The government has initiated the process of selling all its holding in Maruti Udyog Limited to raise more than Rs 2500 crore (Rs 25 billion).
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
Expressing solidarity with agitating Maruti Suzuki workers, about a hundred protesters from various trade unions staged a demonstration outside Haryana Bhawan on Thursday, seeking the government's intervention for reversing the suspension and dismissal of workers by MSI.
The prices of the three petrol variants of the WagonR range between Rs 3.23 lakh (323,000) and Rs 3.72 lakh (372,000).
JSW Steel (3.37 per cent), Tata Steel (3.33 per cent), Maruti (3.24 per cent), Power Grid (3.07 per cent), IndusInd Bank (2.95 per cent), Bajaj Finance (2.12 per cent) and Tech Mahindra (2.22 per cent) were among major gainers. On the other hand, Ultratech Cement, Sun Pharma, Nestle and L&T were the losers.
The company has adopted a smart move here by not pulling out the original Swift Dzire.
The anniversary variant will compete with Chevrolet Enjoy and the Mahindra Xylo H-Series.
The company is setting up a diesel engine plant at Gurgaon, investing close to Rs 1,700 crore.
The recall is only for the diesel variants of the three models. Out of the total, 55,938 units are of old Dzire, 12,486 units of old Swift and 1,131 units of Ritz, which were manufactured between March 8, 2010 and August 11, 2013, the company said.
Maruti Udyog Ltd on Thursday announced that it would buyout Suzuki in Maruti Suzuki Automobile India Ltd and merge the subsidiary into itself.
Acting as a dampener ahead of the festive season, Maruti Udyog Limited today effected a 0.2-1 per cent price hike in all its models except Swift, due to an increase in input costs including freight costs.
The Baleno is among the top selling cars with unserviced bookings of 55,000 units.
Concerned over sales growth coming mainly from two of its models - Dzire and Swift - country's largest carmaker Maruti Suzuki India said unless its other products contribute equally the company could face problems in the long-term.
With sentiment for the automotive (auto) sector turning positive, stocks of two-wheeler auto majors have been hitting their 52-week highs. Hero MotoCorp, Bajaj Auto, TVS Motor Company, and Eicher Motors recently reached their yearly highs on strong sales in the festival season and the expectation of faster growth rates ahead. Since the start of this month, listed two-wheeler majors have delivered returns in the 12-17 per cent range, compared to the 7 per cent gains for the S&P BSE Auto Index and 3 per cent for the benchmark S&P BSE Sensex.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Under a new industrial relations deal, the worker's basic right to a living wage and decent working conditions, as well as the right of association and collective bargaining, must be respected and made effective.
According to industry sources, the company has stopped its production of the current SX4 model in order to change engine, which would be in compliant with the Bharat Stage-IV norms.
Korean auto company Hyundai has used the findings and comments made by European auto magazines and auto experts to show Maruti's newly launched hatch-back Ritz in poor light. Hyundai, in a web advertisement for its successful hatch-back i10, has made direct comparisons between the model and Maruti Ritz, using strong negative comments given by automotive experts.
In May, MSI recorded domestic sales at 89,478 units, compared to 93,519 units in the year-ago period, registering a fall of 4.32 per cent.
Maruti Suzuki India on Thursday launched a limited edition version of its popular model WagonR, named Avance, with prices starting at Rs 430,000.
This will be the company's third UV for the Indian car market.
Unlike other Maruti cars that have seen the light of day, the Ciaz has the roomiest cabin till date
MSI's exports increased by 54.34 per cent to 14,386 units in January, from 9,321 units in the year-ago period.
The Maruti Udyog Ltd board has approved a proposal to introduce a voluntary retirement scheme for employees of the company.
Workers across Suzuki Motor Corporation's three subsidiaries in the country are standing firm on their decision to continue an indefinite sit-in strike at the company's Manesar facility.
From the Sensex pack, Mahindra & Mahindra emerged as the biggest gainer, climbing nearly 5 per cent. Power Grid, Tata Motors, Reliance Industries, NTPC, Axis Bank, Nestle, Kotak Mahindra Bank, Asian Paints and Wipro were among the other major gainers. Maruti, HCL Technologies, Bajaj Finance, IndusInd Bank, Infosys and Tata Steel were among the laggards.
From the Sensex pack, ITC, Bajaj Finserv, Kotak Mahindra Bank, Bajaj Finance, Axis Bank, HCL Technologies, Wipro, UltraTech Cement, Maruti and Infosys were the biggest gainers. Tata Steel, Tech Mahindra, Nestle, Larsen & Toubro, Tata Motors and Titan were among the laggards.
Labour Minister Shiv Charan Lal Sharma visited Gurgaon on Wednesday to meet senior department officials to decide on the likely course of negotiations.
Set to be unveiled at the Auto Expo in New Delhi, it is likely to be priced below Rs 400,000, and will come with air-conditioning and the option to choose from six colours.
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.
The company's earlier highest for total and domestic sales stood at 1,21,952 units and 1,10,424 units respectively in March 2011.
The company has sold over 12 lakh models of this car till date.
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