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.
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.
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.
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
According to experts, even if an additional 5 per cent of people opt to buy new vehicles, it may bring a huge boost to the sector.
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.
Tata Motors is the leader in the electric car market with about 62 per cent share.
Country's largest car-maker Maruti Suzuki India (MSI) on Saturday reported 10.3 per cent decline in total sales in January at 1,02,416 units as against 1,14,205 units in the same month last year.
Maruti Suzuki India (MSI) on Tuesday said it will not resume full-scale production at its Manesar plant till workers sign a 'good conduct bond', as demanded by the company to ensure there is no repeat of quality issues that have surfaced at the plant.
The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, got subscribed 2.37 times on the third day of the bidding on Thursday, helped by institutional buyers. This is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore. The Rs 27,870 crore initial share sale got bids for 23,63,26,937 shares against 9,97,69,810 shares on offer, translating into 2.37 times subscription, as per NSE data.
India's Foreign Secretary Vikram Misri has underscored the importance of not equating the victims and perpetrators of terror attacks, highlighting the need for global unity in combating terrorism. Speaking at Raisina Tokyo 2025, Misri expressed appreciation for Japan's support following the recent terror attack in Pahalgam, India. He also cautioned against the trend of some Western countries hyphenating India and Pakistan in the context of their recent military confrontation. Misri further outlined India's economic aspirations and its commitment to becoming a factor of stability in a turbulent world.
Lenders have become worried as some dealers were not using the money provided to them for car financing.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
Indian passenger vehicles market registered record wholesales of 43 lakh units in 2024, with companies like market leader Maruti Suzuki, Hyundai, Tata Motors, Toyota Kirloskar Motor, and Kia posting their best-ever annual domestic sales. The continued growth of SUVs, along with rural markets playing a key role in driving up car sales, helped the industry better the previous best of nearly 41.1 lakh units posted in 2023.
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
Hyundai, which is also toeing Maruti's lines, said special schemes are offered to engage the cab aggregators, including annual-maintenance-contract packages and extended warranty.
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.
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.
77 per cent of all transactions in the January-March 2025 period took place digitally, indicating continued preference for online car purchases.
Passenger vehicle dispatches from companies to dealerships witnessed an increase of 1.6 pc year-on-year in January at 399,386 units driven by robust demand for utility vehicles, industry body SIAM said on Thursday. It was the highest-ever passenger vehicle dispatch for the month of January.
'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 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.
Apple Inc's iPhones assembled in India achieved market revenues of Rs 162,000 crore. Tata Steel's revenue for the same period was Rs 162,324 crore.
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.
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.
Sluggish urban demand, a high base effect, and weak sales of hatchbacks and sedans weigh down passenger vehicle sales in FY25.
Dealers said the discounts this March are higher than the same month in the previous year.
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.
Net sales, however, rose marginally to Rs 21,551.9 crore for the quarter under review
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.
Data collated for 47 BSE50 companies (as of H1FY25) shows employees and workers filed 8,468 such complaints in FY24.
The company said its cost reduction and localisation initiatives, growth in volumes and favourable foreign exchange helped improve the bottomline during the quarter.
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.
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.
Car sales in the quarter were up 3.9 per cent at 3,60,402 units, the company said, adding that the exports were at 27,009 units.
Net sales of the company for the fiscal stood at Rs 48,605.53 crore.
Net sales during the reported quarter rose to Rs 20,594.3 crore, up 14.4 per cent against the year-ago period.
Will you ditch Honda City or Hyundai Verna for Maruti's latest offering?
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