Maruti Suzuki India on Thursday launched a limited edition version of its popular model WagonR, named Avance, with prices starting at Rs 430,000.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Automaker Toyota Kirloskar Motor (TKM) on Tuesday said it will increase prices of its entire model range by up to 2 per cent with effect from October 1 in order to partially offset the impact of rise in input costs. The company, which is a joint venture between Japan's Toyota Motor Company and Kirloskar Group, sells a range of vehicles including Innova Crysta and Fortuner in the domestic market. The company will realign the prices of its models, with effect from October 1, 2021, TKM said in a statement.
Company had posted a net profit of Rs. 656.55 crore in the corresponding quarter of 2009-10 fiscal.
A strong demand for diesel SUVs has bumped up the contribution of these variants to Hyundai Motor India's sales to a three-year high, a company top official told Business Standard. The local arm of the South Korean carmaker has benefitted after some leading manufacturers - including car market leader Maruti Suzuki - pulled the plug on diesel models amid tightening regulations. Hyundai has also gained from the changing travel preference -people are frequenting getaways and taking to the road a lot more than what they did before the pandemic. This trend has been fuelling overall SUV sales.
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.
With induction of these people, the company's workforce will expand by about 27 per cent to nearly 11,000 employees.
Analysts have predicted a 23 per cent volume growth for the auto segment between FY22 and FY25, riding on the company's differentiated EV and SUV plan. M&M is already a market leader with a 36 per cent share in electric three-wheelers, and its Zaheerabad plant in Telangana is ready to cater to demand. In the farm segment, the company plans to focus on niche electric products.
The global semiconductor shortage hit passenger vehicle sales in September, with major manufacturers like Maruti Suzuki, Hyundai and Mahindra & Mahindra reporting a decline in sales on Friday. Kia India and Honda Cars also reported a dip in wholesales last month as compared with the year-ago period. Carmakers like Tata Motors, Toyota Kirloskar Motor, Nissan and Skoda, however, reported an increase in passenger vehicle dispatches last month despite supply chain issues.
India's auto segment is booming like never before.
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).
Volkswagen Group is planning to launch a crossover Sports Utility vehicle called Volkswagen Rocktan soon in India.
Volkswagen last year acquired 20 per cent stake in Maruti Suzuki India's parent Suzuki Motor Corp for about $2.5 billion (over Rs 11,500 crore).
Open order books in February breach 700,000; wait period for some models exceed a year.
So far, the current year has not been great for the leading car exporters from India. In the top five list of exporters -- Hyundai, Ford, Maruti Suzuki, General Motors and Volkswagen -- it is only Hyundai which is clocking a growth.
Giving in to rising input cost pressures, the country's largest carmaker by sales, Maruti Suzuki India has increased prices of its vehicles by up to Rs 8,000 across models, except its newly launched compact car Alto K10.
Maruti Suzuki, which crossed the one-million car production mark last year, will have to produce at least 100,000 additional units this year to meet the demand.
With multiple options in the compact sport utility vehicle (SUV) and compact sedan space, the mid-size sedan seems to be losing its charm among customers.
India's largest carmaker Maruti Suzuki plans to ride on the back of new launches in the future to retain its numero uno position in the market place and beat back competition from its peers.
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.
Automobile companies are all smiles prior to Diwali, the festival of lights with almost all of them registering a healthy growth in sales.
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.
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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 recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata
MSI's exports, however, fell by 13 per cent to 10,554 units.
'In FY23, PV sales are expected to end the year at a record 3.8 million units, up 26 per cent. In FY24, however, the industry is expecting 5-7 per cent volume growth'
Automobile sector saw a huge spurt in sales in September as per figures that poured in on Friday.
The country's largest carmaker Maruti Suzuki India is understood to be planning to ramp up its output by about 10 per cent to produce over 1,10,000 units every month from October.
Automobile companies put in an impressive show in April.
In a statement issued on Friday, India's largest car manufacturer said that 'due to sharp increase in the input costs and also introduction of BS-IV norms in some models, Maruti Suzuki India Ltd has decided to pass on part of this cost impact to customers.'
Bajaj Auto's margins are expected to expand 100 basis points, as volumes have recovered.
After a strong opening, shares of the car-maker further zoomed 9.37 per cent to Rs 1,899.90 -- its 52-week high on the BSE.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
In March it reported an increase of 38.85 per cent in sales in the domestic market to 110,424 units from 79,530 units.
According to information available on the company's website, Swift, which was launched as a world strategic model in 2004, reached cumulative worldwide sales of four million units in August 2014 -- nine years and nine months since the start of sales in 2004.
Car makers Volkswagen, BMW, Nissan, Ford, Fiat, Skoda, Maruti, Tata, and Toyota are all set to make 2010 a delightful year for car lovers.
Sales for the same month last year were at 79,872 units.
Japanese auto major Nissan on Wednesday said it is discontinuing Datsun brand in India, nine years after the company kicked off the marque's global relaunch in the country. Having failed in its ambitious global relaunch of Datsun, Nissan had in 2020 discontinued the brand in Russia and Indonesia, the other two countries along with South Africa and India which were marked as key markets targeting the entry level car segment. Confirming the move to discontinue the Datsun brand, Nissan India in a statement said, "Production of Datsun redi-GO has ceased at the Chennai plant (Renault Nissan Automotive India Private Ltd). "Sales of the model still continue (till the stock lasts)."
With seven models to choose from, it can get quite confusing.
