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September 2021
10:17 PM IST
News Headlines
Former TT champ Martin to retire after world championships        Gill, Rana are about to shock the world: KKR chief mentor Hussey        Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025        Small cars too need adequate number of airbags to ensure safety, says Gadkari        Taliban-run Kabul municipality to female workers: Stay home        Nepal observes Constitution Day; PM Deuba vows to protect, implement statute        Adityanath releases report card; says UP has seen complete transformation under BJP rule        BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba        Charanjit Singh Channi to be next CM of Punjab        Boxing: Mohammad Hussamuddin sails into QF        Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana        Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students        Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh        Schools in Kerala to reopen from Nov 1        Amarinder Singh resigns as Punjab CM, says will not accept Sidhu for top post        Sachin stuns World Championships medallist Gaurav Bidhuri        Sensex, Nifty snap winning streak, end in red        Rahul attacks BJP govt over unemployment issue        International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi        Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs        
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Business News
FADA expresses shock over Ford India's announcement to stop manufacturing vehicles in India
 
New Delhi, The Federation of Automobile Dealers Associations (FADA) on Thursday expressed shock over Ford India's announcement to shut down production of vehicles in India.
In a statement, FADA President Vinkesh Gulati said, "The Auto Retail fraternity is really shocked to hear another US Auto Major, Ford India's announcement where it has said that it will shut down production with immediate effect. While trying to handle dealer anxiety, Ford India President and MD Anurag Mehrotra called me personally and assured that they will adequately compensate dealers who continue to offer vehicle service to customers. Though this is a good beginning, it is not enough as there are 170 dealers who in-turn have 391 outlets and have invested Rs 2,000 crore for setting up their dealerships. While Ford India employs 4,000 people, dealerships employ around 40,000 people without displacing them from their home locations thus being continuously skilled and up-skilled all this while.''
Ford India dealers currently hold 1,000 vehicles which amount to Rs 150 crore via inventory funding from reputed Indian banks, he said, adding they (the dealers) also carry demo vehicles which were 100's in numbers.

Moreover, Ford India also appointed multiple dealers until five months back and such dealers would be at the biggest financial loss in their entire life, he said.
Mr Gulati said FADA had been requesting Governing of India to roll out Franchisee Protection Act as due to its unavailability, auto dealers were not adequately compensated like their counterparts in Mexico, Brazil, Russia, China, Indonesia, Malaysia, Japan, Italy, Australia, Sweden and many other countries, where the law exists.

''After General Motors, Man Trucks, Harley Davidson, UM Lohia and multiple fly by night Electric Vehicle Players, Ford India is the 5th biggest exit from Indian markets since 2017,'' he said.
He recalled that Parliamentary Committee on Industry in its report number 303 which got released in December 2020 had recommended Ministry of Heavy Industries that the Government should enact the Franchise Protection Act for Automobile Dealers in the country, so that it was a win-win for both, the Auto Original Equipment Manufacturers (OEMs) as well as the Auto Dealers, but will also be beneficial to customers in the long run.


Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025
Small cars too need adequate number of airbags to ensure safety, says Gadkari
Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana
Sensex, Nifty snap winning streak, end in red
Bringing diesel, petrol in GST may be discussed in Council meeting, also on agenda is taxing Swiggy, Zomato
PepsiCo set up food plant in Mathura
Without GST documents Arecanut transporting vehicles seized
Wipro and First Horizon Bank forge a cloud-based fintech future for virtualBank
Mahindra XUV700 makes a pitstop in Bengaluru
India's industrial production grew 11.5 per cent in July on low base, recovery
FICCI, PHDCCI welcome PLI for textile sector
Domestic air passenger traffic up 31% at 66 lakh in Aug on higher capacity deployment: ICRA
Jio completes 5 yrs of operations; tech world congratulates
Hero MotoCorp and Harley-Davidson expand customer touch points, open bookings for next lot of ‘Pan America 1250’ adventure bike
Rupee inches 3 paise higher to 73.03 against US dollar in early trade
HDFC Life to acquire Exide Life Insurance for Rs 6,687 crore
M Suresh takes over as Member (Air Navigation Services) at AAI
Tata Motors launches Tigor EV with price starting at Rs 11.99 lakh
Google removes 95,680 content pieces in July in India: Compliance report
Maruti Suzuki announces hike in car prices from September citing high input costs
KERALA NEWS
Schools in Kerala to reopen from Nov 1
 Thiruvananthapuram, Schools in Kerala will be reopened from November 1, Chief Minister Pinarayi Vija  
Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs
PDP leader Poonthura Siraj passes away
Rajya Sabha MP Suresh Gopi courts controversy
INTERNATIONAL NEWS
Taliban-run Kabul municipality to female workers: Stay home
 Kabul, Sep 19 (AP) Female employees in the Kabul city government have been told to stay home, with w
Nepal observes Constitution Day; PM Deuba vows to protect, implement statute
Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students
International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi
NATIONAL NEWS
Adityanath releases report card; says UP has seen complete transformation under BJP rule
 Lucknow, Sep 19 (PTI) Asserting that Uttar Pradesh has undergone a complete transformation under his
BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba
Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh
Rahul attacks BJP govt over unemployment issue
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