms.
Jatin Ahuja, Big Boy Toyz Founder
At first, it was a one-showroom company based at Gurugram, it is also where the headquarter of the company was situated. Now, it can be found in Hyderabad and Mumbai as well. Ahuja started the business with an investment of just ₹70,000. It became so popular that, in its very first year it experienced a turnover of ₹6 Crore.
Big Boy Toyz Showroom
Over the years the brand has secured to expand its name over the industry and secured its name in the list of top businesses in the country. In 2017, it gave an opportunity to its customers to buy luxury cars online, a first for any company in the country. Not only that, but BBT also started dealing with Premium motorcycles like sportbikes, cruisers, and other exotic two-wheelers in 2019.
By 2023, it is said that India’s used car market is to cross the $25 billion mark and Bigg Boy Toyz seems to be leading this industry with its strong calibre.
Target Audience of Big Boy Toyz
Jatin Ahuja started this business with premium car dealers. Since 2009, BBT has supplied over 6000 cars to people from different cities of India. The prices of the cars are somehow between ₹50 Lakhs to ₹4 Crores, naturally, they target the customers who are celebrities or are from the upper-middle-class that want on getting luxury in their collections of four-wheelers.
Jatin Ahuja with Bollywood Actress, Neha Dhupia
These people are free from the stigma of buying pre-owned cars and are at the age of 35 to 50 years. With its price range, it has now started working on making luxury cars accessible to other sections of society as well.
Business Model of Big Boy Toyz
BBT mainly focuses on selling luxury four-wheelers to the customer and that is mainly how they make money. The quality of the cars that they sell to their customers is what makes them more unique. Their USP is all about making their customers happy.
Price definitely plays a big role in attracting customers but apart from that, another thing that plays a significant role is how pre-owned cars are owned by some of the biggest celebrities in the country. To be able to drive a car that is driven by their favourite celebrity is quite a good offer to be missed.
How does Big Boy Toyz Make Money?
Celebrities from the Bollywood industry and sports industry are some of the major customers of Big Boy Toyz. They mainly buy and sell their cars as well, because they lose interest in the luxury beast quite quickly than expected when another catches their eyes.
With its showrooms in three of the business cities in the country, it has been able to attract the attention of the customers quite well. In a year, it has been able to sell 340 to 400 cars easily. They mostly sell one to two cars a day. This is how the company generates revenue mostly. It has also partnered itself with Dharma production and with MTV Music Television Channel;
What is Unique About Big Boy Toyz?
Some of the features of BBT that make it unique are listed below:
It mainly deals with buying and selling luxury cars and now some bikes as well.
Every car that is in the showroom of BBT goes through 151 quality checks before it is certified by BBT.
Big Boy Toyz provides all the insurance history of the preowned cars to its customers.
BBT also takes note that all the cars have not run more than 20,000 KM.
BBT ensures that none of the car’s meters is tampered with or face any kind of problems and is as good as new.
Revenue of Big Boy Toyz
The revenue of Big Boy Toyz was between ₹100 – ₹500 Crore as of the financial year 2020. Surprisingly even during the Covid, the brand was able to sell over 140 luxury cars in just the first half of the fiscal year. BBT experienced a 48% increase in the demand for luxury cars post the first lockdown during the Covid.
BBT is a kind of company that is literally giving an opportunity to their customers to own their dream cars. The best part is that, even after the Covid lockdown, they experienced a surge in the demand for luxury cars. The company is proving its mettle every day, by growing its business in the tough time, it is surely going to lead the pre-owned car market in the near future.
FAQ
How does Big Boy Toyz make money?
BBT sells preowned cars to customers, its main target audience is celebrities or the upper-middle class who are looking for a preowned luxury car. They sell one to two cars a day.
What is the business of Big Boy Toyz?
Big Boy Toyz mainly focuses on buying and selling pre-owned luxury cars.
Who is the owner of Big Boy Toyz?
Jatin Ahuja is the founder and managing director of Big Boy Toyz.
