The company, which currently sells a range of vehicles from Alto to S-Cross, said it has taken the decision to hike prices due to an increase in input costs. The weighted average price rise, with effect from April 18, in ex-showroom prices (New Delhi) across models is 1.3 per cent, it added.
Auto manufacturers have focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs.
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
From the 30 Sensex firms, Bajaj Finance, Reliance Industries, Tata Steel, JSW Steel, Tech Mahindra, Tata Motors, Kotak Mahindra Bank and Maruti were the biggest laggards. Reliance Industries Ltd, India's most valuable company, on Monday reported a 5 per cent fall in the July-September quarter net profit as weak oil refining and petrochemical business hurt operational performance. ICICI Bank, Bharti Airtel, Asian Paints, Adani Ports, UltraTech Cement and HCL Technologies were among the gainers.
According to intelligence reports, the terrorists entered the Akhnoor region through the Battal area, and a wireless set seized from them confirmed their association with the JeM.
The country's largest carmaker Maruti Suzuki India is neither shifting investments nor jobs from Haryana to Gujarat by shifting production of its compact sedan Dzire, company chairman RC Bhargava said on Tuesday. The company is maximising the efficiency of production at its two plants at Haryana and the parent Suzuki's Gujarat plant, keeping in mind the demand of its multiple models.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Automobile exports from India in the first six months of the current fiscal year rose 14 per cent year-on-year, led by gains in shipments of passenger vehicles and two-wheelers. According to Siam data, the overall exports in the April-September period stood at 25,28,248 units, up 14 per cent as compared with 22,11,457 units in the year-ago period. "Key markets like Latin America and Africa, which had slowed down for various reasons, have bounced back.
Japanese agri-equipment firm Kubota is taking cues from Suzuki Motor's strategy to establish India as its global production hub, according to a report by Nikkei Asia. The acquisition of Escorts in 2022, leading to the rebranding as Escorts Kubota, a prominent tractor manufacturer in India, which held the fourth-largest global market share, offered Kubota a crucial foothold in the Indian and international markets, complementing its strengths with Escorts' established presence.
Prices of various car models -- ranging from entry-level hatchbacks to high-end luxury offerings -- are set to rise as automakers have announced price hikes with effect from January. Carmakers cite an increase in input costs and operational expenses as the main reason to implement price increases from the next month. Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units.
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.
Adani Ports was the biggest loser in the Sensex pack, declining 1.37 per cent, followed by ITC, Bharti Airtel, NTPC, Maruti, Asian Paints, Sun Pharma, Power Grid, Hindustan Unilever and Larsen & Toubro. In contrast, Bajaj Finserv, Bajaj Finance, IndusInd Bank, Tata Steel, Axis Bank and Tech Mahindra were among the gainers.
Maruti Suzuki India is eyeing a leadership position in the SUV segment as it continues to add new products across various sub segments, a top company official said on Wednesday. The country's largest carmaker has bolstered its presence in the high volume entry and mid level SUV segments with new Brezza and all new model -- Grand Vitara. "In every segment except SUV, we are the market leader by a distance. "It is only in the SUV that we are behind, so we need to catch up. Clearly, we have to become number one in the SUV space also," Maruti Suzuki India MD and CEO Hisashi Takeuchi said in an interaction on the sidelines of the global unveiling of Grand Vitara.
Benchmark indices Sensex and Nifty climbed to fresh all-time highs on Thursday driven by buying in auto shares amid a sharp rally in Asian markets. The BSE Sensex jumped 666.25 points or 0.78 per cent to settle at an all-time high of 85,836.12. During the day, it reached a record intra-day peak of 85,930.43, surging 760.56 points or 0.89 per cent.
Prime Minister Narendra Modi and Congress leaders Sonia Gandhi and Mallikarjun Kharge were among the top leaders who paid homage to former prime minister Manmohan Singh at his home in New Delhi on Friday.
Appellate tribunal NCLAT on Monday stayed the Rs 200 crore penalty imposed by the Competition Commission on Maruti Suzuki but directed the car maker to deposit 10 per cent of the total amount within three weeks. The amount has to be deposited with the Registrar of the National Company Law Appellate Tribunal (NCLAT). A three-member NCLAT bench stayed the demand notice issued on October 27 to the car maker, subject to the condition of depositing 10 per cent of the penalty amount.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 per cent with immediate effect. In a regulatory filing, the company noted that it has taken the decision to hike prices due to an increase in various input costs. The weighted average price rise in ex-showroom prices (New Delhi) across select models is 1.9 per cent, it added. This is MSI's third price hike this year.
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.
From the 30 Sensex firms, NTPC, Nestle, Titan, Kotak Mahindra Bank, Maruti, Hindustan Unilever, Bharti Airtel and HDFC Bank were the biggest gainers. HCL Technologies, Tata Consultancy Services, Adani Ports, Larsen & Toubro, JSW Steel, State Bank of India, Tech Mahindra and Bajaj Finance were among the laggards from the pack.
While the deputy CM led a massive nomination rally and waved to the crowds from an open vehicle, the process for Yugendra Pawar was low-key, with just NCP-SP supremo Sharad Pawar and Baramati MP Supriya Sule for company apart from a few supporters.
Maruti is sticking to this strategy at a time when rival Hyundai is looking to make the most of the monopoly it will have in the compact diesel segment from April 1, 2020, when the BSVI emission norms kick in. The market leader's confidence stems from the rapid shift in favour of petrol in the PV segment. For newer models such as MG Hector and Seltos, nearly 75 per cent bookings are for petrol variants, Kia has 55 per cent from petrol variants. The change in customer preference from diesel variants to petrol has happened quickly over the past few years.
The country's largest carmaker Maruti Suzuki India (MSI) witnessed a 3 per cent drop in production last month. In a regulatory filing, the auto major reported total production of 145,560 units in November compared to 150,221 units in November 2020. "The shortage of electronic components had a minor impact on the production of vehicles during the month," it noted.
Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, has received capital markets regulator Sebi's approval to float an initial public offering (IPO), people familiar with the development said on Wednesday. This development marks a significant milestone for the Indian industry, as it is the first automaker initial share-sale in over two decades, following Japanese automaker Maruti Suzuki's listing in 2003.
From the Sensex stocks, Maruti Suzuki India, Tata Motors, JSW Steel, Larsen & Toubro, Tata Steel, Mahindra and Mahindra, Tata Consultancy Services, Tech Mahindra, HCL Technologies and Infosys were the laggards. HDFC Bank, Sun Pharmaceuticals, Kotak Mahindra Bank, Nestle India and Asian Paints were among the gainers.
Benchmark equity indices Sensex and Nifty pared early gains to settle lower on Wednesday due to late selling in index major Reliance Industries, ITC and HDFC Bank even as the RBI took the first step towards a rate cut in its monetary policy review. Erasing its early gains, the 30-share BSE Sensex fell 167.71 points or 0.21 per cent to close at 81,467.1. During the day, it surged 684.4 points or 0.83 per cent to hit an intra-day high of 82,319.21.
On the Sensex chart, Bajaj Finserv, Maruti, Larsen & Toubro, Bajaj Finance, Infosys, Axis Bank and ICICI Bank were the biggest gainers. Hindustan Unilever, JSW Steel, Titan, NTPC and Tata Motors were among the laggards.
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a consolidated net profit of Rs 475 crore for the first quarter ended June 30. The auto major had posted a consolidated net loss of Rs 268 crore in the April-June quarter of 2020-21. It noted that during the first quarter its sales and production were adversely impacted due to the second wave of the COVID-19 pandemic.
The country's largest carmaker Maruti Suzuki India on Monday said it has hiked prices of hatchback Swift and CNG variants of other models by up to Rs 15,000. The price change for Swift and all CNG variants is owing to an increase in various input costs, Maruti Suzuki India said in a regulatory filing.
From the 30 Sensex firms, Mahindra & Mahindra, JSW Steel, Maruti, Tata Steel, Larsen & Toubro, ICICI Bank, Power Grid, Nestle, Bharti Airtel and Adani Ports were the biggest gainers. Tata Consultancy Services emerged as the only laggard.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
Apart from physical stores, the company operates 2,700 digital touch points in the form of web pages, which is gaining good traction from tier-II and III centres.
Among the 30 Sensex firms, Tata Motors jumped over 4 per cent, followed by Bajaj Finserv, Bajaj Finance, HCL Technologies, ITC, Reliance Industries, Tech Mahindra, Maruti and State Bank of India. Reliance Industries climbed nearly 2 per cent after Mukesh Ambani, chairman and managing director of the firm, said the board of the company will meet on September 5 to consider issuing bonus shares in the ratio of 1:1.
Most of the Sensex firms settled in the positive territory. Mahindra & Mahindra, Tata Motors, Tech Mahindra, JSW Steel, State Bank of India, HCL Technologies, Reliance Industries and Infosys were the biggest gainers. Kotak Mahindra Bank and Maruti were the laggards.
Among the 30 Sensex firms, HCL Technologies, NTPC, Bajaj Finserv, Tech Mahindra, JSW Steel, Titan, Mahindra & Mahindra, Tata Steel, Larsen & Toubro and Tata Consultancy Services were the biggest gainers. Kotak Mahindra Bank, IndusInd Bank, Maruti and Hindustan Unilever were among the laggards.
The name of the country's most popular car brand, Maruti Udyog Ltd, has been changed to 'Maruti Suzuki India Ltd' with effect from September 17.
Former Indian Prime Minister Manmohan Singh passed away at the age of 92 on Thursday. He will be given a state funeral with full state honors at Nigambodh Ghat on Saturday. Singh served as Prime Minister from 2004 to 2014 and was known for his role in India's economic reforms. Leaders from across the political spectrum paid their respects to the departed leader, highlighting his contributions to the nation.
First off the block will be a new multi-purpose vehicle which is being co-developed with Toyota - Suzuki's alliance partner. The model will also wear a Toyota badge.
The list clearly shows the dominance of Maruti and Hyundai in the Indian passenger vehicle market.
Among Sensex shares, State Bank of India, NTPC, UltraTech Cement, Mahindra & Mahindra, Bajaj Finance, Tata Motors, Maruti and ITC were the biggest winners. On the other hand, Asian Paints, Tata Steel, Axis Bank, JSW Steel, Tech Mahindra and Tata Consultancy Services were among the laggards.
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.
