Commercial vehicles witnessed a downswing of 42.20 per cent to 67,372 registrations versus 1.16 lakh in March 2020. Two-wheeler registrations totalled 11.95 lakh last month compared to 18.46 lakh in March 2020, marking an downturn of 35.26 per cent.

However, passenger vehicle registrations edged higher by 28.39 per cent to 2.79 lakh from 2.17 lakh in the year-ago period.

The veteran GM engineer’s Global Innovation team is looking for new enterprises to expand the automaker’s sources of revenue well beyond vehicle sales and is incubating ventures from commercial delivery services to vehicle insurance, to address future markets worth an estimated $1.3 trillion. That doesn’t include flying cars, a market sector that alone could be worth $1.3 trillion, Fletcher told Reuters.
The goal is to become a diversified purveyor of mobility services – the automotive equivalent of Apple, with revenue that rolls in monthly or quarterly from software and services long after the initial product is sold.