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Teji Mandi: Three things investors should know on October 13, 2020

12:01 PM Oct 13, 2020 | Teji Mandi

Citroen to enter Indian mass-market EV space by 2022

French carmaker Groupe PSA is planning to focus on cleaner fuel including electric powertrain and SUVs for its Citroen brand to carve a space for itself in the highly competitive Indian passenger vehicle market.

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Groupe PSA is working on a mass-market small electric SUV codenamed eCC21. It is likely to be priced around Rs 8 lakh and hit the Indian roads in 2022.

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Jio crossed 400 million the user base in July

Reliance Jio became the first mobile phone operator to cross 400 million subscribers in India. It added an industry-leading 3.55 million users in the month of July.

Jio ended July with 400.8 million users of which 78.09% were active users.

Bharti Airtel added 3.26 million wireless subscribers to end the month with 319.9 million users, of which 97% were active. Vodafone Idea (Vi), however, continued to lose users, giving up 3.72 million subscribers to end July with 301.3 million, of which 89.33% were active.

Tractor sales in 2020 could become the best-ever in a year

Domestic tractor sales between January and September have surpassed the sales of the corresponding period in 2019, becoming the first segment to achieve the feat this year.

Cars, SUV, two-wheeler, commercial vehicle and three-wheeler segments are still in the red on a cumulative basis, till September.

September sales this year were almost at a two-year high. October typically churns out the highest tractor volumes in a year owing to the festive days.

Manufacturers are expecting sales in the last three months of the year to surpass the sales of not just last year, but of 2018 too, thus making it the best sales in a year so far.

Teji Mandi Newsletter: Theatres return, Edtech booms and huge response for Thar

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