Car exports from India have reached the levels of around six lakh units annually.
According to the company, the talks that began on Wednesday morning at 11 am continued through the night and were still going on Thursday morning.
The company's overseas sales growth was driven mainly by the export of its flagship model A-Star, which clocked sales of over one lakh units till December 2010, within 11 months of launch.
Among the Sensex constituents, Asian Paints, Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were the laggards. However, Eternal, Titan, Adani Ports, Bharat Electronics Ltd, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel were among the gainers.
While compact SUV Vitara Brezza will cost Rs 20K more, Baleno will be constlier by Rs 10K
Nissan Motor Company, Japan's third-largest auto maker, has decided to cut its small car sourcing target from India's biggest car company Maruti Suzuki by 80 per cent in view of the severe downturn in Europe's automobile market.
Country's largest car maker draws nearly half of its sales from exchange programmes, rural focus.
"Out of the total exports, A-Star alone will comprise one lakh units while the rest would be other models," Maruti Suzuki India executive officer (marketing) Mayank Pareek told reporters in New Delhi. The company currently has an inventory level of three weeks and is producing more to meet the upcoming festive demands. On the company's diesel-engine plans, Pareek said it will expand the production capacity to 300,000 units per annum by 2010-11 from the existing 2,40,000 units
According to industry sources, the company has stopped its production of the current SX4 model in order to change engine, which would be in compliant with the Bharat Stage-IV norms.
The average discounts on the models, especially petrol, were all-time high during the July-September quarter.
While MSI's price cuts range between Rs 8,502 and Rs 30,984 across its models, Hyundai has slashed prices by between Rs 10,000 and Rs 135,300.
Company had posted a net profit of Rs. 656.55 crore in the corresponding quarter of 2009-10 fiscal.
The country's largest car-maker Maruti Suzuki India on Tuesday launched a diesel variant of its SX4 sedan at an introductory price of Rs 7.74-8.62 lakh (ex-showroom, Delhi).
MSI will inspect certain WagonR models for a possible issue of fuel hose fouling with metal clamp.
The country's largest carmaker Maruti Suzuki India on Thursday launched a new version of its multi-purpose vehicle XL6 as it gears up to bring a slew of new products this fiscal and take the challenges of prevailing uncertainties head-on. The new XL6 is powered by a 1.5-litre petrol engine with a peak power of 75.8 kW. It is available in manual and automatic transmission options, priced between Rs 11.29 lakh and Rs 14.55 lakh (ex-showroom). Speaking at the launch, newly appointed Maruti Suzuki India managing director and CEO Hisashi Takeuchi said, "With the uncertainties prevailing today, the business realities are continuously evolving.
The previous highest sales figure stood at 1,08,006 units in September 2010. It was also for the fifth time in this fiscal that the company's monthly sales crossed the one lakh mark.
For the entire 2012-13 financial year, however, the company's total sales increased by 3.33 per cent to 11,71,434 units from 11,33,695 units in 2011-12, Maruti Suzuki India said in a statement.
The new model, which is based on the company's fifth generation HEARTECT platform, comes with a BS-VI compliant one-litre petrol engine with a claimed fuel efficiency of 21.7 km per litre.
Maruti Suzuki India is facing stiff resistance from private sector mutual funds and insurance companies, which own almost 7 per cent of the company, for its decision to allow Suzuki to make cars for the Indian car-maker at a proposed plant in Gujarat instead of manufacturing vehicles itself.
However, the company has not provided a timeline for the launch of the small electric car.
The company had posted a net profit of Rs 465.36 crore (Rs 4.65 billion) for the same quarter last fiscal, Maruti Suzuki India said.
For hatchbacks and sedans, offers range between Rs 40,000 and Rs 80,000 while SUVs and multi-purpose vehicles carry benefits exceeding Rs 1 lakh.
According to estimates available with industry experts, the wage bill of Maruti Suzuki, the country's largest car maker, is expected to increase by Rs 65-70 crore (Rs 650-700 million) after the increments.
Maruti was allotted around 640 acres of land at Hansalpur which lies nestled between Mehsana district and the Sanand-Viramgam area.
The new Swift, which the country's biggest car maker -- Maruti Suzuki India Ltd -- plans to launch next month, is more fuel-efficient. It will come with 1.2-litre petrol and 1.3-litre diesel variants.
Demand for models such as Ertiga, DZire and Swift were robust in the quarter despite slowdown in auto industry.
Auto majors, except Maruti, register marginal growth in sales in October.
Car wil be available in two variants, with base version priced at Rs 6.52 lakh, top end at Rs 7.30 lakh
The new SX4 comes with many features including an all new touch-screen audio with integrated navigation with Bluetooth.
Leaders of Maruti Suzuki Workers Union could not be contacted for their comments on future course of action.
The move is a part of the company's plans to expand its portfolio of eco-friendly vehicles, which could see other models such as Alto, Eeco, Estilo and SX4 also powered by CNG fuel, industry sources said.
The GST Council on Wednesday approved two slabs of 5 per cent and 18 per cent effective from September 22, the first day of Navaratri.
The order, which came on Monday, stated that revenue authorities cannot split the agreement when the parties to the agreement considered the royalty and technical knowhow as a single package.
Maruti Suzuki India on Thursday said it is likely to raise in the next few weeks, the price of its entry level sedan Swift DZire to offset high input costs.Based on the Swift platform, Maruti has priced this entry level Sedan in Mumbai from Rs 4.70 lakh for petrol and at Rs 5.60 lakh for diesel (ex-showroom).
At a time when frequent labour unrests are plaguing the Indian auto industry, car market leader Maruti Suzuki was able to save about Rs 160 crore (Rs 1.6 billion) in 2010-11 by implementing suggestions given by its workers. "We have active engagement programmes going on in the company.
The Japanese giant is already investing Rs 6,000 to Rs 7,000 crore in its research and development (R&D) centre in India. Maruti Suzuki India (MSIL) will roll out a car completely made in India in the next three to four years, which will encompass all the major requirements, including design and engineering architecture, engine development, and the manufacturing process.
The country's largest carmaker, Maruti Suzuki, on Monday said it has stopped working on LPG models as it will roll out CNG variants of the entire range of its cars from early 2010, the first of which could be its highest selling model Alto.
Production at Gurgaon plant remained low on Thursday and rolled out only 600 vehicles as against the normal daily production of 2,800 vehicles.
The A-Star will be available at an introductory price ranging from Rs 3,47,000 to Rs 4,12,000. A-Star is Maruti's fifth global model which would be manufactured only in India. The company plans to sell 50,000 units in the domestic market, while targets to export 1 lakh units.
India's largest car maker Maruti Suzuki on Thursday said it has no plans to cut the price of Maruti 800 to compete with Tata Motors' Nano.
