Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) - more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
The small car, initially supposed to hit the market by 2011, was delayed by a year due to differences between the partners over pricing and design.
The country's largest carmaker Maruti Suzuki India will not "walk away" and fight to get back to 50 per cent market share in the domestic passenger vehicle segment, according to company Chairman R C Bhargava. The auto major, which is commemorating 40 years of operations, has seen its market share drop to 43.38 per cent in FY22 from a peak of 51.21 per cent in FY19. In order to get back its dominant leadership, the company plans to drive in models catering to both urban and smaller cities and rural areas.
Maruti Suzuki's announcement that a proposed factory in Gujarat will be owned not by it but by a fully-owned subsidiary of Suzuki Motor Corporation gives rise to several questions related to corporate governance - and to larger questions about the regulation of multinationals in India.
The company, which has been negotiating contract manufacturing deal for its A-Star model with Nissan, also expects to start exports for the Japanese car maker by around February-March next year. The company, which has been negotiating contract manufacturing deal for its A-Star model with Nissan, also expects to start exports for the Japanese car maker by around February-March next year.
The numbers are in sharp contrast to the demand the company's premium hatchback Maruti Suzuki Swift had seen.
Alto, the Maruti brand synonymous with small cars, introduced the new generation K10 on Thursday, aiming to consolidate its position further amid shrinking demand for hatchbacks. With prices starting at Rs 399,000 and going up to Rs 533,500 (for manual transmission), the new model claims fuel efficiency of 24.90 km per litre. The Japanese car maker, which has been selling 100 Altos every hour for the last 22 years, had discontinued the model in February 2020.
Maruti Suzuki India Limited, the country's largest car manufacturer, on Wednesday unveiled its luxurious and sporty sedan, Kizashi, at an introductory price of up to Rs 17.5 lakh (Rs 1.75 million).
High cost of acquisition due to a variety of reasons, including higher GST than all other major countries, is slowing down car demand in the country and unless the Centre and states take steps to reduce it, the industry is unlikely to experience reasonable growth, according to Maruti Suzuki India Chairman R C Bhargava. Addressing shareholders in the company's Annual Report for 2020-21, he said after the devastating second wave of the coronavirus pandemic hitting the first quarter of FY22, the performance in the next three quarters will largely depend on how effectively people get vaccinated and observe safety protocols.
"It has a special place in our product strategy. Millions of Indians own compact cars. With growing incomes and better lifestyle, many of them want to upgrade to a sedan. But on Wednesday, they are not able to find an entry level sedan that offers style, features and performance. The DZire offers all this, and at an attractive price," Maruti Suzuki India Managing Director S Nakanishi said.
The first diesel car from Maruti Suzuki, Celerio diesel is pitted against Hyundai Grand i10, Ford Figo and Chevrolet Beat.
Maruti cannot make a Rs 1 lakh car and the company engineers say it cannot be done, Maruti Suzuki India managing director and CEO Shinzo Nakanishi said.
The company saw production hit by 10,200 units till yesterday, which translates into a loss of about Rs 510 crore (Rs 5.1 billion). In the morning, shares of Maruti Suzuki India (MSI) were trading 0.43 per cent down at Rs 1,217.50 apiece on the Bombay Stock Exchange.
In the next 2-3 years the company will pump in Rs 4,000 cr in product development, R&D and marketing infrastructure.
MD Shinzo Nakanishi also rules out entering ultra low-cost car segment.
Maruti Suzuki's next offering, the A-Star, a premium hatchback car, will be the first vehicle to be exported from the company's car terminal at Mundra Port, which is expected to be operational by December 2008. A joint venture between Maruti Suzuki and Mundra Port and Special Economic Zone (MPSEZ), the terminal is being set up with an investment of Rs 100 crore (Rs 1 billion).
Maruti Suzuki reported a 41.56 per cent jump in sales for August at 84,808 units. Hyundai Motor India reported a 12.92 per cent jump in domestic car sales at 24,401 units.
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
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.
A drop in value of the rupee against the dollar and other major currencies may hurt Maruti Suzuki, the country's biggest producer of passenger cars, as it is slated to import as much as Rs 2,000 crore (Rs 20 billion) of auto parts in this financial year.
When the first Maruti 800 was introduced in 1983, it was made of almost entirely imported components; in a few years it had been heavily indigenised - although, for years, the older "original" models commanded a premium on the thriving second-hand market.
Maruti's transformation -- if not descent -- to the 'low road' of labour practices stems from growing competitive pressures in the marketplace since the late 1990s.
Maruti Suzuki India on Tuesday became the first Indian automobile company to produce one million cars in a year.
While the company used to report bookings of 4,000-5,000 every day, following the partial lifting of lockdown, in a week, it has received around 6,000.
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.
Suzuki Motor Corporation has already said India would be the global small car development hub outside Japan for other markets, he added. MSI's R&D centre is being developed to be at par with SMC's facility in Japan. It will also have crash test centre.
Currency fluctuation has been affecting margins.
Jimny will be priced between Rs 12.7 lakh and Rs 15.05 lakh.
Finance Minister Pranab Mukherjee on Friday announced raising of excise duty to 12 per cent from 10 per cent at present.
Between January and August 2025, over 65,000 units of the Bolero were sold, making it the third-highest contributor to Mahindra's overall SUV sales. Bolero annually achieves sales of over 1 lakh units.
The company's overseas sales growth was driven mainly by the export of its flagship model A-Star, which clocked sales of over one lakh units till December 2010, within 11 months of launch.
The country's largest carmaker Maruti Suzuki India on Tuesday said its models Swift, Baleno, WagonR, Alto and Dzire have emerged as best selling cars in 2020-21 and the top five models have come from its stable for the fourth consecutive year. Swift with over 1.72 lakh units was at the number one position followed by Baleno with 1.63 lakh units, the company said in a statement. Maruti Suzuki India's (MSI) tall boy WagonR was in the third spot with 1.60 lakh units while Alto and Dzire were at fourth and fifth with 1.59 lakh units and 1.28 lakh units respectively, it added.
"Out of the total exports, A-Star alone will comprise one lakh units while the rest would be other models," Maruti Suzuki India executive officer (marketing) Mayank Pareek told reporters in New Delhi. The company currently has an inventory level of three weeks and is producing more to meet the upcoming festive demands. On the company's diesel-engine plans, Pareek said it will expand the production capacity to 300,000 units per annum by 2010-11 from the existing 2,40,000 units
According to the company, the talks that began on Wednesday morning at 11 am continued through the night and were still going on Thursday morning.
The average discounts on the models, especially petrol, were all-time high during the July-September quarter.
In addition to the showroom discounts that ranged from Rs 12,000 on Maruti 800, Rs 11,000 on Alto and Rs 18,000 on Wagon R and Estillo, it offered an additional discount of about Rs 4,000 to such employees. This year, it has stopped financing the scheme. Instead, it has tied up with Axis Bank that offers financing at 10.75 per cent with repayment periods of three to five years (market rates are currently at 14 -15 per cent).
Company had posted a net profit of Rs. 656.55 crore in the corresponding quarter of 2009-10 fiscal.
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.
With induction of these people, the company's workforce will expand by about 27 per cent to nearly 11,000 employees.
The Mahindra's Scorpio-N becomes the first body-on-frame chassis SUV to secure a five-star Global NCAP rating.
