Tata Motors is hoping to beat its target year of 2030 and have 30 per cent of its portfolio comprising electric vehicles (EVs), according to Chairman N Chandrasekaran, who was speaking at the company's last annual general meeting (AGM) ahead if its demerger.
The country's biggest carmaker, Maruti Suzuki India, has raised concerns about the continuing slide in small car sales.
Set to be unveiled at the Auto Expo in New Delhi, it is likely to be priced below Rs 400,000, and will come with air-conditioning and the option to choose from six colours.
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.
In the domestic market, the car has been well accepted and currently the company has over 80,000 bookings for the model.
Selected applicants will receive a monthly stipend of Rs 4,500 from the government and an additional Rs 500 from participating companies as a part of the Prime Minister Internship Scheme (PMIS) 2025.
Car purchases in India are largely limited to the top 12 per cent of households with an annual income exceeding Rs 12 lakh, while even small cars have become unaffordable for the remaining 88 per cent, said R C Bhargava, chairman of Maruti Suzuki India Limited (MSIL), on Friday. "How can you get high car sales growth if 88 per cent of the country are below the levels of income where they cannot afford these cars costing Rs 10 lakhs and above?
Maruti's strategy for the SUV segment is to arrest the decline in customers for entry level hatchbacks.
Maruti Suzuki India on Tuesday said it has commenced export of its sports utility vehicle Fronx to Japan. The first consignment of over 1,600 vehicles left for Japan from Gujarat's Pipavav port, the country's largest carmaker said in a statement. Fronx will be the first SUV from Maruti Suzuki stable to be launched in Japan, it added.
MSI's exports increased by 54.34 per cent to 14,386 units in January, from 9,321 units in the year-ago period.
In May, MSI recorded domestic sales at 89,478 units, compared to 93,519 units in the year-ago period, registering a fall of 4.32 per cent.
The company's earlier highest for total and domestic sales stood at 1,21,952 units and 1,10,424 units respectively in March 2011.
The edge that Maruti Suzuki enjoys over Hyundai and other rivals stem primarily from its gigantic scale, reports Ajay Modi.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
Maruti is not an online outlier, of course; other heavyweights have rolled out similar services. But as an analyst pointed out, Maruti's all-India roll-out has significant impact given that it accounts for over half of all cars sold, reports, reports Pavan Lall.
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
Singh's humility and grounded nature were highlighted in a heartfelt social media memoir by Uttar Pradesh Minister of State for Social Welfare (Independent Charge) Asim Arun.
The company also recorded its highest-ever annual sales in 2008-09 at 792,167 units as against 764,842 units in the previous fiscal, a rise of 3.57 per cent. The previous highest annual sales were in 2007-08. '2008-09 marked Maruti Suzuki's silver jubilee year in India. Over these 25 years, the company sold over 70 lakh cars in the domestic market. Additionally, over 5 lakh cars have been exported the world over,' Maruti Suzuki India said in a statement.
Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
High price, combined with the decision to go only for diesel and position it as a crossover, resulted in its limited success
With the government not continuing with lower excise duty beyond December 31, major car makers, including Maruti Suzuki, Hyundai, GM India and Honda have raised vehicle prices by up to Rs 127,000.
Priced at Rs 754,689, this is the sixth model from the company's portfolio after Alto, WagonR, Swift, Baleno and Dzire to be BS-VI compliant.
Osamu Suzuki, the man who took a risk and bet on India when no one else believed in having a viable automobile company in the country, has died at the age of 94, according to information shared by Japan's Suzuki Motor Corporation on Friday.
"Export will not be better in this fiscal. It will remain more or less the same as last year or may be even worse. Situation in many global markets has not improved yet," Maruti Suzuki India (MSI) Chairman R C Bhargava said on the sidelines of Hero Mindmine Summit.
Maruti Suzuki is planning a medium term invement of Rs 6,000 crore (Rs 60 billion), part of which will be utilised to build five vehicle stock yards in the country within one to two years, a senior executive said.
Car market leader Maruti Suzuki India's July sales remained almost flat at 58,543 units as against 57,909 units in the same month last year.
Maruti Suzuki, India's biggest carmaker, reported a 36 per cent rise in third-quarter net profit, matching estimates, as favourable foreign exchange movement and cost reduction efforts offset falling sales.
MSI is also looking to produce one million vehicles by the end of this fiscal.
Ahead of this year's Budget, leading car manufacturer Maruti Suzuki on Monday asked the government not to roll back the entire stimulus package at once as it may hamper economic growth.
Foreign share holding limit in Maruti Suzuki India has reached trigger limit and any further investment by FIIs will be allowed only after RBI's approval.
MSIL, which currently has a subscription service that allows customers to lease its petrol-run and strong hybrid vehicles on a flexible, long-term basis without ownership commitments, will introduce a leasing service as well.
The scrip jumped as investors tracked weakness in the Japanese yen which would boost margins of Suzuki's Indian subsidiary by reducing the costs of imports.
The car will be priced up to Rs 805,000.
The country's largest carmaker, Maruti Suzuki, on Tuesday said it expects sales to grow around 10 per cent in 2010.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
MSI chairman R C Bhargava said auto sector would like to see GST benefits linked to greener/cleaner cars. The government gave tax cut on EVs but hybrid should be given duty cut. There should be tax cut on CNG vehicles.
Maruti's exports in May were down 2.4% at 9,089 units
From the 30 Sensex companies, Zomato, Tata Motors, IndusInd Bank, Asian Paints, Bajaj Finance, Maruti Suzuki India, Adani Ports, Hindustan Unilever, Reliance Industries, Bajaj Finserv, UltraTech Cement and Infosys were among the laggards. In contrast, State Bank of India, ICICI Bank, Tata Steel, NTPC, Tata Consultancy Services, PowerGrid, Kotak Mahindra Bank and Sun Pharmaceuticals were the gainers.
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.
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