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Cars24 plans to double retail presence in 2020

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Cars24 shuts down

New Delhi, Jan 13 : Used car marketplace Cars24 targets to double its retail foorprint across the country in 2020 with planned launches of around 200 branches.

The company currently has 200 branches with the latest being launched in Bhubaneshwar, Odisha on Monday.

According to a company statement, in past one year, it has expanded its presence to 73 cities from 18 cities in 2018 and doubled the number of branches from 100 in 2018 to 200 in 2019.

“Given our expansion plan in 2020, we will be adding approximately 200 more branches, perhaps adding 100 more cities to our entire portfolio,” said Gajendra Jangid, Co-founder and Chief Marketing Officer (CMO), Cars24 said.

Jangid further said that it would focus on more on tier-III and IV towns in the year ahead.

“There is a long trail of tier-III and IV towns, where we are not present yet. We are going to go aggressively in tier-III, tier-IV towns,” he added.

He observed that on a monthly basis the company is transacting about 15,000 cars, including buying and selling of used vehicles.

Talking of the demand, he noted that although the supply mostly comes from the tier-I cities, demand is high in tier-II and tier-III towns.

“Approximately 30-40 per cent of the cars which we buy in metros end up going to tier-II and tier-III cities,” he said.

Cars24 is a tech-enabled platform that offers customers to buy and sell used cars. The company, in-turn, sells these cars online through its proprietary auction platform to businesses across India, dealing in pre-owned cars. Investors of the company include Sequoia India, Exor Seeds, Apoletto, Kingsway Capital and US-based investment firm KCK.

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Car crashes deadlier than coronavirus: Elon Musk to SpaceX staff

It’s not that he did not explain why he thought so. In replies to a Twitter user’s question, he said that both the virality of COVID-19 and fatality rate are overstated.

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Tesla CEO Elon Musk

San Francisco, March 14 : Amid the rapid spread of the novel coronavirus which has killed nearly 5,000 people in the world, SpaceX and Tesla CEO Elon Musk appears to be dancing to his own tune, underplaying the danger from the threat time and again.

In a memo to SpaceX employees on Friday, Musk said that they were far less likely to die from COVID-19 than car crashes, BuzzFeed News reported.

Musk added in the email that he does not think COVID-19 is “within the top 100 health risks in the United States”.

In the US, over 1,600 confirmed cases of the novel coronavirus have been reported, while more than 40 people have died due to the disease caused by the virus.

According to a report in The New York Times that cited an estimate by health officials, if the spread of the novel coronavirus is not contained soon, between 160 million and 214 million Americans may become infected in the worst case scenario.

This is not the first time Musk has underplayed the danger from COVID-19.

In a tweet last week he said that “the coronavirus panic is dumb.”

It’s not that he did not explain why he thought so. In replies to a Twitter user’s question, he said that both the virality of COVID-19 and fatality rate are overstated.

“Virality of C19 is overstated due to conflating diagnosis date with contraction date & over-extrapolating exponential growth, which is never what happens in reality. Keep extrapolating & virus will exceed mass of known universe,” the tech billionaire reasoned.

“Fatality rate also greatly overstated. Because there are so few test kits, those who die with respiratory symptoms are tested for C19, but those with minor symptoms are usually not. Prevalence of coronaviruses & other colds in general population is very high,” Musk said.

However, in view of the global spread of the coronavirus, the World Health Organization has already declared it a pandemic.

Globally, coronavirus has infected over 132,500 people in 123 countries.

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Maruti Suzuki launches all new Vitara Brezza

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Maruti Suzuki Vitara Brezza

New Delhi, Feb 24 : Automobile major Maruti Suzuki India on Monday launched the all new compact SUV Vitara Brezza, which was unveiled at the recently held Auto Expo 2020.

The new vehicle has been priced in the range of Rs 7.34 lakh to Rs 11.40 lakh, the automobile major said on Monday.

According to the company, the new compact SUV offers enhanced sportiness, bolder looks, stronger stance, premium interiors and a host of new features.

The vehicle is equipped with the powerful 1.5 litre K-series BS6 petrol engine.

“The compact SUV will be offered with 5-speed manual and advanced automatic transmission with Smart Hybrid,” the company said in a statement.

In less than 4 years of its launch, Vitara Brezza has sold over 500,000 units.

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Bill Gates Is Driving a Porsche Taycan. Here’s Why He Didn’t Get a Tesla

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Bill GatesPorche

San Francisco, Feb 18 : Tesla CEO Elon Musk on Tuesday took a jibe at Microsoft co-founder Bill Gates after the world’s second richest man declared he has bought his first EV — Porsche Taycan.

Gates told a noted YouTube tech reviewer Marques Brownlee in an interview that he purchased his first-ever EV Porsche Taycan, calling the vehicle “very, very cool”.

“My conversations with Gates have been underwhelming tbh (to be honest),” Musk tweeted to a user.

The initial EV Porsche Taycan Turbo S model starts at $185,000 while the entry-level Tesla Model 3 starts from $35,000.

In the interview, Brownlee asked Gates about his thoughts on Tesla’s dominance in the electric vehicle market.

Gates acknowledged that Tesla is the cream of the crop when it comes to electric cars, adding that lots of manufacturers are moving to produce electric vehicles because Tesla’s appeal has been increased over the past few years.

“Tesla, if you had to name one company, that’s helped drive that, it’s them,” said Gates.

You can watch the complete interview here:

Musk has been tweeting his thoughts about tech honchos.

He recently questioned Facebook CEO Mark Zuckerberg’s understanding of Artificial Intelligence (AI) and called Amazon Founder and CEO Jeff Bezos a “copycat”.

Gates recently commissioned a $644 million hydrogen-powered superyacht. The plans of buying the superyacht were unveiled at the Monaco Yacht Show in December last year.

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