The country's largest car maker Maruti Suzuki India on Monday said its cumulative exports have crossed one million units with the milestone car headed for Denmark.
'Without his vision and foresight, his willingness to take a risk that no one else was willing to take, his deep and abiding love for India, the Indian automobile industry could not have become the powerhouse that it has become.'
Maruti Suzuki India (MSI) on Wednesday reported over two-fold jump in its consolidated net profit to Rs 1,036 crore for the first quarter ended June 30, mainly due to a low base in the year-ago period. The auto major had posted a net profit of Rs 475 crore in the COVID-hit April-June quarter of the last fiscal. Its net sales rose to Rs 26,512 crore in the June quarter compared to Rs 17,776 crore in the same period of 2021-22.
American electric carmaker Tesla has opened recruitment for various roles in India, including business operations analyst and customer support specialist, in what could be a precursor for the company's entry into the country. As per the job postings on the company's website, the posts are for the 'Mumbai Suburban' area.
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 domestic car sales volume of the company is also growing at 15%
Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 per cent dip in total domestic passenger vehicle wholesales last month to 144,962 units compared to 150,812 units in the year-ago month. The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
Maruti Suzuki India on Monday said the production at its plant in Gurgaon has been impacted due to strike at Suzuki Powertrain India Ltd (SPIL), which supplies engines to MSI.
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
The risk-reward for the Indian markets, Morgan Stanley said, is turning favourable.
The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, received an 18 per cent subscription on the first day of bidding on Tuesday. The Rs 27,870 crore initial share sale received bids for 1,77,89,457 shares against 9,97,69,810 shares on offer, as per NSE data. The IPO received over 9 lakh applications on the first day.
Nissan, Japan's fourth-largest car manufacturer, sells MSIL's A-Star as Pixo, an entry-level car, in Europe.
"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.
The recent currency volatility - rupee's depreciation against international currencies - may have given heartburns to automakers that rely on imports or pay royalty to parent companies abroad. But for Maruti Suzuki India, favourable movement of the yen - the currency that matters the most - against the Indian rupee, has given it reasons to cheer. The yen's sharp fall against the rupee and the rupee's depreciation against the US dollar, which in turn will bump up export realisations, are set to give a margin boost to the maker of Baleno and Brezza, said analysts. The softening of commodity prices and slew of new SUV launches in the coming months will also aid margins, they said.
Major Indian carmakers are preparing for sluggish domestic PV sales growth of just 1-2 per cent in FY26.
From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards. Reliance Industries fell the most by 2.38 per cent to close at Rs 1,171.10 apiece.
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.
Car maker Maruti is hoping to improve margins.
After a successful tie up in traditional ICE and strong hybrid models, Suzuki and Toyota are now set to take their partnership to the next level: the electric vehicle segment. Both the Japanese auto giants recently announced a plan to produce Suzuki eVX-based SUV which will be sold under Toyota brand across the globe. This electric SUV, bearing Toyota's logo, will go for production at Suzuki Motor Group (SMG) facility in Hansalpur, Gujarat beginning the spring of 2025, marking the first EV launch for both companies in India.
The only silver lining in March's performance -- which otherwise dragged down the financial year's momentum -- was a 6 per cent year-on-year (Y-o-Y) growth compared to March of the previous year. This is largely due to incentives, festival-driven gains, and new launches.
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.
Zomato on Monday became the first new-age company to join the prestigious 30-share benchmark Sensex, replacing JSW Steel. This milestone marks a significant achievement not only for Zomato but also for the Indian startup ecosystem, which is increasingly making its presence felt in the $5.2 trillion listed ecosystem.
Data collated for 47 BSE50 companies (as of H1FY25) shows employees and workers filed 8,468 such complaints in FY24.
The average car price in India has increased rapidly in the last 5-6 years due to new emission regulations and demand for more spacious and comfortable cars loaded with advanced technology.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
The company's net sales rose about 12 per cent to Rs 1,465 crore (Rs 14.65 billion).
Maruti Suzuki India on Tuesday said it has increased prices of its entire model range with immediate effect. An estimated weighted average of increase across models is 0.45 per cent, the auto major said in a regulatory filing.
In terms of volumes, sales were down by 9.98 per cent to 266,343 units.
Auto majors Maruti Suzuki India and Hyundai reported muted sales performance in October as the companies curtailed dispatches to dealers in order to cut inventory build up.
India's car market leader Maruti Suzuki India unveiled two concept models - sedan Ciaz and crossover SX4 S-Cross - as it looks to enhance its position in the bigger sedan segment going forward.
The decision to add capacity comes at a time when most auto majors have been resorting to production cuts.
Risks emerging from the US have left automotive investors worried. US President Donald Trump has announced 25 per cent tariffs on automotive imports, while global electric carmaker Tesla has taken its first steps towards entering India. While these developments are sentimentally negative for related stocks, it may be too early to conclude the eventual impact, analysts said.
Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) - more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
The three companies would jointly invest in setting up a manufacturing unit at Manesar in Haryana, expected to be operational by end of calendar year 2008. The facility, when fully operational, would have a capacity to produce five lakh units per annum, MSIL said in a statement.
Maruti Suzuki, the market leader in the passenger car market in India is betting big on the A2 segment which is the biggest contributor to the overall passenger car sales in the country.
The company had set an annual production target of 250,000 for its Hansalpur plant in Gujarat.
While Maruti held the top spot for four decades, the Ambassador was the best-selling car in post-Independence India for three decades.
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
In terms of volumes, sales were up by 19.6 per cent to 2,75,586 units compared 2,30,376 to the year-ago period.
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