United Nations Alliance of Civilisations and BMW Group has honoured India’s grassroots Initiative ‘Football and Beyond’ during the 10th UNAOC Global Forum. ‘Football and Beyond’ is the initiative of India-based organisation ‘Shreeja India’, which is one of the ten grassroots initiatives that were honoured recently under the Intercultural Innovation Hub (IIH), a joint initiative of the United Nations of Civilizations (UNAOC) and the BMW Group. The joint initiative was implemented with the support of Accenture.

The ‘Football and Beyond’ initiative was honoured at a ceremony held in Cascais, Portugal, under the theme ‘United in Peace: Restoring Trust, Reshaping the Future – Reflecting on Two Decades of Dialogue for Humanity’.
The Forum convened prominent figures, political leaders, UN officials including the United Nations Secretary-General, António Guterres, as well as representatives from civil society, academia, and the private sector, to share insights and reflect on the 20 years of the United Nations Alliance of Civilizations’ impactful work.

The ’Football and Beyond’ initiative leverages the unifying power of football to bridge divides across diverse backgrounds while promoting inclusivity and empowerment. By using football as a development tool, the initiative integrates sports with education, mental wellness, social awareness, and skills development. This holistic approach empowers girls and uplifts communities that lack access to essential services such as basic education, nutrition, healthcare, and livelihood opportunities, paving the way for sustainable growth and social cohesion.

"Shreeja India’s inclusive tactic to empower underprivileged girls and children with a sports-based endeavour is producing powerful narratives in the grassroots of rural India. With the recognition of the Intercultural Innovation Hub, we feel more driven to connect, collaborate and contribute towards breaking barriers and building cohesive societies," said Somasree Basu, Program Manager at Shreeja India.

“With the Intercultural Innovation Hub, we celebrate outstanding initiatives implemented by extraordinary individuals working to bridge intercultural divisions in innovative and impactful ways,” said Ilka Horstmeier, Member of the Board of Management of BMW AG People and Real Estate, Labour Relations Director. “At the BMW Group, we believe that diversity not only enhances our company but is crucial for social unity and global progress. That is why we are deeply thankful for our strong partnership with the UNAOC. This collaboration allows us to support remarkable initiatives like Shreeja India’s work in empowering underprivileged children, making a tangible difference in their communities and contributing to a better and more inclusive Indian society,” she added.

With the Monetary Policy Committee (MPC) meeting led by Reserve Bank of India (RBI) Governor Shaktikanta Das leaving the benchmark repo rate unchanged at 6.5 percent and the policy stance ‘Neutral’, the fight against high and stubborn inflation is far from over. 
With the possibility of any reduction in interest rates for car buyers a distant dream yet, the 5.4 percent GDP during the first half of the current financial year – which amounts to a two-year low – and a Rupee that seems to struggle to keep up with the US Dollar are reflective of the challenges the Indian economy has come to face.  
Against these developments that also saw manufacturing moderate considerably, it is not surprising that automakers have announced a price hike, effective 1 January 2025 for their products. 
Citing rising input costs and operating expenses, it is the passenger vehicle (car and SUV) manufacturers that are at the forefront of the price hike announcements. 
Passenger vehicle market leader, Maruti Suzuki India has announced that it will hike the prices of its vehicles by up to four percent. Mahindra & Mahindra has said that it will hike the prices of its SUVs by three percent. 
JSW MG Motor India has decided to increase of the prices of its entire model line-up by up to 3 per cent whereas Hyundai Motor India will be hiking the price of its offerings by up to INR 25,000. 
Luxury automobile manufacturers Mercedes-Benz, BMW and Audi have announced that they will increase the price of their vehicles by up to three percent each on the back of escalating material costs, fluctuating commodity prices, logistics expenses and inflationary costs. 
Stating that the price increase of passenger vehicles in January 2025 will drive up the already ‘over the roof’ prices, an industry expert mentioned that even the most basic and entry-level car – the Maruti Suzuki Alto – costs no less than INR 470,000 on-road Mumbai. 
Of the opinion that passenger vehicles are already out of the reach of many young earners and those aspiring to move up from a two-wheeler to a decent set of four-wheels, he averred that the growth of the auto industry in India during the last quarter of this financial year and the first half of the next financial year is likely to be muted. 
Any change in the monetary stance by the government and the apex bank, he said further, will take time to percolate into the national economy and its effect would be best felt during the next festive season. 
Another round of hike amid inflationary pressure of automobiles by some manufacturers in April 2025 is another possibility, it seems.  

Image for representative purpose only.
 

Formula 1 and the Dutch Grand Prix promoter have agreed a one-year contract extension that will keep Circuit Zandvoort on the Formula 1 calendar until the 2026 season. The promoter has decided not to continue on the schedule after 2026, following extensive thought and debate.

The resumption of the Dutch Grand Prix in 2021 coincided with an era of dominance for local star Max Verstappen, who has won the race three times and been named World Champion in each of the event's four editions. The event has become well known for its experience, with Dutch and foreign tourists alike converging to see the thrill of Formula 1, Formula 2, Formula 3, F1 Academy and other teams battle around the circuit's famed banked bends. It has also established itself as a premier sustainable sports event, pioneering technology that are now utilised throughout the Formula One season.

The 2025 edition of the event is scheduled to take place from 29 to 31 August. The date for the last race in 2026, which will feature a Sprint for the first time at the Dutch Grand Prix, will be confirmed next year. Tickets for the 2025 race are already being sold, and details on the 2026 final event will be released soon.

Stefano Domenicali, President and CEO, Formula 1, said, “I am incredibly grateful for the work that the team at the Dutch Grand Prix have done in recent years. They raised the bar for European Grands Prix in terms of event spectacle and entertainment, supported the development of young talent by hosting F2, F3 and our F1 Academy series and have also pioneered sustainable solutions that have inspired our events around the world as we drive towards being Net Zero by 2030. All parties positively collaborated to find a solution to extend the race, with many options, including alternation or annual events on the table, and we respect the decision from the promoter to finish its amazing run in 2026. I want to thank all the team at the Dutch Grand Prix and the Municipality of Zandvoort who have been fantastic partners to Formula 1.”

Robert van Overdijk, Director, Dutch Grand Prix, said, “The Dutch Grand Prix is the result of a unique collaboration between SportVibes, TIG Sports and Circuit Zandvoort, who shared the ambition of bringing the race back to the Netherlands. What we have achieved so far is undoubtedly a huge success. The appreciation from our visitors, drivers and teams has been unprecedented, and we are incredibly proud of that. While today’s announcement signals the end of a monumental era, we are confident there is plenty more for fans to look forward to at the Dutch Grand Prix in 2025 and 2026, including the Sprint in 2026. We are a privately owned and operated business, and we must balance the opportunities presented by continuing to host the event, against other risks and responsibilities. We have decided to go out on a high with two more incredible Dutch Grands Prix in 2025 and 2026. We wanted to take this step while our event is adored and supported by passionate fans, residents and the Formula 1 community. I want to thank Stefano Domenicali and all the team at Formula 1 for the hard work that has seen multiple contract extensions realised and the Dutch Grand Prix be such a success.”

Honda Motorcycle & Scooter India (HMSI) dispatched 4,72,749 units in November 2024. Of these, 4,32,888 units accounted for domestic sales, an increase of three percent when compared to the sale of 4,20,677 vehicles in November 2023. The company exported 39,861 units in the respective month. 
Royal Enfield sold 72,236 units in the domestic market in India in November 2024 marking a decrease of four percent when compared to the sale of 75,137 vehicles in November 2023. The two-wheeler major exported 10,021 units in November, up 96 percent as compared to the export of 5,114 vehicles in November 2023. 
Hero MotoCorp sold 459,805 units in November 2024 marking a 6.36 percent decrease when compared to the sale of 491,050 vehicles in November 2023. Domestic sales in November 2024 were 439,777 vehicles, down 7.66 percent when compared to the sale of 476, 286 units in November 2023. Exports saw a growth of 35.65 percent increase with 20,028 units dispatched in comparison to 14,764 units dispatched in November 2023. 
At 4,21,640 units in November 2024, Bajaj Auto has announced a five percent increase in total sales year-on-year. In the domestic market, the company saw a sales decline of seven percent at 2,40,854 units. In November 2023, it sold 2,57,744 vehicles. 
At 1,80,786 units, the two-wheeler major witnessed a 24 percent rise in exports in November 2024. In November 2023, it exported 1,45,259 vehicles. 
Suzuki Motorcycle India Pvt Ltd achieved a total sale of 94,370 vehicles in November 2024, up eight percent when compared to the sale of 87,096 units in November 2023. 
The domestic sale in November 2024 stood at 78,333 units, up seven percent when compared to the sale of 73,135 units in November 2023. Exports grew 15 percent at 16,037 units in November 2024 as compared to 13,961 units in November 2023. 
TVS Motor Company registered a total sale of 401,250 units in November 2024, an increase of 10 percent when compared to the sale of 364,231 units in November 2023. Of these, 392,473 two-wheelers were sold in November 2024 respectively, marking a 12 percent increase in two-wheelers with the sale of 352,103 units in November 2023. In November 2024, 8,777 three-wheelers were sold marking a modest decline when compared to the sale of 12,128 units in November 2023. 
In the domestic market, the two-wheeler business of TVS Motor Company witnessed a four percent growth with the sale of 305,323 units. In November 2023, the company sold 287,017 units.  The motorcycle category saw a growth of four percent with the sale of 189,247 vehicles as compared to the sale of 172,836 units in November 2023. Scooter witnessed a growth of 22 percent with the sale of 165,535 units in November 2024 as compared to the sale of 135,749 vehicles in November 2023. 
The company recorded a 57 percent growth in electric vehicles with a sale of 26,292 units in November 2024 as compared to the sale of 16,782 vehicles in November 2023. The iQube e-scooter has been a big success, steadily closing the gap with e-scooter market leader Ola Electric’s offerings in the same category.
TVS Motor Company exported 93,755 units in November, clocking a growth of 25 percent year on year when compared with the sale of 75,204 units in November 2023. 
 

Stellantis CEO Carlos Tavares has stepped down due to differences with the board, a news report in the CNN.com (Business) has mentioned. It has also mentioned that Tavares faced criticism for the lack lustre performance of the Group brands – formed with the coming together of FCA and PSA Groups – during the nine months of the current calendar year in the US. 
The announcement of Tavares’ departure comes at a time when popular group brands such as Jeep, Chrysler and Dodge have seen sales drop as the ‘affordable’ models are discontinued under the wake of a ‘lean’ strategy and in what looks like an attempt to elevate the brands to offer premium luxury vehicles. 
In India too, the Jeep vehicles are priced much higher than they may be worthy of. It is no surprise therefore that they are being undercut by Jeep-like vehicles from brands like Mahindra, which costs many million Rupees less. 
Beginning its journey in Mumbai after Independence by assembling Willys CJ3 Jeep under license from Willys Corporation, Mahindra has grown to be a leading utility and SUV vehicles manufacture in India. It has also found a strong footing in export markets of US, Australia and South Africa with its 4x4 vehicles. 
Also failing to extensively refresh or introduce next generation models such as the Compass in India, Jeep is not doing great in India either, the figures indicate. The other brand, Citroen seems to be better positioned and more agile in its ability to learn and adapt to the market requirements in the country. It too is yet to show its prowess to set the sales charts on fire in India.   
Criticised to have taken the lean strategy a bit too far to come back and bite the group where it hurts the most, Tavares’ stepping down comes at a time when dealers across many parts of the world struggle to move the inventory on their lots. 
Several workers laid off at several plants of the group – particularly in the US – have also criticised Tavares for the situation Stellantis got into in that market. 
The situation in other markets is claimed to be not very different either. 
The process to appoint the new permanent CEO is underway with a Special Committee of the Board expected to announce one in the first half of 2025 calendar year, as per the report. A new Interim Executive Committee, chaired by John Elkann, will be established, the report further mentions. 
Global sales volume for the first half of this year fell 10 percent in the case of Stellantis. In the third quarter, it plunged 20 percent. 
With many loyal buyers of Dodge and Jeep vehicles keeping away as the prices have risen way beyond, sales in US have been down by 17 percent in the first nine months of the year.