The country's largest automobile maker Maruti Suzuki India (MSI) on Monday said it will hike prices of its cars in the second quarter of the current fiscal due to increase in the input costs. "Over the past year, the cost of the company's vehicles continue to be adversely impacted due to increase in various input costs. "Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise," Maruti Suzuki India said in a regulatory filing.
The country's largest carmaker Maruti Suzuki India (MSI) on Thursday said it has appointed Hisashi Takeuchi as the new managing director and CEO with effect from April 1, 2022. The company's board in its meeting held on Thursday, appointed Takeuchi as the managing director and CEO from April 1, consequent to the completion of the term of Kenichi Ayukawa on March 31, 2022, MSI said in a statement. In order to facilitate a smooth transition, Ayukawa will continue as a whole-time Director designated as Executive Vice Chairman till September 30, 2022, and will continue to provide guidance to the auto major, it added.
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.
Indian benchmark indices, Sensex and Nifty, rebounded in early trade after two days of decline, driven by positive global market trends and strong buying in auto stocks. This recovery follows a robust performance in US markets and a rally in Asian markets, particularly Japan's Nikkei, fueled by AI-driven technology optimism. Track Sensex, Nifty on July 1.
Car market leader Maruti Suzuki India on Thursday said it will hike prices by up to Rs 32,500 across various models from February 1 to partially offset the rise in input costs. Due to rising input costs and operational expenses, the company plans to increase car prices, starting February 1, 2025, Maruti Suzuki India said in a regulatory filing.
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 India will launch electric vehicles in the country only after 2025 as demand for such vehicles at the moment is less and it would like to sell around 10,000 units a month whenever it enters the electric mobility space, company chairman RC Bhargava said on Wednesday. Addressing a virtual conference on the company's second quarter earnings, he said under the current circumstances a lot of things in the EV ecosystem such as batteries, charging infrastructure and electric supply are done by other parties and therefore the costing is not in the hands of the company. Also with fuel prices going up, car market leader Maruti Suzuki India is intensifying its focus on more CNG offerings of its models.
In 2025, the Maruti Suzuki Dzire has emerged as India's top-selling car, while sport utility vehicles continue to rule the broader passenger vehicle market, capturing almost 55 per cent of the segment.
Passenger vehicle sales in India kicked off on a flat note in new fiscal 2024-25 with 3.38 lakh units sold in April, impacted by high base effect and muted demand due to the ongoing general elections. Dispatches of passenger vehicles from manufacturers to dealers were at 338,341 units in April 2024 as compared to 332,468 units in the same month last year, a growth of 1.77 per cent with major players Maruti Suzuki India, Hyundai and Tata Motors reporting marginal growth in their domestic wholesales.
Maruti Suzuki India on Tuesday reported an 18 per cent year-on-year dip in consolidated net profit at Rs 3,102 crore for the second quarter ended September hit by the withdrawal of indexation benefit and change in the tax rate on long term capital gains on debt mutual funds. The country's largest carmaker had posted a net profit of Rs 3,786 crore in the July-September quarter of last fiscal.
In a filing to the BSE on Monday, Maruti Suzuki India said Suzuki Motor Corporation's stake in MSI has increased to 56.2 per cent from 54.2 per cent due to a share swap agreement with the domestic car market leader to acquire Suzuki Powertrain India Ltd.
Maruti Suzuki India's net profit surged 80.3 per cent to Rs 3,716.5 crore in the September quarter, driven by better sales, softening commodity prices, cost reduction efforts and higher non-operating income. The company had delivered a net profit of Rs 2,061.5 crore in the year-ago period, Maruti Suzuki India said in a statement on Friday. Maruti said it is expecting the affordability of small cars in the domestic market to come back in the next 2-3 years in the face of rising income levels of people and a growing economy, among others.
MSI's exports increased by 54.34 per cent to 14,386 units in January, from 9,321 units in the year-ago period.
MSI is also looking to produce one million vehicles by the end of this fiscal.
Maruti Suzuki India will increase the prices of its vehicles 'substantially' from next month as it looks to offset the impact of rising input costs and make provisions to update the model range to conform to stricter emission norms which kick in from April 2023. In a regulatory filing on Friday, the country's largest carmaker said it continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the automaker makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase, it added.
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.
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.
India's domestic passenger vehicle sales experienced a robust 24.6 per cent year-on-year increase in June, propelled by favourable government policies like income tax relief and repo rate cuts, alongside resilient rural demand, even as global crude oil prices pose potential cost pressures.
Maruti Suzuki, India's biggest carmaker, reported a 36 per cent rise in third-quarter net profit, matching estimates, as favourable foreign exchange movement and cost reduction efforts offset falling sales.
In the domestic market, the car has been well accepted and currently the company has over 80,000 bookings for the model.
Maruti Suzuki India on Monday said the production at its plant in Gurgaon has been impacted due to strike at Suzuki Powertrain India Ltd (SPIL), which supplies engines to MSI.
Maruti Suzuki India on Tuesday reported a 28 per cent rise in exports at 263,068 units in 2022, its highest ever overseas shipments. The company's previous highest exports was achieved in 2021 with 205,450 units. The highest exported models in 2022 were Dzire, Swift, S-Presso, Baleno and Brezza, the company said in a statement.
Leading carmakers Maruti Suzuki and Hyundai on Thursday reported a dip in wholesales in July as companies reduced vehicle dispatches to dealers amid moderation in demand. Maruti Suzuki India said its total domestic passenger vehicle sales stood at 137,463 units in July against 152,126 units in the year-ago month, down 9.64 per cent.
Car market leader Maruti Suzuki India's July sales remained almost flat at 58,543 units as against 57,909 units in the same month last year.
The scrip jumped as investors tracked weakness in the Japanese yen which would boost margins of Suzuki's Indian subsidiary by reducing the costs of imports.
In a filing to the BSE, Maruti Suzuki India said HSBC Global Investments Fund Mauritius Ltd had sold 1,99,198 shares in the open market on June 29.
Ahead of this year's Budget, leading car manufacturer Maruti Suzuki on Monday asked the government not to roll back the entire stimulus package at once as it may hamper economic growth.
"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.
The country's largest carmaker, Maruti Suzuki, on Tuesday said it expects sales to grow around 10 per cent in 2010.
Maruti Suzuki India on Friday reported an over four-fold increase in consolidated net profit to Rs 2,112.5 crore in the second quarter ended on September 30, 2022, riding on record sales. The company had posted a consolidated net profit of Rs 486.9 crore in the same period last fiscal, Maruti Suzuki India said in a regulatory filing. Total revenue from operations was at Rs 29,942.5 crore as against Rs 20,550.9 crore in the year-ago period.
Japanese automaker Suzuki Motor Corporation will invest Rs 70,000 crore in the next five to six years in India to strengthen its operations in the country, its representative director and president Toshihiro Suzuki said on Tuesday. Prime Minister Narendra Modi on Tuesday kicked off exports of Maruti Suzuki India's first electric vehicle e VITARA to 100 countries and also inaugurated the production of lithium-ion battery cells for strong hybrid electric vehicles at its facility in Gujarat.
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.
Oil-marketing companies (OMCs) are set to significantly expand the sale of flex fuel (E85) across India, with plans to reach 5,000 outlets in major cities by the end of next year, according to Petroleum Minister Hardeep Singh Puri. This move aims to boost ethanol demand, reduce crude oil imports, and cut carbon emissions, coinciding with the launch of India's first flex-fuel vehicles by Maruti Suzuki and Hero MotoCorp.
Tata Motors expands its market leadership in India's electric passenger vehicle (ePV) segment, capturing 39 per cent of the market in Q1FY27, while simultaneously strengthening its position as the nation's second-largest carmaker amidst fierce competition and rapid market growth.
Maruti Suzuki India Ltd is not contemplating any price raise, despite a 20-30 per cent surge in raw material prices in recent months.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
The car will be priced up to Rs 805,000.
Speaking after the meeting, Maruti Suzuki chairman R C Bhargava said the company will export 'Baleno' at the moment
Indian carmakers experienced a robust start to the new fiscal year, with an estimated 4.5 lakh passenger vehicles sold in April, marking a 27 per cent increase year-on-year, attributed to factors like GST 2.0, repo rate cuts, and income tax benefits.
The country's largest carmaker Maruti Suzuki India (MSI) on Thursday said it is planning to increase vehicle prices from January next year to offset the impact of the rise in input costs. The price increase would vary from model to model, the auto major said, without sharing the details.
