Volkswagen Passenger Cars India announced the commencement of its Autofest Mega Exchange Carnival 2024. The programme would offer customers a chance to upgrade to a new Volkswagen car with exciting benefits and deals available from third July to 20 July 2024. 

The programme also marks the rebranding of used car business by Volkswagen from Das WeltAuto to ‘Volkswagen Certified Pre-Owned’. The move is in line with the brand’s global positioning and aimed at leveraging the strength and trust of the core Volkswagen brand, enhancing the pre-owned car programme's visibility and value in the India market. 

Volkswagen opened its first rebranded ‘Volkswagen Certified Pre-Owned’ car showroom in Coimbatore recently. By successfully operating a successful multi-brand pre-owned car business with emphasis on Volkswagen branded models, the ‘Volkswagen Certified Pre-Owned’ brand is keen to provide refurbished, certificated and warranty enabled cars wherever applicable through its retail channel. 

While doing so, the Brand aspires to create a proposition that sets it apart from industry peers thanks to a frictionless and fully digitised customer journey through the rebranding initiative. 

Ashish Gupta, Brand Director, Volkswagen Passenger Cars India, mentioned, “Today, we are delighted to announce the start of Autofest Mega Exchange Carnival that will give customers a chance to upgrade to a new Volkswagen car. With Autofest customers can avail exciting deals and offers that are available for a limited time period. As we continue to holistically focus on the Indian car market, we are also focusing on offering customers strong residual value in their new Volkswagen cars.”

“We have also announced the strategic rebranding of our used car business to ‘Volkswagen Certified Pre-Owned’ and also launched the first rebranded store in Coimbatore. Rebranding our used car business aligns with the global positioning of this business vertical for the Brand, while also emphasising more on the trust that the Volkswagen Brand name commands. This move will help us better serve the growing demand for pre-owned vehicles, providing customers with high-quality, certified cars that they can rely on. We have already witnessed strong demand during first half of this year and we expect this momentum to grow stronger during the festive season,” he added. 

The rebranding from Das WeltAuto to ‘Volkswagen Certified Pre-Owned’ comes at a time of growing demand for pre-owned cars in the Indian market as prices of new cars soar higher, making even the run of the mill automobiles unaffordable for many who aspire them to have. 

While the used car valuation – in line with the drastic rise in new car prices – has been increased quite a bit, it is satisfying the need for those who aspire or require to have a vehicle to commute or take their family out without breaking the bank for a new car that has a life of 15 years after all. 

Experiencing a ten-fold growth in volumes over the last five years, the automaker’s retail sales of pre-owned cars through the channel have witnessed a growth of 12 percent last year, a trend that has continued into the first half of 2024. It is the Tier 2 towns that have emerged as a notable driver of this growth, contributing significantly to the increasing demand. 

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Tata Motors Passenger Vehicles has announced it will present the Indian Women’s Cricket Team with the first lot of the soon-to-be-launched Tata Sierra SUV following their victory at the ICC Women's World Cup. The Tata Sierra is slated to be launched on 25^th November.

The company will gift the top-end model of the Sierra to each team member as part of its salute to the team’s journey and contribution to the country.

Shailesh Chandra, MD and CEO, Tata Motors Passenger Vehicles, said, “The Indian Women’s Cricket Team has made the entire nation proud with their extraordinary performance and remarkable win. Their journey stands as a true testament to determination and the power of belief, qualities that inspire every Indian. At Tata Motors Passenger Vehicles, we are privileged to present these legends with another legend, The Tata Sierra. This is our salute to their spirit and the pride they have brought to the nation – Two legends, One spirit, Infinite inspiration.”

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Maruti Suzuki India, the country’s leading passenger vehicle manufacturer, has attained a new milestone by crossing the 30-million-unit sales milestone in the domestic market.

The new benchmark was attained by the company over a course of 42 years, with the first 10 million unit sales taking 28 years and 2 months to achieve.

The 20 million unit sales took 7 years and 5 months, while the recent milestone took just 6 years and 4 months.

Interestingly, the entry-level hatchback Alto was the most preferred model in the country, with over 4.7 million units sold, followed by Wagon R with 3.4 million units and the sporty Swift with 3.2 million units.

The Brezza and Fronx SUVs also played an instrumental role in contributing to the sales milestone, being featured among the top 10 models sold in the country.

It was on 14^th December 1983, Maruti Suzuki India delivered its first model, the iconic Maruti 800, to its first customer.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “When I look at the length and breadth of India and think that 3 crore customers have placed their trust in Maruti Suzuki to realise their dream of mobility, it fills me with humility and gratitude. Yet, with car penetration at approximately 33 vehicles per 1,000 people, we know our journey is far from over. We will continue to make every possible effort to bring the joy of mobility to as many people as we can, while also be an asset to both the economy and the environment at the same time.”

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American electric vehicle maker Tesla has appointed Sharad Agarwal, former Chief Business Officer of Classic Legends, as its new business head, according to a report by Bloomberg.

The report further stated that Agarwal joined the EV maker a week ago and is tasked to drive sales for Tesla in India, which as per industry observers, has not performed as per the company’s expectations.

Agarwal, an automotive industry veteran, had begun his career with TVS Motor Co as Area Sales Manager in December 2002, before joining Mahindra First Choice Wheels as its Business Head for North and Eastern region in March 2007.

It was in January 2013, he moved to Audi India as the head of Sales, before taking over as the head of Lamborghini India in April 2016, where he spent almost 9 years, before joining Classic Legends.

During his tenure at Lamborghini, the Italian super luxury car maker saw its dealerships across India achieved a Return on Sales (RoS) of more than 10 percent, setting a new benchmark for the automotive business in the country. He also grew India’s ranking for the automaker as the third market globally in terms of PR visibility in 2021.

He also expanded Lamborghini India’s reach to over 60 cities, with sales volumes from Tier 2 and Tier 3 cities contributing more than 25 percent of the total.

Tesla, which formally started deliveries in September 2025 with its first dealership in Mumbai and the second facility in Delhi, has till date delivered 114 vehicles, of the estimated 600-plus bookings.

File photo for representational purposes only.

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Mumbai-headquartered business conglomerate Mahindra & Mahindra has announced its financial results for Q2 FY2026 with consolidated Revenue reaching INR 461 billion, marking a 22 percent YoY growth.

The consolidated Profit After Tax (PAT) stood at INR 36 billion, a 16 percent increase YoY. The company stated that, excluding specific one-time impacts, PAT growth was 28 percent YoY.

Mahindra’s Auto business reported sales of 262,000 vehicles, up 13 percent, which includes around 146,000 SUV sales. This translated to a revenue of INR 271 billion, up 25 percent YoY, while net profit came at INR 15 billion, up 8 percent YoY.

On the other hand, the farm sector reported its highest ever Q2 market share at 43 percent with sales of 123,000 units, up 32 percent YoY. The revenue came at INR 102 billion, up 25 percent, while consolidated net profit came at INR 11 billion, up 45 percent YoY.

Dr. Anish Shah, Group CEO & Managing Director, Mahindra & Mahindra, said, “We are pleased with the strong execution and solid performance delivered across the group in Q2 FY2026. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45 percent PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential.”

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), Mahindra & Mahindra, said, “Strong performance of our Auto and Farm businesses continues in Q2 FY2026 reinforcing our leadership position, with a gain of 390 bps YoY in SUV revenue share, and 100 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 43 percent market share. Our Auto Standalone PBIT margin (excl. e-SUV Contract Mfg.) improved by 80 bps to 10.3 percent and core Tractor PBIT margins improved by 190 bps to 20.6 percent.”

Amarjyoti Barua, Group Chief Financial Officer, Mahindra & Mahindra, “Our solid Q2 consolidated results reflects the strength of our diversified portfolio. We continue to deliver on our strategic priorities. We had strong cash generation in the first half, delivering over INR 100 billion of operating cash flow. We remain committed to sustainable growth and value creation.”

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