There is another common trend among these three players - they are all registering a volume decline in a market that is expanding at over 8 per cent
Decision comes weeks after the company pulls out of a joint venture with Renault and Nissan for a facility there. Commercial production at Chakan is expected to start in two years, about the same time Renault and Nissan will launch production at the Chennai unit. Pawan Goenka, president (automotive sector), M&M, told Business Standard that the company is committed to invest in the south, where a new plant will be set up near Chennai.
Nissan will launch Datsun brand in Indonesia, Russia and South Africa following the India launch.
The government on Friday approved 32 foreign direct investment proposals worth Rs 181.16 crore (Rs 1.81 billion).
Nissan Motor Co has entered into an eight-year sponsorship agreement with the International Cricket Council (ICC), a company executive said, in a bid by the Japanese car maker to boost its small market share in cricket-crazy India.
Carlos Ghosn, the iconic CEO of Nissan Motors and Renault, is on a whistle-stop visit to India on Monday to finalise a joint venture and small-car blue-print with India's second-largest two-wheeler maker Bajaj Auto. Renault, Nissan and M&M also have a three-way equity tie-up to make passenger vehicles in Chennai, for which the facility is yet to be built.
Maruti's sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno went up by 9.9% to 45,579 units
The price increase is marginal and the company is confident that the customers will appreciate its efforts to offer globally renowned products at affordable prices.
The Nissan Kicks does tick all the right boxes as a convincing Hyundai Creta competitor.
Car sales are experiencing a challenging phase with around Rs 60,000 crore worth of inventory lying unsold with dealers.
Every year, carmakers announce at the end of November or December their plans to increase prices of their vehicles by January.
Sony on Monday said that British-born Sir Howard Stringer will take over from Nobuyuki Idei as group chairman and chief executive of the Japanese giant.
South Korean auto giant Hyundai has inaugurated its first $1.1 billion factory in the North American market.\n\n
The car is a conventional hatchback with state-of-the-art aerodynamics.
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The compact segment makes up for nearly 25 per cent of car sales in India.
Naomi Osaka's total is the most ever earned by a female athlete in a 12-month period.
Leading automakers Maruti Suzuki India, Hyundai and Tata Motors reported a double-digit increase in dispatches to dealers in April as the demand remained robust especially for the sports utility vehicles. The country's largest car maker Maruti Suzuki India (MSI) said its domestic passenger vehicle wholesales rose 13 per cent to 137,320 units last month as against 121,995 units in April 2022. Sales of mini cars, comprising Alto and S-Presso, fell 18 per cent to 14,110 units as compared with 17,137 units a year ago.
The Nissan Terrano is an upmarket urban SUV which is single-handedly responsible for bringing some much needed footfall to Nissan showrooms
Auto majors, including Maruti Suzuki India, Hyundai and Tata Motors, on Sunday reported high double-digit growth in their domestic passenger vehicle sales in July riding on stabilisation of macro-economic factors and better consumer sentiments. Similarly, Honda, Nissan, MG Motor and Skoda also reported healthy growth in their sales last month leveraging on improved market mood amid prevailing lower coronavirus infection rate, despite supply constraints of semi-conductors. The country's largest carmaker Maruti Suzuki India's (MSI) domestic sales increased by 39 per cent to 1,41,238 units last month as against 1,01,307 units in July 2020, the company said in a statement.
A number of companies, including Maruti Suzuki, Renault and Nissan, are giving gold coins to buyers who book cars by the month-end. There are other benefits as well, reports Ajay Modi.
In its first official engagement with the Indian government, Elon Musk-led Tesla and other global automotive (auto) manufacturers sought clarification on the new electric vehicle (EV) policy, specifically regarding investment guidelines and the timeline for the domestic value addition (DVA) requirement. Officials who attended the meeting told Business Standard that the original equipment manufacturers (OEMs) tried to understand whether the complete investment would be made within three or five years and the duration they would have to achieve the 50 per cent DVA. "The consultation meeting was convened to address queries from auto OEMs.
General Motors aims to grab at least 5 per cent market share in India within the next decade.
Reflecting the woes of the Indian automobile industry, the country's car exports remained flat at 550,466 units in 2013-14, during which domestic sales fell for the second consecutive year.
Maruti Suzuki is offering cash discounts ranging from Rs 5,000 on its hatchback Celerio to Rs 35,000 on entry level Alto800.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Schools closed for a day, crops damaged; more downpour on cards
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
After a long delay, Thailand opened its twice-postponed Bangkok international motor show to the public as coronavirus restrictions eased, with nearly all attendees wearing masks and face shields.
Let alone a discount, they might not even get the model, variant or colour of choice in BS-IV-compliant vehicles.
While the share of diesel vehicles sales in the overall passenger car industry has already fallen sharply, sales of CNG vehicles have shown a compound annual growth rate of 15.5 per cent over the past five years.
Tata Motors, Ford, Nissan, Maruti Suzuki, Toyota Kirloskar, BMW, Renault and Isuzu have also announced price hike from next month citing impact of increase in commodity prices and foreign exchange rates.
India's flagship motor show Auto Expo 2023 kicked off on Wednesday with the global unveiling of Suzuki Motor Corporation's concept electric SUV 'eVX' which is slated to hit the market by 2025. The company's Indian arm Maruti Suzuki India is among the major manufacturers participating in the show that has returned after three years. The Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation (SMC), Japan. It will be powered by a 60 kWh battery pack offering up to 550 km of driving range on single charge.
The new Duster will go head-to-head with popular models like Hyundai Creta, Kia Seltos, Volkswagen Taigun, Skoda Kushaq, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, MG Astor, etc in the highly competitive mid-size SUV segment.
From Maruti to Honda, every big manufacturer has lined up launches in the domestic market.
Datsun GO NXT Limited Festive Edition offers add-ons worth Rs 20,000 at a minimal price increase of just Rs 5,000
Tata Motors has halved the volume outlook for its UK subsidiary Jaguar Land Rover Automotive (JLR) and warned of lower earnings as it sees the semiconductor shortage deepening in the September quarter of the current financial year, according to a notification issued by the company to the stock exchanges on Tuesday. The announcement caught investors unawares. They were hoping for a quicker recovery. Tata Motors' stock tanked 13 per cent (on July 6) from the day's high of Rs 358.10 and hit the lower circuit (Rs 311.45) in intra-day trades.
Manufacturer Nissan plans to get aggressive with brand communication and increase the number of customer touchpoints through showrooms, experience zones and other initiatives.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
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