Car marker leader Maruti Suzuki India is looking at nearly doubling the number of models to 25, including entry into SUV and LCV segments, as it aims a target to sell 3 million cars annually.
The compact SUV's exteriors and fuel efficiency could make it a tough challenger, provided Ford plays its price card well.
Italian carmaker Maserati is targetting India's tier II and III cities, which are proving to be catalysts in spurring demand for super luxury brands, as it looks to strengthen foothold in the country, according to a senior company official. The company, which re-entered India in 2015, has also overhauled its after sales and service support as part of its renewed focus on customer experience. "Maserati has seen a hike in demand in smaller cities although traditionally we enjoyed steady patronage in the metros. "Even though the expansion in terms of physical network presence in these cities depends on our partners," Maserati APAC head Bojan Jankulovski told PTI in an emailed interview.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL) was down 1.06 per cent in trade on margin pressures in Q1FY24, mixed market share outlook, and earnings impact due to the buyout of Suzuki Motor Gujarat. While MSIL has decided to terminate the contract manufacturing agreement and acquire Suzuki Motor Gujarat, the quantum of payment and mode (cash/equity swap) has not been decided. If the cash option is opted for, there would be a 3.5-4 per cent hit to MSIL's FY25 earnings per share as the deal is expected to be completed by the end of the current financial year.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
Ola Electric will roll out its complete offering of electric scooters and motorcycles in each segment of the market - premium, mass premium, and economical - in the next 12 months in a bid to push for a near-full conversion of the two-wheeler market to electric in three years. According to Bhavish Aggarwal, founder and CEO of Ola Electric, "ICE (internal combustion engine) products will fall off a cliff." He also says the company is aiming to become profitable next year.
Passenger vehicle wholesales in India touched a record high of 42,18,746 units in the financial year 2023-24, registering a year-on-year growth of 8.4 per cent on the back of robust demand for utility vehicles, industry body SIAM said on Friday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), the overall passenger vehicle dispatches stood at 38,90,114 units in fiscal year 2022-23. Two-wheeler sales were up 13.3 per cent last fiscal at 1,79,74,365 units, as compared to 1,58,62,771 units in the financial year 2022-23.
With increased consumer awareness and government support in place, it is the opportune time to enter the electric passenger vehicle segment, Mahindra Group Chairman Anand Mahindra said on Monday. With an eye on gaining leadership in the electric four-wheeler segment, the Indian auto major announced that it will launch five new electric Sports Utility Vehicles (SUVs) for both domestic and international markets, with the first four expected to hit the road between 2024 and 2026. The company would introduce the first of the five e-SUVs towards the end of 2024, starting with the Indian market.
Hyundai Creta has emerged as one of the best looking four wheelers and certainly the best looking compact SUV in 2015 and that has worked remarkably in their favour as far as sales is concerned.
Maruti Suzuki India (MSIL) does not anticipate growth in the small car segment because people continue to find these vehicles unaffordable, chairman R C Bhargava said on Wednesday. He said the market had clearly shifted towards the sport utility vehicle (SUV) segment and the company will go in the same direction. The domestic sales of utility vehicles jumped in India by 34.54 per cent to about 2 million units in FY23.
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.
Wipro was the biggest gainer in the Sensex pack, rising 4.34 per cent, followed by HCL Tech, UltraTech Cement, Tata Steel, Tech Mahindra, NTPC, Infosys, Power Grid, Tata Consultancy Services and State Bank of India. Mahindra & Mahindra, ITC, Axis Bank, Nestle, Kotak Mahindra Bank and Asian Paints were among the laggards.
With Kona catering for the high-end market, the South Korean automobile conglomerate wants to introduce a product in the EV segment to address the mass segment.
After a brief lull during the pandemic, there is a strong revival in luxury car sales, bolstered by more launches across price bands, replacement demand, ban on old diesel vehicles in the NCR, and 'revenge buying'.
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General Motors India (GMI) on Monday launched a variant of its sports utility vehicle 'Chevrolet Forester' to tap the growing SUV market in India.
The new tax regime has also been fuelling sale of SUVs, particularly the compact SUVs
The new model will be available in three engine options of 2-litre petrol, 2-litre diesel and 3-litre diesel
The festive season will mean business for the steel industry as it is the time when automotive and consumer appliance companies bump up demand to prepare for higher sales, experts have said. Ranjan Dhar, chief marketing officer at ArcelorMittal Nippon Steel India (AM/NS India), said that bookings by auto and consumer appliance industries are 20 per cent higher ahead of the festive season compared to last year. "While this could be for a couple of months, it could normalise later at approximately 10 per cent," he said.
The price is expected to be around Rs 10 lakh, at par with competition.
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
Upcoming 2012 Delhi Auto Expo will be special this time.
With Onam and Raksha Bandhan just around the corner, the festival season is ready to kick off in full swing. As people embrace the celebratory spirit, companies anticipate a surge in sales this year. Consumer durables firms are expecting strong growth of 40-50 per cent in the premium segment during the upcoming season. Appliance makers also foresee increased demand for cooling appliances - refrigerators and air conditioners - which were impacted by unseasonal rainfall.
If there is a genuine SUV in the market in the Rs 15 lakh price bracket, it is the Tata Safari Storme that offers every bit of an SUV feel.
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.
Mercedes-Benz plans to sell more compact cars.
Close to 50 models were launched in India in the past 12 months, but companies have not been able to realise their potential due to the pandemic.
Has Volvo Cars set the cat among the pigeons? Yes, the compact luxury SUV segment in India will not be the same with the entry of the XC40, says P Tharyan.
Tata Motors plans to set up separate sales network for its electric passenger vehicles in current fiscal year as it looks to give differentiated experience to the buyers opting for the environment-friendly models, according to a top company official. The Mumbai-based auto major, which on Thursday introduced all-new versions of its Nexon EV and Nexon (internal combustion engine), said it will start experimenting with new outlets in some of the cities where EV volumes have gone up. "We'll have to separate them (sales outlets for EVs and ICE) given that we have different requirements of customers and also a growing portfolio (of EVs)" Tata Motors Passenger Vehicles managing director Shailesh Chandra told PTI in an interaction.
The 2016 Audi Q7 makes perfect sense and turns out to be a very good contender in the premium luxury space in India.
Ssanyong has invested 700 billion won since its M&A (with Mahindra) and would put one trillion won ($920 million) in next three years.
With India leading the small SUV market and attracting majority of investments from Ford Motor Company, the country is set to become a hub for the US automobile major, a top official said.
The company had launched the Yaris in May 2018 at a price range of Rs 8.75 lakh and Rs 14.07 lakh (ex-showroom), competing with the likes of Honda City, Hyundai Verna and Maruti Suzuki Ciaz. However, it didn't have a robust response in the market, clocking a cumulative wholesales of around 19,800 units.
Maruti will launch its first electric vehicle (EV) in the next financial year (FY24), and will roll out six EVs in the country by FY30, the automaker's parent firm Suzuki said on Thursday.
With Mitsubishi pulling the plug on it the days of the Pajero maybe over, but nobody who ever owned one will forget it. Some even learnt life-long lessons from it, says Pavan Lall.
Maruti Suzuki's contribution to the sales revenue of its Japanese parent, Suzuki Motor Corporation (SMC), has touched the highest-ever figure during April-December of FY23. According to SMC's results declared on Tuesday, Maruti's share in its global revenues jumped from 33.42 per cent in April-December of FY22 to 40.93 per cent in the corresponding period of FY23.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
South Korean automaker Kia Motors says it will look to be a premium only brand and stay away from the entry level segment like sedans and hatchbacks. Hardeep Singh Brar, the company's India Vice-President and Head (Sales and Marketing), said that customers have accepted Kia as a premium brand. In the mass market Kia is considered to be the most premium brand. "Customers like the features and they are willing to pay for them. So, we have consciously decided that if customers like us a premium brand, let's stick to that. It is a conscious decision to stay premium and operate in that segment of the mass market," Brar said.
Maruti recorded a 13.12% year-on-year surge in average revenue earned per car in 2023 compared to M&M's 7.56%, Hyundai's 6.76% and Tata Motors' 1.88%.
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