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.
Japan is expected to increase its investment target in India from the earlier 5 trillion yen ($34 billion) to almost 10 trillion yen.
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
Sales for the same month previous year were at 84,804 units, Maruti Suzuki India said.
According to estimates available with industry experts, the wage bill of Maruti Suzuki, the country's largest car maker, is expected to increase by Rs 65-70 crore (Rs 650-700 million) after the increments.
The national capital-based company recorded sales of 82,870 units in the domestic market last month, a 19.15 per cent fall from 1,02,503 units in November, 2010.
The car will rival Honda City, Hyundai Verna, VW Vento and Skoda Rapid.
The country's largest car-maker has also issued termination notices to 500 regular workers.
Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal. As per the Federation of Automobile Dealers Associations (FADA), the retail sales of country's largest carmaker Maruti Suzuki India rose to 14,79,221 units in 2022-23 fiscal, attaining a market share of 40.86 per cent. It had retailed 12,39,688 units in 2021-22 and grabbed a market share of 42.13 per cent.
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.
A clutch of automakers including Maruti Suzuki, Hero MotoCorp, Mercedes Benz India, Eicher Motors, TVS Motor, and Isuzu Motors India announced they had got the clearance from the governments of the states they operate in to resume operations.
Auto majors, except Maruti, register marginal growth in sales in October.
Car wil be available in two variants, with base version priced at Rs 6.52 lakh, top end at Rs 7.30 lakh
The strike by workers at Suzuki Powertrain India Ltd in support of their colleagues at the Manesar plant has made the situation even more precarious for the Maruti Suzuki India management.
The country's largest car maker Maruti Suzuki India (MSI) on Friday said it is recalling 1,81,754 units of petrol trims of various models, including Ciaz, Vitara Brezza and XL6, to replace faulty motor generator unit. This is the company's largest vehicle recall till date. As a responsible corporate, keeping in mind customer safety, the company has announced to proactively undertake a recall of some petrol variants of Ciaz, Ertiga, Vitara Brezza, S-Cross and XL6, MSI said in a regulatory filing.
It is currently working out the details of the quantum of price increase, which will vary depending on the model.
The country's largest carmaker Maruti Suzuki India on Monday reported a 25.34 per cent fall in total sales for July to 75,300 units, mainly due to sluggish market condition and non-production of hatchback Swift as the company is preparing to launch a new version of the car soon.
The country's largest car-maker Maruti Suzuki India on Monday said its Manesar plant has stopped functioning, resulting in a production loss of about 1,200 units so far as a workers' strike entered the third day.
Shares of Maruti Suzuki tanked over 5 percent last week on concerns related to its plant in Gujrat. However, its chairman says, company will deliver good results in ensung quarters.
Leaders of Maruti Suzuki Workers Union could not be contacted for their comments on future course of action.
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.
Maruti Suzuki India on Thursday said it is likely to raise in the next few weeks, the price of its entry level sedan Swift DZire to offset high input costs.Based on the Swift platform, Maruti has priced this entry level Sedan in Mumbai from Rs 4.70 lakh for petrol and at Rs 5.60 lakh for diesel (ex-showroom).
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
The company's Ritz, launched in May, was the first car in India to conform the Bharat Stage-IV emission norms.
India and the 27-nation European Union are negotiating Broad based Trade and Investment Agreement since June 2007, but a breakthrough has not yet been achieved due to strong differences on several of the issues.
The Alto was first launched in September 2000 and has registered sales of over 2 million units so far.
The country's largest car maker, Maruti Suzuki India Ltd, on Wednesday reported a 22.63 per cent jump in its sales at 75,109 units in June against 61,247 units in the same month last year.
India's used car market, which has been growing steadily at 10-12 per cent over the last 2-3 years, is expected to reach $40 billion in FY26.
The previous best selling year was 2010 when Maruti managed to sell around 10.6 lakh (1.06 million) units.
The new Swift, which the country's biggest car maker -- Maruti Suzuki India Ltd -- plans to launch next month, is more fuel-efficient. It will come with 1.2-litre petrol and 1.3-litre diesel variants.
Maruti Suzuki India said on Wednesday it has run out of stock of the two best selling models, Swift and DZire, which are produced at the Manesar plant where it has declared lockout following violence last week.
At a time when frequent labour unrests are plaguing the Indian auto industry, car market leader Maruti Suzuki was able to save about Rs 160 crore (Rs 1.6 billion) in 2010-11 by implementing suggestions given by its workers. "We have active engagement programmes going on in the company.
India's largest carmaker Maruti Suzuki India is planning to launch a new version of its small car Alto, the highest selling model in India, with a bigger engine.
Manesar plant was rolling about 1,200 cars every day before the first strike hit in June.
The country's largest carmaker, Maruti Suzuki, on Monday said it has stopped working on LPG models as it will roll out CNG variants of the entire range of its cars from early 2010, the first of which could be its highest selling model Alto.
Production at Gurgaon plant remained low on Thursday and rolled out only 600 vehicles as against the normal daily production of 2,800 vehicles.
The dealers have started accepting bookings for Rs 10,000.
The new SX4 comes with many features including an all new touch-screen audio with integrated navigation with Bluetooth.
While compact SUV Vitara Brezza will cost Rs 20K more, Baleno will be constlier by Rs 10K
