The numbers are in sharp contrast to the demand the company's premium hatchback Maruti Suzuki Swift had seen.
The model's engine being upgraded to comply with BS IV norms. Engineers at Maruti Suzuki India can upgrade the engine that powers the car to comply with the Bharat Stage IV emission norms set to kick in by April next year.
The country's largest car-maker Maruti Suzuki India on Monday reported a 63.6 per cent fall in net profit for the quarter ended December 31, 2011, to Rs 205.6 crore (Rs 2.05 billion).
Finance Minister Pranab Mukherjee on Friday announced raising of excise duty to 12 per cent from 10 per cent at present.
In April, MSI had recalled 1,03,311 units of its popular models -- Ertiga, Swift and DZire -- manufactured between November 12, 2013 and February 4, 2014 to replace faulty fuel filler neck.
Maruti Suzuki India on Thursday launched a limited edition version of its popular model WagonR, named Avance, with prices starting at Rs 430,000.
High cost of acquisition due to a variety of reasons, including higher GST than all other major countries, is slowing down car demand in the country and unless the Centre and states take steps to reduce it, the industry is unlikely to experience reasonable growth, according to Maruti Suzuki India Chairman R C Bhargava. Addressing shareholders in the company's Annual Report for 2020-21, he said after the devastating second wave of the coronavirus pandemic hitting the first quarter of FY22, the performance in the next three quarters will largely depend on how effectively people get vaccinated and observe safety protocols.
India's used car market, which has been growing steadily at 10-12 per cent over the last 2-3 years, is expected to reach $40 billion in FY26.
MD Shinzo Nakanishi also rules out entering ultra low-cost car segment.
India's largest car-maker Maruti Suzuki India Ltd on Monday announced a fresh investment of US $1.8 billion to achieve its target of producing one million cars by 2010-11. The bulk of Maruti's fresh investment will be in a research and development facility, for which the company has applied to the Haryana government for 500 acres of land near Manesar.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Friday reported robust sales for February as demand for sports utility vehicles continued to remain strong. Mahindra & Mahindra, Toyota Kirloskar Motor and Honda Cars also witnessed higher vehicle dispatches to dealers last month. February turned out to be the third-best month for sales for the industry ever.
Maruti Suzuki India on Tuesday became the first Indian automobile company to produce one million cars in a year.
Despite the benefits of hybrid technology, a lack of government backing and few launches have kept the segment from gaining ground.
In a statement issued on Friday, India's largest car manufacturer said that 'due to sharp increase in the input costs and also introduction of BS-IV norms in some models, Maruti Suzuki India Ltd has decided to pass on part of this cost impact to customers.'
Sedans and hatchbacks have both lost market share to SUVs, which now account for more than 50% share of the 4 million-odd-unit PV market in the country.
Suzuki will also meet Haryana Chief Minister Bhupinder Singh Hooda, industry sources said. The country's largest car maker Maruti Suzuki India, majority owned by the Japanese firm, is investing up to Rs 1,500 crore (Rs 15 billion) in building test tracks and an R&D centre in Rohtak, Haryana.
The company has tied up with scrap dealers across India to dispose of old cars exchanged for new cars and is welcoming customers to come with old cars of any make for exchange. The company has started giving offers to customers worth up to Rs 40,000 while purchasing a new car through exchange, while inviting bids from scrap dealers at the same time for the old cars.
Maruti Suzuki India has hiked prices of its vehicles across all models, except the entry level sedan DZire, by up to 3.4 per cent.
The country's biggest carmaker, Maruti Suzuki India, has raised concerns about the continuing slide in small car sales.
Maruti Suzuki, India's largest car company by sales, is working on an ambitious plan to launch electric cars and compressed natural gas variants for three or four models in the domestic market.
With induction of these people, the company's workforce will expand by about 27 per cent to nearly 11,000 employees.
Maruti Suzuki India Limited (MSIL), which witnessed labour unrest at its Manesar facility, is set to complete the process of regularisation of contract workers at the unit by November-end.
The company has sold over 12 lakh models of this car till date.
Alto, the Maruti brand synonymous with small cars, introduced the new generation K10 on Thursday, aiming to consolidate its position further amid shrinking demand for hatchbacks. With prices starting at Rs 399,000 and going up to Rs 533,500 (for manual transmission), the new model claims fuel efficiency of 24.90 km per litre. The Japanese car maker, which has been selling 100 Altos every hour for the last 22 years, had discontinued the model in February 2020.
From the Sensex pack, Nestle India, HCL Technologies, Tech Mahindra, Bharti Airtel, Titan, Infosys, Asian Paints, NTPC, Bajaj Finserv and Sun Pharmaceuticals were among the laggards. State Bank of India, IndusInd Bank, Zomato, Power Grid, ICICI Bank, Tata Motors, Mahindra & Mahindra, Tata Consultancy Services and Adani Ports were the gainers.
MSI in January increased prices by up to Rs 31,600.
Japanese carmaker Suzuki Motor Corp is recalling the automatic transmission version of its compact car 'Alto' in Europe, which is sold under the brand A-Star in India.
Japanese carmaker Suzuki Motor Corp is recalling the automatic transmission version of its compact car 'Alto' in Europe, which is sold under the brand A-Star in India.
Stingray, which is powered by a 998 cc petrol engine, is available in three variants, with price ranging between Rs 4,10,000 to Rs 4,67,000.
The country's largest car maker Maruri Suzuki India on Friday said it has cut down production on most of its models this month due to slowdown in the market.
The Baleno cars covered in the recall include 17,231 export units.
Workers across Suzuki Motor Corporation's three subsidiaries in the country are standing firm on their decision to continue an indefinite sit-in strike at the company's Manesar facility.
If the 'connecting rod bolt' is found defective, the company will replace the component free of cost.
Mahindra & Mahindra plans to manage rare earth magnet supplies through alternative sourcing channels for the next nine months and will pursue 'engineering efforts' to address the raw material shortage situation amid growing product portfolio, according to a senior company executive. The imposition of export restrictions by China on key rare earth magnets has resulted in supply chain bottlenecks, impacting the user industries, including the auto and electronics sectors.
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.
Sources close to Maruti management said the company has agreed to reinstate the 11 workers whose services were terminated for instigating the strike.
The country's largest car maker Maruti Suzuki India (MSI) on Friday said it is recalling 1,81,754 units of petrol trims of various models, including Ciaz, Vitara Brezza and XL6, to replace faulty motor generator unit. This is the company's largest vehicle recall till date. As a responsible corporate, keeping in mind customer safety, the company has announced to proactively undertake a recall of some petrol variants of Ciaz, Ertiga, Vitara Brezza, S-Cross and XL6, MSI said in a regulatory filing.
The company, whose arm Maruti Suzuki is the largest passenger vehicles maker in India, asserted that it does not align with any political or religious inclination in any part of the world.
The country's largest carmaker Maruti Suzuki India will not "walk away" and fight to get back to 50 per cent market share in the domestic passenger vehicle segment, according to company Chairman R C Bhargava. The auto major, which is commemorating 40 years of operations, has seen its market share drop to 43.38 per cent in FY22 from a peak of 51.21 per cent in FY19. In order to get back its dominant leadership, the company plans to drive in models catering to both urban and smaller cities and rural areas.
The government is working on a recall policy.
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