Car maker Maruti Suzuki India Ltd on Monday reported a 15.75 per cent jump in the total sales in May at 79,872 units as against 69,001 units in the same month last year.
MSI's exports, however, fell by 13 per cent to 10,554 units.
The order, which came on Monday, stated that revenue authorities cannot split the agreement when the parties to the agreement considered the royalty and technical knowhow as a single package.
The Fazer V2 is designed to rival the Honda CB Trigger, TVS Apache 160 and the recently launched Suzuki Gixxer, says Faisal Ali Khan.
Sales for the same month last year were at 79,872 units.
Automobile retail sales in India rose 11 per cent in September as better supplies from manufacturers enabled dealers to ramp up customer deliveries amid the ongoing festive period, Federation Of Automobile Dealers Associations said on Tuesday. Last month, total retail sales stood at 14,64,001 units as compared to 13,19,647 units in September 2021. FADA noted that October is expected to witness even better overall sales due to the festive season further gathering steam.
In March it reported an increase of 38.85 per cent in sales in the domestic market to 110,424 units from 79,530 units.
The company's Ritz, launched in May, was the first car in India to conform the Bharat Stage-IV emission norms.
The company is voluntarily undertaking a recall for WagonR (1 litre) manufactured between November 15, 2018, and October 15, 2019, and Baleno (petrol) manufactured between January 8, 2019, and November 4, 2019, MSI said in a regulatory filing.
Taking exception to an advertisement by Maruti Suzuki India in November last year in one of the newspapers published in Chandigarh, HSCI's notice said a comparison between SX4 and the new Honda City was made, which had 'given completely false figures of the new Honda City in order to show superiority of your product SX4.' The comparison relates to height and length of the new Honda City as well as the 'absence' of integrated stereo systems.
Sales for the same month previous year were at 84,804 units, Maruti Suzuki India said.
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.
"Our sales have been growing since December 2008. December 2008-July 2009 are great months", Maruti Suzuki India chairman R C Bhargava told reporters in Chennai. He hoped that the next two-three months would yield a double digit growth.
The company's overseas sales growth was driven mainly by the export of its flagship model A-Star, which clocked sales of over one lakh units till December 2010, within 11 months of launch.
Equity indices slipped in the negative territory on Wednesday after a two-day breather, with the BSE Sensex tumbling 709.54 points following weak trends in global markets. Unabated foreign fund outflows also played spoilsport for the bourses. The 30-share BSE Sensex tanked 709.54 points or 1.35 per cent to settle at 51,822.53. During the day, it declined 792.09 points or 1.50 per cent to 51,739.98.
While commercial vehicles are expected to benefit from strong replacement demand, the two-wheeler and tractor segments are expected to gain from a recovery in the rural economy.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
Maruti Suzuki India on Thursday launched a limited edition version of its popular model WagonR, named Avance, with prices starting at Rs 430,000.
The company has been hit hard, not only by strike of its own workers, but also due to the supply shortage of engines and transmissions from Suzuki Powertrain India Ltd.
'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.'
Suzuki Motorcycle India is planning to open 100 dealer outlets across the country by the end of June this year.
Maruti has committed Rs 5 crore towards the programme.
Watch the flash mob that take over Auto Expo 2018.
"Out of the total exports, A-Star alone will comprise one lakh units while the rest would be other models," Maruti Suzuki India executive officer (marketing) Mayank Pareek told reporters in New Delhi. The company currently has an inventory level of three weeks and is producing more to meet the upcoming festive demands. On the company's diesel-engine plans, Pareek said it will expand the production capacity to 300,000 units per annum by 2010-11 from the existing 2,40,000 units
Carmakers Mercedes-Benz, Audi, Renault, Kia India and MG Motor on Wednesday announced plans to hike vehicle prices from January to partially offset the impact of rising input costs. They join the likes of market leader Maruti Suzuki India and Tata Motors, which have also made the year-end announcements to raise prices from next month. Audi India said it will increase prices of its entire model range by up to 1.7 per cent, while Mercedes-Benz India noted it will hike the prices by up to 5 per cent from January 1.
The auto-maker's total headcount is currently 7,200. "We plan to have a total employee strength of 7,350 by the year-end," Maruti Suzuki India Managing Executive Officer Administration (HR, Finance and IT) S Y Siddiqui said.
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.
Maruti Suzuki India managing executive officer (production) M M Singh said that although commodity prices had come down, the company was still 'struggling with (high) steel prices.' By 2010, Maruti plans to produce one million units from its two plants at Gurgaon and Manesar in Haryana.
The company had posted a net profit of Rs 243.13 crore (Rs 2.43 billion) in the corresponding quarter of 2008-09 fiscal, Maruti Suzuki India told the Bombay Stock Exchange.
Continuing its decline for the third day on Friday, the BSE gauge plummeted 1,214.96 points or 2.20 per cent to 53,887.72 during the day. It settled at 54,333.81, a decline of 768.87 points or 1.40 per cent.
The country's largest car maker, Maruti Suzuki India, on Thursday said that "Tata Nano" may have a marginal impact on the sales of its entry level small car Maruti 800 but ruled out cutting its price.
The A3 segment (Swift Dzire and SX4 sedans) sales grew by 36.5 per cent to 8,995 units in January 2010.
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.
The recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata
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.
Sales growth of entry-level cars or hatchbacks like WagonR and Alto have seen a decline during the past few years due to changing consumer preference. Maruti Suzuki chairman R C Bhargava had on October 28 said that he does not expect hatchback unit sales to grow in the fourth quarter (Q4FY23) or in the next fiscal year.
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
Maruti Suzuki reported a 41.56 per cent jump in sales for August at 84,808 units. Hyundai Motor India reported a 12.92 per cent jump in domestic car sales at 24,401 units.
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.
The country's largest car maker, Maruti Suzuki India Ltd, on Wednesday reported a 22.63 per cent jump in its sales at 75,109 units in June against 61,247 units in the same month last year.
