The Japanese giant is already investing Rs 6,000 to Rs 7,000 crore in its research and development (R&D) centre in India. Maruti Suzuki India (MSIL) will roll out a car completely made in India in the next three to four years, which will encompass all the major requirements, including design and engineering architecture, engine development, and the manufacturing process.
The long awaited product is likely to be launched early next year.
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
'It will take some more time because the affordability of these cars have changed drastically.'
Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023.
'Two would be premium products and three would be mainstream products.'
The Jailer song Kaavaalaa, featuring Rajinikanth and Tamannaah Bhatia, has become very popular.
How much do you know about the Vibrant Gujarat Global Summit 2024?
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
Car sales are experiencing a challenging phase with around Rs 60,000 crore worth of inventory lying unsold with dealers.
The company's net sales rose about 12 per cent to Rs 1,465 crore (Rs 14.65 billion).
The Maruti Udyog board has approved the purchase of Suzuki Motor Corporation's shares in their joint venture Maruti Suzuki Automobile India Ltd for Rs 12 crore (Rs 120 million) and merge the arm with itself, the Lok Sabha was told on Thursday.
In what would be a generational change in its engine technology, India's largest car manufacturer Maruti Suzuki has decided to introduce the new K-series petrol engine in all its cars in India in the next three to five years, according to the company's annual report for 2007-08.
Car maker Maruti is hoping to improve margins.
The country's largest carmaker, Maruti Suzuki, on Thursday reported 9.95 per cent decline in sales during December last year at 56,293 units against 62,515 units in the same month of 2007.
The Fazer V2 is designed to rival the Honda CB Trigger, TVS Apache 160 and the recently launched Suzuki Gixxer, says Faisal Ali Khan.
A reading of the reports suggests that there is no standard practice for reporting political contributions and it is left to the company's discretion to report them as they find fit.
Hyundai, which is also toeing Maruti's lines, said special schemes are offered to engage the cab aggregators, including annual-maintenance-contract packages and extended warranty.
"Currently work is going on for developing a diesel engine for mid-sized sedans. Our engineers are developing it internally and we are hopeful of getting it ready by mid (of) next year," said MSI Managing Director and CEO Shinzo Nakanishi.
Nissan, Japan's fourth-largest car manufacturer, sells MSIL's A-Star as Pixo, an entry-level car, in Europe.
In its first official engagement with the Indian government, Elon Musk-led Tesla and other global automotive (auto) manufacturers sought clarification on the new electric vehicle (EV) policy, specifically regarding investment guidelines and the timeline for the domestic value addition (DVA) requirement. Officials who attended the meeting told Business Standard that the original equipment manufacturers (OEMs) tried to understand whether the complete investment would be made within three or five years and the duration they would have to achieve the 50 per cent DVA. "The consultation meeting was convened to address queries from auto OEMs.
Maruti Suzuki is set to launch a new multi-purpose vehicle (MPV) -- Invicto -- next month. It will be the company's first passenger vehicle with an ex-showroom price tag of Rs 20 lakh or more, said Shashank Srivastava, executive director (sales), on Tuesday. The upcoming MPV will compete with the likes of Toyota Innova Hycross, Kia Carnival, Hyundai Alcazar, MG Hector Plus, Tata Safari, Mahindra & Mahindra XUV700, and Mahindra & Mahindra Scorpio-N - all having three rows of seats. Invicto will be based on the Hycross by Toyota, which will manufacture Maruti's most expensive car at its Bidadi plant in Karnataka.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the ministry of road transport and highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
Maruti is in the final stages of talks with the state government to set up a manufacturing plant in Gujarat, similar to those in Gurgaon and Manesar.
Suzuki Motorcycle India is planning to open 100 dealer outlets across the country by the end of June this year.
Maruti recorded a 13.12% year-on-year surge in average revenue earned per car in 2023 compared to M&M's 7.56%, Hyundai's 6.76% and Tata Motors' 1.88%.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the Ministry of Road Transport and Highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
Net sales, however, rose marginally to Rs 21,551.9 crore for the quarter under review
Hero MotoCorp, India's largest two-wheeler maker, has seen a decline in its market share in rural areas since 2018, losing ground to major competitors such as TVS Motor Company, Bajaj Auto, and Honda Motorcycle & Scooter India (HMSI), according to data from JATO Dynamics reviewed by Business Standard. Hero's share of rural two-wheeler sales in India has dropped from 40.4 per cent in 2018 to 33.3 per cent in 2023. In contrast, Bajaj's share increased from 12.7 per cent in 2018 to 13.9 per cent, HMSI's from 21.8 per cent to 22.2 per cent, and TVS' from 15.5 per cent to 17.8 per cent. Suzuki Motorcycle India has also seen its share rise from 1.7 per cent to 2.5 per cent.
As part of this cost-cutting exercise, the company has initiated measures to step up localisation levels and to pare the number of tier-I suppliers over the next two-three years.
Suzuki India's Baby B-King (or GW250) is a great option for the Indian subsidiary. Production of this motorcycle -- that's designed for emerging markets -- began in China earlier this month. The muscular GW250 is expected to be priced in the range of Rs 1.6 to Rs 1.8 lakh if brought to India.
Suzuki Motor Corporation (SMC) on Friday said it has terminated the partnership pact with Volkswagen AG (VW) after two years of unsuccessful attempts to gain access to technology from the German firm.
In terms of volumes, sales were down by 9.98 per cent to 266,343 units.
Maruti Suzuki says it has sold at least one car in 418,000 villages.
