Auto maker Maruti Suzuki plans to position its upcoming car 'Ritz' at the upper end of the compact car segment that will be powered with a 1197 cc engine.
Maruti Udyog on Wednesday reported a 7.1 per cent increase in domestic sales in January at 48,526 units.
MSI in January increased prices by up to Rs 31,600.
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The tie-up would focus on financing of entry level cars from Maruti portfolio, which include the M800, Omni and Alto models, the company said. "Maruti Suzuki is keen to expand its presence in rural and semi urban markets. We have the right products and an excellent network across the country to support it. However, there is still lot to do in the direction of finance availability especially beyond metro towns," said MSI Chief General Manager (Sales) R S Kalsi.
The country's biggest car maker Maruti Suzuki India on Monday reported 27.4 per cent decline in car sales during November at 47,103 units compared to 64,885 units in the same month last year.
Maruti Suzuki India growing by a paltry two per cent in January, recorded the lowest growth in this financial year, which could be due to the launch of Tata's Nano.
While Renault reported an over 12 per cent decline in sales and lost market share, Market leader Maruti Suzuki grew over 19 per cent.
In the seven months between April and October this year, the Chevy Spark has managed to sell less than 12,000 units, or an average of 1,700 units a month, while its peers Alto and WagonR (Maruti Suzuki) , Indica (Tata Motors) and Santro (Hyundai) have had average monthly sales of 10,000-18,000 units.
Car market leader Maruti Suzuki India Ltd (MSIL) on Saturday reported a 24 per cent jump in its car sales in the domestic market during November at 65,216 units against 52,574 units in the corresponding month last year.
Maurti and Hyundai recorded jump in sales in May.
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In a bid to increase its sales from rural India, the country's largest car maker, Maruti Udyog Ltd, is offering over 2.1 million functionaries in panchayats (local self-governing bodies in villages) its cars at special discounts.
The company said its domestic sales increased by 0.7 per cent at 56,411 units as against 56,000 units in June last year. It said the A2 segment, comprising Alto, Zen Estillo, Wagon R and Swift registered a marginal growth of 0.3 per cent at 37,767 units, against 37,646 units in the same month last year.
The company said its domestic sales increased by 14.6 per cent during the month at 64,143 units, against 55,952 units in May last year. Hyundai Motor India Ltd reported on Monday a 47.27 per cent jump in domestic passenger car sales at 24,510 units during May, against 16,643 units in the corresponding month of 2007.
Consumers buying vehicles in exchange for old ones in the used car market (1.1 million cars) prefer to stick to small cars in the A compact segment rather than moving up to bigger mid-sized cars.
Leading car maker Maruti Suzuki India Ltd on Thursday reported a 22.37 per cent increase in domestic sales in April at 59,539 units as compared to 48,652 units in the same month last year.
Maruti has offered discounts ranging from Rs 5,000 to 35,000 across various models. The discount is on Maruti 800, Omni, Alto, Esteem, Versa and on the petrol models of WagonR, Swift.
An alternative to a small car, it is expected to be priced ex-showroom between Rs 260,000 and Rs 300,000, and will offer better mileage (more than 30 km a litre) and less pollution than a car, and will be a convenient alternative to a two-wheeler but at the same operating costs.
Maruti Udyog today posted 17 per cent increase in domestic car sales for the month of April, selling 48,652 vehicles compared to 41,574 vehicles sold in the same period last year.
Call it the "Nano effect" but less than a month after Tata Motors displayed its competitively-priced small car at the Delhi auto show, prices in the 1.3-million used-car market crashed 15 to 30 per cent, if not more.
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Insurance companies have raised the premium for cars and other vehicles by as much as Rs 2,000 beginning January 1.
The auto industry is on a roll with the sales of passenger cars showing robust growth in November this year as against the sales of last November.
Car maker Maruti Udyog Ltd on Tuesday reported a 11.10 per cent increase in domestic sales at 55,894 vehicles during October 2006 as compared to 50,308 vehicles in the year-ago period.
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Auto major General Motors India is harbouring definite plans to launch a mini car that would be competitively priced and would aim to get a market share of 10 per cent, a top official of the company said on Saturday.
Maruti Udyog's popular 'Zen' model could well be nearing the end of the road, with the company likely to stop production of the compact car or reduce it from this month end.
Dealers have stocked up vehicles in the run-up to a price hike, which is expected to be announced by leading players some time this month.
Currently, Maruti Suzuki has 14 car brands, but it has decided to expand into some new segments.
India's largest car maker Maruti Suzuki on Saturday raised car prices of most of its models
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