Tata Motors surpassed Maruti Suzuki (India) (MSIL) to become the most-valuable automobile company, in terms of market capitalisation (mcap), after a gap of seven years. With this, the company's stock hit a new high on the BSE on Tuesday (January 30). The combined mcap of Tata Motors (Rs 285.51 crore) and Tata Motors DVR (Rs 29,119 crore) stood at Rs 3.146 trillion.
Suzuki and Toyota are in talks for electric mobility and MSI would continue to access technology from its parent.
Car owners in India had fewer problems with their new vehicles, with the JD Power Asia Pacific Satisfaction Index Study revealing that eight of the 11 manufacturers had improved their performance.
The list includes compact SUV, mini SUV, premium hatchback and premium MPV.
The move is prompted by the disruption in the car usage pattern caused by the app-based ride-hailing companies such Ola and Uber
Sales of the company's oldest and once bread-and-butter model M800 declined by 5.53 per cent at 3,124 units from same period last year, while A2 segment (comprising Alto, Wagon R, Estilo, Swift, A-Star and Ritz) witnessed a growth of 18.43 per cent at 51,437 units compared to same period last year.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
The surge in diesel vehicle demand has prompted the companies to explore options such as developing new engines as well as buying these from other companies.
As part of the new Central Motor Vehicle Rules, the government is framing a mandatory recall policy entailing penalties.
According to BSE, Bharti Airtel's revenue (on a standalone basis, excluding that from foreign operations and their subsidiaries) stood at Rs 49,919 crore (Rs 499.19 billion).
Union Minister Nitin Gadkari on Tuesday launched the country's first crash testing programme Bharat NCAP aimed at improving road safety standards of motor vehicles up to 3.5 tonnes. Bharat New Car Assessment Programme (Bharat NCAP) is India's own crash testing programme and is cheaper than tests conducted abroad, Gadkari said, adding that the star ratings will help buyers understand the quality of the product and make an informed purchase decision. Bharat NCAP will be implemented from October 1, 2023.
It expects the Indian market to grow to 10 million units annually by 2030 and it intends to control half the market then, like it does now.
To be badged the Opel Agila for Europe, the Splash might also be produced in India by Maruti Suzuki for their export commitment to Nissan Europe, totalling 50,000 units.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
Ford India and Renault too reported good sales growth in April
The investment will be made through a joint venture with Toshiba and Denso. The battery is the most expensive single part of an EV.
Maruti Suzuki, with a half a dozen models ranging from the best-selling car Alto to WagonR, Swift and Estilo accounts for around 57 per cent of the small car market in India. In the premium hatchback segment, the company's market share stands at a robust 48 per cent.
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Maruti Suzuki was allotted 700 acres by the Gujarat government for its third manufacturing unit, near Mehsana, in June last year.
Workers rally in support of sacked employees at Manesar
Auto firms have reported a good jump in sales for the month of December
The country's largest carmaker Maruti Suzuki India (MSI) is planning to invest around Rs 18,000 crore on a new manufacturing facility in Haryana, as per a top company official. The new plant would replace the company's Gurugram-based facility and is expected to have an installed production capacity of 7.5-10 lakh units per annum. While confirming the Rs 18,000 crore investment plan, MSI chairman RC Bhargava told PTI that the company had always planned to shift the Gurugram facility to a nearby location.
Zomato on Monday became the first new-age company to join the prestigious 30-share benchmark Sensex, replacing JSW Steel. This milestone marks a significant achievement not only for Zomato but also for the Indian startup ecosystem, which is increasingly making its presence felt in the $5.2 trillion listed ecosystem.
General Motors, Nissan Motor India and Volkswagen managed to ride the tide with new launches.
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
iM-4 will be manufactured in India and exported to Europe from 2017.
Car makers have started hiring from Gujarat's industrial training institutes (ITIs) for their factories across the country.
Cars have just got dearer with major automobile firms, including Maruti Suzuki India, Hyundai and General Motors, increasing prices this month in order to offset rising input costs.
The Centre is keen on a probe to find out if the violence in the Maruti plant in Manesar has any Maoist link.
The offer covers the Ritz, Swift, Swift Dzire and Ertiga, and is valid until May 24.
A shortlist using artificial intelligence would be prepared to identify eligible candidates and match them to the suitable internship opportunity. The shortlist would be shared with the companies on Tuesday, October 15.
While sales of compact cars, including models such as Swift, Celerio, Ignis, Baleno and Dzire declined, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, increased 26.3 per cent to 19,177 units as compared to 15,178 in the year-ago month.
The vehicles affected by the recall are manufactured between September 2011 and July 2014.
The company sold 62,515 vehicles in December 2007 which includes 4,114 units of exports
Equity benchmarks ended higher on Friday helped by buying in index major Reliance Industries along with fresh foreign fund inflows. Extending its previous day's rally, the 30-share BSE benchmark climbed 203.01 points or 0.34 per cent to settle at 59,959.85. During the day, it jumped 376.33 points or 0.62 per cent to 60,133.17.
Several industry leaders on Monday supported United Progressive Alliance chairperson Sonia Gandhi's proposal of giving annuity to farmers in addition to compensation for land acquired for industrial purposes.
Equity benchmarks ended lower on Thursday as a fag-end sell-off wiped out early gains, with IT and bank stocks playing spoilsport amid monthly derivatives expiry. After remaining in the positive territory for most part of the trade, the BSE Sensex suddenly came under selling pressure during the last half-hour of the session, declining 310.71 points or 0.53 per cent to settle at 58,774.72. During the day, it hit a high of 59,484.35 and a low of 58,666.41.
Maruti Suzuki has tried its level best to fit Ertiga with powerful engine options, impressive features and 'killer looks'.
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
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MSI had reported 14.4 per cent decline in its total sales in May this year at 84,677 units.
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