The domestic car market leader said there will be no cash outflow from MSI as the merger is proposed to be effected through a share swap agreement.
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 said its cost reduction and localisation initiatives, growth in volumes and favourable foreign exchange helped improve the bottomline during the quarter.
Suzuki, who is in India on a visit, told representatives of Maruti Udyog Kamgar Union, the elected union of Maruti Suzuki India that the management of the Indian arm would not accept any indiscipline in the company.
India's biggest car maker Maruti Suzuki said on Tuesday that its vehicle production in September will tumble by 60 per cent due to chip shortage. The company, which had earlier cut down production at its Gujarat plant, said the chip shortage will hit production in Gurugram and Manesar plants, effectively forcing the automaker to cut production by 60 per cent. Owing to a supply constraint of electronic components due to semiconductor shortage, the company is expecting an adverse impact on vehicle production in September in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Pvt Ltd. (SMG) in Gujarat.
Benchmark equity indices Sensex and Nifty extended their gains for the third straight session on Wednesday, driven by last-hour buying in bank, metal, and FMCG shares.
Net sales, however, rose marginally to Rs 21,551.9 crore for the quarter under review
Speculation about rising competition from global majors has led to shares of major Indian automobile manufacturers such as Mahindra & Mahindra (M&M), Maruti Suzuki India, and Tata Motors taking a hit on the BSE.
'The market is still very bullish. The demand is so strong that for eight models, we have no units in our factories to dispatch to dealers,' said Partho Banerjee, senior executive officer, marketing & sales, Maruti Suzuki India (MSIL).
The Narcotics Control Bureau (NCB) has busted a major international narcotics ring, seizing 349 kg of high-grade cocaine worth Rs 1,745 crore in Mumbai.
India's passenger vehicle (PV) industry is projected to experience moderated growth in FY27, following a strong rebound in H2FY26, primarily due to the high base effect, absorbed pent-up demand, and the lingering impact of geopolitical tensions in West Asia.
The recent currency volatility - rupee's depreciation against international currencies - may have given heartburns to automakers that rely on imports or pay royalty to parent companies abroad. But for Maruti Suzuki India, favourable movement of the yen - the currency that matters the most - against the Indian rupee, has given it reasons to cheer. The yen's sharp fall against the rupee and the rupee's depreciation against the US dollar, which in turn will bump up export realisations, are set to give a margin boost to the maker of Baleno and Brezza, said analysts. The softening of commodity prices and slew of new SUV launches in the coming months will also aid margins, they said.
Net sales of the company for the fiscal stood at Rs 48,605.53 crore.
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
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.
A deep split has emerged within India's auto industry over the proposed CAFE exemption for small cars, with only Maruti Suzuki and Renault backing the move in the final SIAM vote.
Equity benchmark indices Sensex and Nifty advanced for the third straight session on Tuesday driven by firm global cues and optimism over India-US trade agreement, even as investors turned to profit-booking at higher levels.
Domestic passenger vehicle dispatches from companies to dealers rose 13 per cent year-on-year to 449,616 units in January with demand remaining robust owing to GST rate rationalisation and subsequent dip in prices, industry body SIAM said on Friday.
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.
Tata Motors is the leader in the electric car market with about 62 per cent share.
Benchmark stock indices Sensex and Nifty closed on a flat note in a choppy session on Wednesday as gains in PSU banks and auto shares were offset by losses in IT stocks.
Sales of Maruti Suzuki India during January-December 2008 stood at 697,850 units while those of Suzuki Motor Corporation for the same period stood at 679,215 units. The comparable growth for MSIL in India comes on the back of an almost 2 per cent decline for the company in a year-on-year basis during the calendar year. Its sales were higher in calender year 2007 at 710,532 units, according to the data provided by the company.
Indian stock markets recovered from early losses to close higher, driven by value buying in IT and banking shares and a rebound in the rupee.
With Maruti Suzuki refusing to go back on the plan, these investors have approached the Securities and Exchange Board of India, which is examining the possibility of taking action under Section 11 of the Sebi Act.
Lenders have become worried as some dealers were not using the money provided to them for car financing.
"My understanding is that the rules are weighted in favour of big cars, even though smaller cars emit fewer emissions per passenger, use less material, and consume less fuel," Bhargava said in an interview with Business Standard.
Stock markets rebounded on Friday with the benchmark Sensex closing higher by 316 points after heavy buying in banking and metal shares amid optimism over trade deal progresses and India's participation in Pax Silica.
The Invicto hybrid, priced at Rs 24.79 lakh (Rs 2.479 million), is a Multi-Purpose Vehicle, which is based on the Toyota Innova Hycross.
'We are seeing a lot of people with helmets visiting our showrooms.'
Top carmakers led by Maruti Suzuki, Mahindra & Mahindra, Tata Motors Passenger Vehicles and Kia India on Saturday reported record sales in the domestic market riding on festive demand boosted by GST rate cut. Other manufacturers such as Skoda Auto India and Toyota Kirloskar Motor also posted impressive growth in sales in October.
Maruti Suzuki India (MSI) on Wednesday reported over two-fold jump in its consolidated net profit to Rs 1,036 crore for the first quarter ended June 30, mainly due to a low base in the year-ago period. The auto major had posted a net profit of Rs 475 crore in the COVID-hit April-June quarter of the last fiscal. Its net sales rose to Rs 26,512 crore in the June quarter compared to Rs 17,776 crore in the same period of 2021-22.
Will you ditch Honda City or Hyundai Verna for Maruti's latest offering?
Mahindra and Mahindra (M&M) recorded the sharpest acceleration among large players, with EV retail jumping to 33,513 units from 7,139 units, an almost 5-fold jump, aided by strong demand for new launches.
MSI sold 3,21,898 units of vehicles during Q2, a growth of 16.80 per cent, compared with 2,75,586 units in the corresponding year-ago period.
Chairman of Japan's Suzuki Motor Corporation Osamu Suzuki on Monday visited the violence-hit Manesar plant of the company's Indian arm Maruti Suzuki.
India needs to come together to deal with the 50 per cent punitive US tariffs on Indian products and stand up to any kind of bullying, Maruti Suzuki India chairman R C Bhargava said on Thursday. "It is our duty as Indians to do our very best to promote and maintain our dignity and respect and not give in to any kind of bullying in this matter... the nation has to stand united," Bhargava said at the company's 44th Annaul General Meeting in New Delhi.
The quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses.
Net sales during the reported quarter rose to Rs 20,594.3 crore, up 14.4 per cent against the year-ago period.
MSIL, which currently has a subscription service that allows customers to lease its petrol-run and strong hybrid vehicles on a flexible, long-term basis without ownership commitments, will introduce a leasing service as well.
Stock markets closed higher for the second straight session on Tuesday, driven by gains in bank, IT and capital goods shares.
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