Maruti Suzuki and Hyundai Motor India on Monday reported a dip in passenger vehicle dispatches to dealers in the domestic market last month as the companies tried to adjust vehicle inventory amid slowing demand. Maruti Suzuki India said it "calibrated supplies" to the dealers, aligning with the industry's retail sales projections amid India-Pakistan conflict and a dip in sales of entry-level cars.
Despite the benefits of hybrid technology, a lack of government backing and few launches have kept the segment from gaining ground.
For UK automakers, market access to India will be limited by quantity caps and phased tariff cuts, especially on petrol, diesel and electric vehicles.
Former managing director of Maruti Suzuki India, Jagdish Khattar, passed away on Monday morning following a cardiac arrest, according to people close to him. Khattar (79), a former bureaucrat, was considered as one of the most high profile leaders of the Indian automotive industry, laying the foundation for Maruti's future growth after the government began its disinvestment in 2002 and gradually exited from its joint venture with Suzuki Motor Corporation (SMC). He had joined the then Maruti Udyog Ltd in July 1993 as director (marketing) and went on to become executive director (marketing) in the next six years.
Long standing number two passenger vehicle maker in India, Hyundai Motor India, has slipped to fourth position in the domestic market in terms of retail sales last month behind Maruti Suzuki India, Mahindra & Mahindra and Tata Motors, as per the latest data shared by dealer's body FADA. Hyundai Motor India clocked retail sales of 38,156 units last month, a dip of 20 per cent as compared with 47,540 units in February last year.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 per cent with immediate effect. In a regulatory filing, the company noted that it has taken the decision to hike prices due to an increase in various input costs. The weighted average price rise in ex-showroom prices (New Delhi) across select models is 1.9 per cent, it added. This is MSI's third price hike this year.
Global energy giant Shell has acquired Mumbai-based Raj Petro Specialities to deepen its foothold in the world's third biggest lubricants market in the world, a top company official said. Shell, which has already invested over $5 billion in India across the energy value chain -- from LNG import terminals and fuel stations to renewable energy and technology centres -- has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from Germany's Brenntag Group.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
Maruti Suzuki India (MSIL) said on Thursday its operations are unaffected by the global rare earth magnet shortage, but added that the situation is "uncertain and evolving". The firm said it is exploring multiple solutions to maintain continuity in operations and will notify stakeholders in case of material impact.
The automobile sector has started seeing volume growth, the crucial economy segment included. Maruti Suzuki India (MSIL) could be a big beneficiary as the country's largest passenger vehicle (PV) maker has seen several favourable developments including volume recovery. Demand for its new sports utility vehicles (SUVs) appears to be good, and the company has 4 lakh outstanding orders by April 2023, (up from 3.6 lakhs in January 2023). Siam (Society of Indian Automobile Manufacturers) estimates that passenger vehicle demand would grow by 5-7 per cent in the 2023-24 financial year (FY24) and MSIL is likely to beat the market growth.
Maruti Suzuki growing in double-digits; Suzuki's Japan Q1 top line rose only 1%.
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a consolidated net profit of Rs 475 crore for the first quarter ended June 30. The auto major had posted a consolidated net loss of Rs 268 crore in the April-June quarter of 2020-21. It noted that during the first quarter its sales and production were adversely impacted due to the second wave of the COVID-19 pandemic.
Siam argues that a 2040 ban could destabilise ongoing and future investments and threaten millions of jobs in the automotive value chain.
Concerned over sales growth coming mainly from two of its models - Dzire and Swift - country's largest carmaker Maruti Suzuki India said unless its other products contribute equally the company could face problems in the long-term.
Speaking after the meeting, Maruti Suzuki chairman R C Bhargava said the company will export 'Baleno' at the moment
The country's largest carmaker Maruti Suzuki India (MSI) witnessed a 3 per cent drop in production last month. In a regulatory filing, the auto major reported total production of 145,560 units in November compared to 150,221 units in November 2020. "The shortage of electronic components had a minor impact on the production of vehicles during the month," it noted.
The slowdown in growth is an industry-wide trend and companies are adjusting production to bring down the inventory levels at plants as well as dealerships.
MSI sells a range of models from entry-level hatchback Alto to S-CROSS, priced between Rs 2.99 lakh and Rs 12.39 (ex-showroom prices Delhi) lakh, respectively.
Passenger vehicle retail sales witnessed 3 per cent on-year decline in May with customers delaying purchases in several states due to India-Pakistan conflict and further softening of demand for entry-level models, dealers' body FADA said on Friday. The passenger vehicle registrations last month stood at 302,214 units, as compared to 311,908 units in May 2024.
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.
The automobile industry has sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars. As per the industry sources, various domestic suppliers have already sought approval from the Chinese government through their local vendors in China.
In the domestic market, the car has been well accepted and currently the company has over 80,000 bookings for the model.
Analysts believe Tesla will first focus on building the Model Y brand before expanding -- both in terms of volume and models.
Maruti's strategy for the SUV segment is to arrest the decline in customers for entry level hatchbacks.
MSI's exports increased by 54.34 per cent to 14,386 units in January, from 9,321 units in the year-ago period.
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.
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.
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.
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.
The edge that Maruti Suzuki enjoys over Hyundai and other rivals stem primarily from its gigantic scale, reports Ajay Modi.
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.
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 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.
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.
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.
"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.
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