The Nano’s failure to sell stands in stark contrast to the rest of the Indian car market. From motorbikes to cars and trucks, growth in every segment is picking up. Passenger vehicles, including SUVs, jumped 38 percent in June.
- South Asia
Frontier Car Group, a Berlin startup that has built a used car marketplace targeted specifically at countries outside of Western Europe and North America, is announcing $58 million in funding — $41 million in equity and $17 million in debt funding — to continue expanding its business into Africa, Latin America and Asia, where it has sold 50,000 vehicles since launching at the end of 2016 and is on track to do $200 million in annualised revenues per year.