'It will take some more time because the affordability of these cars have changed drastically.'
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.
Maruti Suzuki India may have taken pride in its 'Gypsy' model with defence forces as its main customers but Mahindra & Mahindra Vice-Chairman and MD Anand Mahindra has likened it to a rabbit compared to the company's cheetah-inspired 'XUV500'.
MSIL deputed another 40 engineers from its Gurgaon plant to work at Manesar also in Haryana. This takes the total strength of engineers at the facility now to 90.
From the Sensex pack, IndusInd Bank, Infosys, Bajaj Finserv, Mahindra & Mahindra, Zomato, Hindustan Unilever, Power Grid, Axis Bank, UltraTech Cement, Adani Ports, and Tata Consultancy Services were among the laggards. On the other hand, Sun Pharmaceuticals, ICICI Bank, Bharti Airtel, HCL Technologies, Maruti Suzuki India, Larsen & Toubro, Reliance Industries, Kotak Mahindra Bank and Titan were the gainers.
The final blueprint of the multi-crore global tie-up between Volkswagen and Suzuki Motor Corporation has started to unfold, with Maruti Suzuki looking at becoming an original equipment maker in cars for the German automaker for markets outside India.
The company, which produced 92,653 units in September 2012, however, had sold more cars this year in the same month.
Around 2,000 workers at the plant have been on strike since Saturday, resulting in a production loss of about 5,400 units, so far.
The two car companies have one of the most prominent hatchbacks in the premium segment namely, Maruti Swift and Honda Jazz.
Hyundai got two stars for Grand i10 Nios and Kia got three stars for Seltos.
The country's largest car maker Maruti Suzuki India on Tuesday said its sales may be hit if strike at its Manesar plant prolongs, while it has already incurred production loss of about 3,000 units till the 4th day of stir by workers.
Maruti Suzuki India (MSI) and Hyundai posted single-digit growth in domestic sales in June, even as the overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year. Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month. MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year.
The company said the price rise is effective from April 4 across the country.
Tata Motors on Friday said it will hike the prices of its passenger vehicles, excluding the Nano, by up to Rs 36,000 from April 1, to offset rising input costs.
The company is voluntarily undertaking a recall for WagonR (1 litre) manufactured between November 15, 2018, and October 15, 2019, and Baleno (petrol) manufactured between January 8, 2019, and November 4, 2019, MSI said in a regulatory filing.
The Ertiga model will be launched in both petrol and diesel versions.
With the impasse that started on August 29 continuing, the company said it brought in 50 more ITI-trained and experienced workers at the plant.
The company sells a range of models starting with the small car M800 to the luxury sedan Kizashi, which are priced between Rs 204,000 and Rs 17.5 lakh or Rs 1.75 million (ex-showroom Delhi).
Sales of the Maruti's mini-segment cars such as M800, A-Star, Alto and WagonR, fell by 15.87 per cent
The union is organising a protest rally this afternoon at Gurgaon against the sacking, apart from making other demands.
The Mahindra's Scorpio-N becomes the first body-on-frame chassis SUV to secure a five-star Global NCAP rating.
The country's biggest car maker Maruti Suzuki India on Monday reported 27.4 per cent decline in car sales during November at 47,103 units compared to 64,885 units in the same month last year.
The recently anointed managing director and chief executive officer at Maruti Suzuki India Ltd tells Business Standard how he intends to get back to over 50 per cent share in the domestic market, apart from a larger role in the parent's global operations.
The new body -- Maruti Suzuki Workers' Union -- has received its registration number from the Haryana Labour Department this week and the company has also decided to recognise it for any future negotiations at the plant.
The company said its domestic sales increased by 0.7 per cent at 56,411 units as against 56,000 units in June last year. It said the A2 segment, comprising Alto, Zen Estillo, Wagon R and Swift registered a marginal growth of 0.3 per cent at 37,767 units, against 37,646 units in the same month last year.
It will introduce new cars across segments and also target rural India to push up sales.
From the Sensex pack, Tech Mahindra, HDFC Bank, Larsen & Toubro, ITC, Infosys, IndusInd Bank, Kotak Mahindra Bank, Titan and HCL Technologies were among the gainers. Maruti Suzuki India, Tata Steel, Bajaj Finance, UltraTech Cement, Nestle India, Axis Bank and Tata Consultancy Services (TCS) were among the laggards.
Maruti Suzuki India reported on Thursday a 14.96 per cent rise in its domestic sales during October 2007, at 64,258 units against 55,894 units in the same month last year. The company's exports during the month grew 20.8 per cent at 5,157 units compared to 4,269 units in October a year ago.
Maruti Suzuki had discontinued the mid-sized sedan Baleno in 2006, which was replaced by SX4 later on.
The country's top carmaker Maruti Suzuki India (MSI) on Wednesday said it has decided to advance maintenance shutdown at its two Haryana-based manufacturing plants by a month amid a surge in the COVID-19 cases across the country. The auto major was supposed to take the shutdown at its two plants in Gurugram and Manesar in June, but due to the tsunami of COVID-19 cases, it decided to take it one month earlier to save oxygen for medical needs. MSI noted that as part of the car manufacturing process, it uses a small amount of oxygen in its factories, while relatively much larger quantities are used by the manufacturers of components.
The carmaker has managed to significantly improve its product mix in the past two-three years by successfully launching sedans, utility vehicles and premium hatchbacks.
With seven models to choose from, it can get quite confusing.
The ceremony for conferring the award will be held at the Imperial Palace in Tokyo on November 7, according to a statement by the Embassy of Japan in New Delhi.
Rebutting reports that the company is "moving out of Haryana and shifting its base to Gujarat" after its decision to purchase land in Gujarat, MSI said: "The company's plan to invest in Gujarat started much before the industrial unrest situation at Manesar."
About 2,000 workers at the plant have been on strike since Saturday, resulting in a production loss of about 3,000 units till Tuesday and the value of the loss is estimated to be about Rs 150 crore (Rs 1.5 billion).
The company has been gradually ramping up production at the plant, which had been locked out for a month following the July 18 violence in which one senior official was killed.
The country's largest car maker, Maruti Suzuki India, on Tuesday said it, along with vendors, could invest up to Rs 18,000 crore (Rs 180 billion) in Gujarat as it looks to produce about 20 lakh (2 million) units in the long run in the state.
Maruti Suzuki India, country's largest car maker, on Wednesday said it will increase the prices of its entire range of models by up to Rs 10,000 from October first week, mainly due to depreciation of rupee.
The amount would depend on the time period that would elapse from the start to when capacity reaches 1.5 million cars
Benchmark stock indices Sensex and Nifty jumped over 1 per cent on Wednesday amid foreign funds turning net buyers of domestic equities after a long gap and positive opening in European stock markets. The 30-share BSE benchmark index climbed 616.62 points or 1.16 per cent to settle at 53,750.97. During the day, it rallied 684.96 points or 1.28 per cent to 53,819.31.
