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.
Maruti has rolled out the millionth unit of Alto, since its launch in Sept 2000.
Maruti Suzuki India, which last year dropped Udyog as its middle name and appointed its first Japanese managing director, has set up a new management structure installing five Indians in crucial decision-making positions. This layer forms the second rung of the company's executive management, just below managing director S Nakanishi. Earlier, when Jagdish Khattar was the managing director, he was the only Indian in the top management.
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.
Maruti Suzuki's announcement that a proposed factory in Gujarat will be owned not by it but by a fully-owned subsidiary of Suzuki Motor Corporation gives rise to several questions related to corporate governance - and to larger questions about the regulation of multinationals in India.
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
Hit by recurrent labour unrest at its Manesar unit in Haryana, Maruti Suzuki India Ltd (MSIL) on Thursday said the company would introspect on whether an affiliated union with a pro-business approach and mature leadership would benefit the company.
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
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.
Maruti Suzuki India growing by a paltry two per cent in January, recorded the lowest growth in this financial year, which could be due to the launch of Tata's Nano.
A group of casual workers have been sitting in front of the Manesar plant, asking the company to let them rejoin work.
The country's largest car maker Maruti Suzuki India on Tuesday reached a wage settlement agreement with its workers at its Gurgaon plant, under which the employees will get an average salary hike of Rs 18,000 per month spread over three years.
The unit has a manufacturing capacity of 700,000 cars in two shifts. This means the Japanese major is cutting production by 35,000 cars as higher loan rates and a slowing economy sapped demand for automobiles. Sales at Maruti, 54 per cent owned by Suzuki, fell 7 per cent in October. India is the biggest global market for Suzuki, Japan's second-largest minicar maker.
It's not only the Indian markets that command a valuation premium over their global peers; shares of subsidiaries of India-listed multinational companies (MNCs) also trade at rich valuations compared to their parent companies. An analysis of 12-month forward price-to-earnings (P/E) and price-to-book (P/B) multiples of domestically listed MNCs shows that most quotes have a premium ranging from 2.1x to 6x that of their parent. Similarly, P/B, in most cases, is significantly higher in the domestic market.
In the last two days, the company had done the ground work for resumption of work in the press, weld and paint shops by bringing in additional workers.
Will sign agreement with vendors to make sure indigenisation takes place within given timeframe.
Maruti Suzuki India on Tuesday reopened its Manesar plant amid heavy security, a month after a lockout was declared due to the violence in which one senior company official was killed and 100 others injured.
Rs 15,000-cr investment planned to protect vendors from rising realty prices
Shows i10 in poor light two weeks after Hyundai took swipes at Ritz.
Maruti is trying to move up the segment by focusing on premium cars, SUVs and even trucks.
Under the campaign --'Beat The Heat', the company will also offer free top wash, TrueValue evaluation and exchange.
MSI exported 70,023 units in the 2008-09 fiscal.
Khattar's place will be taken by Shinzo Nakanishi, who is currently the chairman of MSIL. R C Bhargava, who is a director, has been named the new chairman.
The country's largest car maker Maruti Suzuki India (MSI) on Thursday said it is considering increasing prices of its products from next week to offset the impact of rupee depreciation.
The company said sales of the compact segment comprising Swift, Estilo, Ritz surged over two fold to 17,409 units
Japanese manufacturer Suzuki displayed two cars at the Frankfurt Motor Show that have a huge potential for launch in India.
From the Sensex pack, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Tata Motors, Bajaj Finance, Kotak Mahindra Bank, Mahindra & Mahindra, Bharti Airtel and Maruti Suzuki India, Tata Steel were the major laggards. PowerGrid, Sun Pharmaceuticals, UltraTech Cement, NTPC, Asian Paints, Nestle India, Titan, IndusInd Bank and Axis Bank were among the gainers.
'It will take some more time because the affordability of these cars have changed drastically.'
The latest round of violence in Manesar brings into sharp focus how Maruti could have done better in terms of industrial relations management.
As rivals gain ground, the market share of the country's largest car-maker, Maruti Suzuki India, continues to hover below the 50 per cent mark, despite the firm posting its best-ever monthly domestic sales in July.
Car market leader Maruti Suzuki India on Monday reported 24.1 per cent increase in net profit for the quarter ended December 31, 2007, at Rs 467 crore (Rs 4.67 billion).
The labour unrest at Maruti Suzuki India's Manesar plant took a violent turn on Thursday when a group of supervisors were attacked on their way to work, with five of them sustaining injuries.
Still recovering from the impact of workers' violence in July at the Manesar plant, the company also said it is looking at 10 per cent increase in overall production this fiscal.
India's largest automobile manufacturer, Maruti Suzuki is planning to launch the company's entry-level sports utility vehicle, Jimny in the country by the year-end.
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Country's largest car-maker Maruti Suzuki India continues its dominance on the Indian roads, with its four models, led by entry-level small car Alto.
Named ConceptFutureS, it is a uniquely styled compact car with distinct SUV like characters and will define the next generation of design for compact vehicles in India, the company said.
Maruti Suzuki India on Thursday said it will hire about 500 workers in this fiscal for the second unit at Manesar facility that was operationalised last year.
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.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
The company, which currently sells a range of vehicles from Alto to S-Cross, said it has taken the decision to hike prices due to an increase in input costs. The weighted average price rise, with effect from April 18, in ex-showroom prices (New Delhi) across models is 1.3 per cent, it added.
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