The move will result in around 25 per cent reduction in overseas shipments from the company's Chennai plant this year at 190,000 units compared to 253,000 units last year.
Customers have started to factor in the narrowing gap between petrol and diesel and the premium that needs to be paid for a diesel vehicle.
The RBI on Thursday lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
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.
While sales of Maruti's compact segment grew, its mini segment witnessed a slump
Ruural markets contribute a significant chunk of SUV sales and there was a slowdown in demand from semi-urban and rural areas.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
Delhi, labelled the world's most polluted city in a 2014 World Health Organization survey, alone makes up about 7 per cent of total Indian auto sales.
Maruti Suzuki is the big exception, with double-digit surge in volume
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
India, is home to 15% of all traffic fatalities.
Maruti Suzuki India, country's largest carmaker on Thursday reported 3.7 per cent rise in total sales in September.
The National Company Law Appellate Tribunal on Wednesday declined to grant interim relief to Google seeking a stay on competition watchdog CCI's penalty of Rs 936.44 crore on the tech giant for abusing its dominant position with respect to Play Store policies. The appellate tribunal has directed Google to deposit 10 per cent of the fine before its registry in the next four weeks. A two-member bench comprising Justice Rakesh Kumar and Alok Srivastava issued notices to the Competition Commission of India (CCI) and other respondents and posted the matter for hearing on April 17, 2023.
Sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno increased by 4.1 per cent to 50,362 units
Prices across all models starting from Eon to Santa Fe has been hiked in the range of Rs 15,000 to Rs 127,000
'The Governor is pleased to appoint Justice High Court, Allahabad (retd) Pradeep Kumar Srivastava as a single-member Commission of enquiry with Headquarters at Lakhimpur Kheri'
Top 10 vehicles, value-wise, is dominated by the two players in the market, Maruti Suzuki & Hyundai
Dealers have stocked up vehicles in the run-up to a price hike, which is expected to be announced by leading players some time this month.
Hyundai Motor India Ltd (HMIL) on Thursday said it will hike prices by up to Rs 20,000 across models, except the newly launched compact car Grand i10, from October 1 to offset the impact of rupee depreciation and rising input costs.
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
Hyundai sold 6,054 units of the new Verna in September, against 6,010 units of the Honda City and 5,603 units of the Maruti Ciaz.
Records of millions of car owners are mined to generate leads, pitch sales and get feedback to develop vehicles, says Ajay Modi.
Price is no longer king. Maruti now has a new strategy to score over rivals.
The models from Hyundai and Maruti, which might go on sale in October 2018 and February 2019, respectively, are set to revive a segment that had lost sheen to the compact SUV segment, lately
Tata now occupies the fourth slot with the incremental volumes from the Tiago
An application has been filed by advocates Shiv Kumar Tripathi and CS Panda in the suo motu case registered on a letter petition sought setting aside of the order dated February 10 of the Lucknow bench of the Allahabad high court.
Strong festive demand in October helped carmakers register a seven-per cent volume growth in the domestic market, even as the largest player, Maruti Suzuki, reported low single-digit growth.
The first major pricing error was made by market leader Maruti Suzuki when it launched its first crossover the S Cross
One litre of petrol now costs Rs 64.76 while the diesel price is Rs 54.70 a litre in Delhi
Fuel price hike will impact demand going forward.
The Baleno is among the top selling cars with unserviced bookings of 55,000 units.
New campaigns rev up their marketing pitch, while new challengers such as Tata Motors with the Zest promise to put up a spirited fight
CBI officer V K Shukla, who is probing the death of Jharkhand Judge Uttam Anand, is among 15 officers of the agency awarded the 'Union Home Minister's Medal for Excellence in Investigation' for the year 2021, officials said Thursday.
General Motors India Vice President P Balendran termed the decision as a positive move for the overall economy.
Companies are using additional service workforce and offering part waivers on charges to affected car owners.
Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and tourism have been the worst-hit as Covid cases remain high, leaving state governments with no option but to curtail mobility and economic activity.
Car sales likely to touch record 3-mn mark by the end of March.
Hyundai, which is also toeing Maruti's lines, said special schemes are offered to engage the cab aggregators, including annual-maintenance-contract packages and extended warranty.
December is a month of high retail sales for cars, as companies and dealers push stocks to clear inventories
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