Maruti Suzuki India and Tata Motors reported decline in sales during June this year.
The strike at Maruti Suzuki India's plant in Manesar is threatening to spread to Gurgaon-Manesar belt, with a panel of workers of various firms in the region warning that a similar stir could hit others unless demands of their agitating colleagues' at India's largest carmaker are met.
The company had launched the DZire in March 2008 in both petrol and diesel variants priced between Rs 4,49,000 and Rs 6,70,000. This follows the company's recent milestones, including achieving 80 lakh units of cumulative production for all its brands, followed by roll-out of one lakh units of its KB-series engines and launch of the 1,00,000th units of its flagship export model 'A-Star'.
Maruti Suzuki India on Thursday said it is considering an increase in prices of its products from January next year to offset the impact of rupee depreciation.
Maruti, Hyundai and General Motors posted negative results whereas Honda car sales zoomed in November.
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
The company, which already has around 66 per cent market share in the hatchback segment and about 50 per cent in the overall domestic passenger vehicle segment, currently sells Vitara Brezza and S-Cross in the SUV segment. In an interaction with PTI, MSI managing director and CEO Kenichi Ayukawa acknowledged that there was some lag in launching new products due to the pandemic but the company is now on track regarding new model launches.
Maruti Suzuki claims the new SUV delivers an outstanding fuel efficiency of 24.3 km per litre.
A series of strikes at the country's largest carmaker Maruti Suzuki India's Manesar plant since June this year has resulted in excise revenue losses to the tune of nearly Rs 350 crore (Rs 3.50 billion) for the government, while the company has already suffered a hit of up to Rs 1,540 crore (Rs 15.40 billion).
Dealers said the discounts this March are higher than the same month in the previous year.
The risk-reward for the Indian markets, Morgan Stanley said, is turning favourable.
The top six auto brands are: Maruti Suzuki, Hyundai, Tata Motors, Toyota, Kia and Mahindra & Mahindra.
Reeling under increasing input costs, especially steel, country's biggest car maker Maruti Suzuki India has hiked prices of its products across various models between Rs 1,000 and Rs 18,000. The company has hiked the price of its latest model Swift Dzire by Rs 18,000. It had launched the sedan with an introductory price ranging Rs 4.49 lakh and Rs 6 lakh across different variants.
Suzuki Motor Corporation Chairman Osamu Suzuki has rejected an appeal by the Gurgaon unit of the Maruti Udyog Kamgar Union to reinstate the 500 workers who were sacked by Maruti Suzuki's management for their alleged involvement in the violence at the company's Manesar plant on July 18, which left one dead and several injured. The facility was locked out for about a month.
Equity benchmarks Sensex and Nifty on Thursday gave up all early gains to settle lower as surging oil prices amid the ongoing conflict between Russia and Ukraine hit investor sentiment. The 30-share BSE Sensex started the trade on a higher note and jumped 527.72 points in morning deals to a high of 55,996.62. However, during the afternoon trade it surrendered all its early gains and finished at 55,102.68, lower by 366.22 points or 0.66 per cent.
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
Sluggish urban demand, a high base effect, and weak sales of hatchbacks and sedans weigh down passenger vehicle sales in FY25.
Among the Sensex stocks, JSW Steel, Asian Paints, Maruti Suzuki India, NTPC, Adani Ports and Special Economic Zone, Bharti Airtel, ITC and Tech Mahindra were the major gainers. Reliance Industries, Tata Motors, Infosys, Mahindra and Mahindra, Bajaj Finance and Axis Bank were the laggards.
Maruti announced 10,000 pre-bookings for Ciaz of which 60 per cent was for diesel models.
Suzuki Motors' Gujarat plant will be ready by 2017.
Automobile sector saw a huge spurt in sales in September as per figures that poured in on Friday.
From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards. Reliance Industries fell the most by 2.38 per cent to close at Rs 1,171.10 apiece.
Car maker Maruti Suzuki India Ltd on Monday reported a 15.75 per cent jump in the total sales in May at 79,872 units as against 69,001 units in the same month last year.
Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023.
Maruti Suzuki India Limited (MSIL), the country's largest car maker, has initiated a service campaign to inspect a probable fault and replace a part of the clutch operation system in the Ciaz, its mid-size sedan.
Sales for the same month last year were at 79,872 units.
The Alto was first launched in September 2000 and has registered sales of over 2 million units so far.
According to the latest data from SIAM, in the top 10 best passenger vehicles, Maruti's Alto retained the top position last month
Maruti ready to upgrade safety features.
Morgan Stanley Sales & Trading, US, believes the stock is better value for money than others and has a upside as high as 73 per cent. A slowdown in the economy has hit demand and led to a fall in overall consumption in an auto market which till recently was one of the fastest growing in the world.
Recently, Suzuki Motor Corp (SMC) in an investor presentation expressed strong intent to enter the electric vehicle (EV) space. This is part of a larger strategy the Hamamatsu-based firm has drawn up in developing electrification of technologies as it seeks to achieve carbon neutrality. The significance of this presentation is that it marked the first time that the Japanese carmaker spelt out its EV strategy with well-defined timelines. SMC plans to develop electrification technologies by 2025, fully implement them in products from the same year, and make a full-scale quantitative increase from 2030.
Watch the flash mob that take over Auto Expo 2018.
The company had sold 50 units of SX4 sedan in August 2014.
Includes all-new versions of Swift and Swift Dzire.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
Stingray is a sportier version of the WagonR with a more aggressive frontal styling and masculine cues in the rear.
Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
The company's total income in the quarter under review grew to Rs 4,735.83 crore (Rs 47.36 billion) from Rs 3,540.89 crore (Rs 35.40 billion) in the year- ago quarter, up 33.74 per cent year-on-year, MSIL said in a statement.
7 Maruti models among top 10 best selling passenger vehicles in April
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