The country's largest carmaker Maruti Suzuki India on Monday reported a 25.34 per cent fall in total sales for July to 75,300 units, mainly due to sluggish market condition and non-production of hatchback Swift as the company is preparing to launch a new version of the car soon.
The company saw production hit by 10,200 units till yesterday, which translates into a loss of about Rs 510 crore (Rs 5.1 billion). In the morning, shares of Maruti Suzuki India (MSI) were trading 0.43 per cent down at Rs 1,217.50 apiece on the Bombay Stock Exchange.
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).
Maruti Suzuki is offering cash discounts ranging from Rs 5,000 on its hatchback Celerio to Rs 35,000 on entry level Alto800.
The S-Cross will be available only in diesel engine options of 1.6 litre and 1.3 litre.
Osamu Suzuki, chairman, Suzuki Motor Corporation, is likely to meet Gujarat Chief Minister Narendra Modi to finalise plans to set up a manufacturing plant for Maruti Suzuki India.
"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 recorded 20 per cent jump in sales during November.
Maruti Suzuki on Thursday reported 6.54 per cent increase in sales at 1,18,949 units for February. The company had sold 1,11,645 units in the same month last year.
Auto major Maruti Suzuki tops the chart for buyers' satisfaction with newly launched cars, while Tata Motors found its berth at the bottom, says a study by JD Power.
With the domestic auto market going on a downhill slide, Tata Motors and Maruti Suzuki have cut production as the automobile industry braces up for a single digit sales growth this fiscal.
While sales of compact cars, including models such as Swift, Celerio, Ignis, Baleno and Dzire declined, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, increased 26.3 per cent to 19,177 units as compared to 15,178 in the year-ago month.
The country's largest carmaker Maruti Suzuki India is understood to be planning to ramp up its output by about 10 per cent to produce over 1,10,000 units every month from October.
Maruti Suzuki India has hiked prices of its diesel cars by up to Rs 10,000 with effect from Monday on account of higher input costs and appreciation of Japanese yen.
The country's largest car maker, Maruti Suzuki India, on Tuesday said it, along with vendors, could invest up to Rs 18,000 crore (Rs 180 billion) in Gujarat as it looks to produce about 20 lakh (2 million) units in the long run in the state.
The country's largest car maker Maruti Suzuki India is understood to be scouting for location to set up a manufacturing unit in Gujarat, which could be its first plant outside Haryana where it has been based since its inception in 1983.
In March it reported an increase of 38.85 per cent in sales in the domestic market to 110,424 units from 79,530 units.
The company had sold 50 units of SX4 sedan in August 2014.
With the domestic automart showing signs of correction, the country's largest car maker Maruti Suzuki India (MSI) is looking at strengthening its back-end operations by asking vendors to increase efficiency, besides building their own research and development capabilities.
A tablet PC, though smaller in size, has PC-like functionalities.
Sales for the same month previous year were at 84,804 units, Maruti Suzuki India said.
The country's largest carmaker Maruti Suzuki India on Wednesday said its flagship export model, A-Star, has crossed one lakh-mark of overseas shipments in less than a year of selling the car in the global markets.
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.
A series of strikes at the country's largest carmaker Maruti Suzuki India's Manesar plant since June this year has resulted in excise revenue losses to the tune of nearly Rs 350 crore (Rs 3.50 billion) for the government, while the company has already suffered a hit of up to Rs 1,540 crore (Rs 15.40 billion).
Along with the M800, MSI will also be phasing out its second oldest model, the utility van Omni. In the initial phase, the two models will be done away with in 11 cities from next year, where the Bharat Stage-IV emission norms (which is equivalent to Euro-IV norms) will become applicable. The company would not upgrade the engines of these two models to meet better emission standards, he said while also ruling out their replacements.
As rivals gain ground, the market share of the country's largest car-maker, Maruti Suzuki India, continues to hover below the 50 per cent mark, despite the firm posting its best-ever monthly domestic sales in July.
Ford India and Renault too reported good sales growth in April
In October, the company had launched Ciaz in both petrol and diesel options.
HMIL sells a range of vehicles starting from entry-level small car Eon to premium SUV Santa Fe, which are priced between Rs 325,000 and Rs 31.75 lakh
The country's largest car maker, Maruti Suzuki India Ltd, on Wednesday reported a 22.63 per cent jump in its sales at 75,109 units in June against 61,247 units in the same month last year.
The company had launched the DZire in March 2008 in both petrol and diesel variants priced between Rs 4,49,000 and Rs 6,70,000. This follows the company's recent milestones, including achieving 80 lakh units of cumulative production for all its brands, followed by roll-out of one lakh units of its KB-series engines and launch of the 1,00,000th units of its flagship export model 'A-Star'.
MRTPC disposed of the one-year-old legal battle between the two auto giants, in which the Korean car maker accused MSI (formerly Maruti Udyog Ltd) of indulging in unfair trade practice by issuing "misleading" advertisements.
The NSE Nifty gained 77.85 points, or 0.71 per cent, to finish at 11,008.30. Intra-day, it shuttled between 10,821.55 and 11,035.65.
Although the company's net profit in the corresponding quarter the previous fiscal stood at Rs 448.6 crore, MSI said the figures were not comparable due to the adoption of a new depreciation policy, which has shortened cycles for its equipment and tooling assets. Total income, net of excise stood at Rs 5069.9 crore (Rs 50.69 billion) during the quarter, it said.
MSI in January increased prices by up to Rs 31,600.
In the domestic market, the car has been well accepted and currently the company has over 80,000 bookings for the model.
Maruti sold 191 units of SX4 sedan in January 2014.
Passenger vehicle sales continue to drop in June; Maruti, Hyundai, Tata Motors, Toyota witness decline. Mahindra & Mahindra, however, reported a 4 per cent growth.
Maurti and Hyundai recorded jump in sales in May.
The industry needs stimuli to help revive consumer demand and conversions.
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