Morgan Stanley Sales & Trading, US, believes the stock is better value for money than others and has a upside as high as 73 per cent. A slowdown in the economy has hit demand and led to a fall in overall consumption in an auto market which till recently was one of the fastest growing in the world.
Maruti's compact segment comprising New WagonR, Swift, Celerio, Ignis, Baleno, Dzire, and utility vehicles, including Gypsy, Ertiga, XL6, S-Cross and Vitara Brezza saw robust sales, while the mini segment comprising Alto, S-Presso and Old WagonR saw negative growth.
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days, reports Shally Seth Mohile.
Maruti's exports in May were down 2.4% at 9,089 units
The business will also see a change of guard. Shailesh Chandra, president of EV and corporate strategy, will replace Mayank Pareek as president of PV business, including EV, with effect from April 1. Pareek will be superannuating from the company after a six-year stint at the end of February 2021. Chandra and Pareek will work on transition over the next few weeks.
Cumulative sale at India's top six passenger vehicle (PV) makers dropped 0.7 per cent to 267,000 units, from 269,000 a year before.
Jet fuel (ATF) price was on Monday hiked by a steep 56.5 per cent and that of non-subsidised cooking gas LPG by Rs 11.5 per cylinder on the back of firming up of international oil rates, but petrol and diesel prices continued to remain on freeze for a record 78th day. Aviation turbine fuel (ATF) price was hiked by Rs 12,126.75 per kilolitre (kl), or 56.5 per cent, to Rs 33,575.37 per kl in the national capital, according to a price notification by State-owned oil marketing companies.
With little clarity on the demand outlook, investors should wait out the next couple of quarters rather than rush in to catch a falling knife, says Ram Prasad Sahu.
Other players who have declared no production days in the recent past, and during this month, include Mahindra & Mahindra, Maruti Suzuki, Hero MotoCorp, Bosch, Jamna Auto, Wabco and Sundaram-Clayton.
Named ConceptFutureS, it is a uniquely styled compact car with distinct SUV like characters and will define the next generation of design for compact vehicles in India, the company said.
Net sales growth for the quarter ended December (Q3FY20) was 4.5 per cent on a year-on-year (YoY) basis for companies that have declared their results so far, compared to an 8.4 per cent rise in the first half of the financial year. This indicates that there could be a further rise in days' sales of inventory.
Sitharaman said the government understands that the contours and tone of issues for each sector varied from one to the other.
A bench headed by Justice Arun Mishra said Bharat Stage-IV vehicles sold after March 31 this year and those whose details have not been uploaded on the e-Vahan portal of the government will not be registered.
Mahindra is desperate for a best-seller in the compact SUV space, on which it missed the bus
The Auto Component Manufacturers Association of India on Wednesday sought reduction in GST rate to a uniform level of 18 per cent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to prolonged slowdown in vehicle sales.
Passenger vehicle sales continue to drop in June; Maruti, Hyundai, Tata Motors, Toyota witness decline. Mahindra & Mahindra, however, reported a 4 per cent growth.
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.
Experts say while the increasing demand for a ban on Chinese goods might make for good optics, the reality is that India is still heavily dependent on that country in a wide range of industries like electronics, mobile devices, auto, pharma, telecom equipment, and fertilisers.
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
Vehicle sales across categories registered a decline of 8.62 per cent to 20,86,358 units from 22,83,262 units in May 2018.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
Customers won't shift to electric cars until there is countrywide infrastructure for charging stations, which should be as spread out as petrol pumps now. Two, the price of the lithium ion battery, which constitutes 30 to 40 per cent of the cost of an electric car, has to fall substantially, so that the vehicle is as affordable as a gasoline one.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
Reliance on a single model begins at about 40% and goes up to 80 % in case of some companies
How the XUV300's suspension, plastics and interiors hold out in Indian conditions after a couple of years will be the litmus test for its success in the long term, but for now, this SUV delivers, says Pavan Lall.
A study by second-hand car dealer CARS 24 showed 42 per cent of the consumer feel the need for a car to travel safely now. Those who used cabs to commute before the pandemic want to buy a car for the family and a two-wheeler for shorter runs.
An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
'The telecom companies are our lifeline now, despite having nearly collapsed under debt because of ill-advised policies.' 'Perhaps our obvious dependence on telecom services will spark well-conceived policies for this sector,' says Shyam Ponappa.
Indian economy was growing faster than the global average and all other major economies: FM
Ministries such as road transport and heavy industries are learnt to have objected to NITI Aayog's attempts to become an implementing body for the EV programme.
After banning registration of diesel cars and SUVS with engines above 2,000 cc in December last year till March 31, the Supreme Court has extended the ban until the next hearing which is expected in July
Toyota, M&M and Honda are making tough adjustments to their growth plans as uncertainty over diesel vehicles and fuel emission norms rises
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
Consumers should be given freedom to make a logical choice, and manufacturers enough leeway so that they can produce what the consumer wants.
Dealers of Tata Motors in most parts of the country have stopped placing orders for this small car in the last three-four months and the showrooms are displaying contemporary models such as Tiago, Tigor, Hexa and Nexon.
New Mercedes-Benz S-Class gets a power lift and cosmetic changes, says Joshua David Luther.
Here's what the national capital needs to do to ensure the residents stop breathing toxic fumes.
In first 9 months of FY18, scooter sales grew by 18.5%, the number may jump further as more women join workforce
New Creta, petrol Vitarra Brezza.. A quick look at what went down at Auto Expo Day 2.
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