While MSI's price cuts range between Rs 8,502 and Rs 30,984 across its models, Hyundai has slashed prices by between Rs 10,000 and Rs 135,300.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
As part of the new Central Motor Vehicle Rules, the government is framing a mandatory recall policy entailing penalties.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
Tata Motors on Tuesday said it will increase prices of its passenger vehicles by an average of 0.9 per cent with effect from January 19, in order to partially offset the impact of rise in input costs. The Mumbai-based automaker sells various models like Tiago, Punch and Harrier, in the domestic market. Effective January 19, 2022, an average increase of 0.9 per cent will be implemented, depending on the variant and model, the automaker said in a statement.
In April, MSI had recalled 1,03,311 units of its popular models -- Ertiga, Swift and DZire -- manufactured between November 12, 2013 and February 4, 2014 to replace faulty fuel filler neck.
Workers at Suzuki Powertrain India Ltd and Suzuki Motorcycle India Pvt Ltd, who have also gone on strike in support of their colleagues at MSI, are continuing their stir.
MSI expects the royalty paid to parent Suzuki Motor Corp to come down starting with its upcoming compact SUV as its engineers enhance their role in the joint development of future products.
The department had also said it would initiate action to derecognise the unions of SPIL and SMIPL.
When it comes to electric cars, the electric dream is turning out to be a six-letter word starting with f, ending with y, and having antas in between, notes Suveen Sinha.
Maruti's 7 models in India's top ten selling passenger vehicles in 2016-17
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
The phenomenal success of Xcent, Grand and Santa Fe increased volumes creating positive momentum
"The Manesar plant remains captive in the hands of workers. There is no production possible there. Due to the impact of components from SPIL, production at Gurgaon will be even lower compared to yesterday," a Maruti Suzuki India spokesperson said.
The company added that the employees have offered to donate a day's salary for the cause.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
Maruti cannot make a Rs 1 lakh car and the company engineers say it cannot be done, Maruti Suzuki India managing director and CEO Shinzo Nakanishi said.
The proxy advisory firm's latest comments come within days of Maruti saying that it expects to save about Rs 10,500 crore (Rs 105 billion) in the first 15 years by not investing in the Gujarat facility.
The country's top carmaker Maruti Suzuki India (MSI) on Wednesday said it has decided to advance maintenance shutdown at its two Haryana-based manufacturing plants by a month amid a surge in the COVID-19 cases across the country. The auto major was supposed to take the shutdown at its two plants in Gurugram and Manesar in June, but due to the tsunami of COVID-19 cases, it decided to take it one month earlier to save oxygen for medical needs. MSI noted that as part of the car manufacturing process, it uses a small amount of oxygen in its factories, while relatively much larger quantities are used by the manufacturers of components.
Maruti Suzuki India Limited, the country's largest car manufacturer, on Wednesday unveiled its luxurious and sporty sedan, Kizashi, at an introductory price of up to Rs 17.5 lakh (Rs 1.75 million).
Automobile exports from India recovered in the first quarter with all vehicle segments, including passenger vehicles and two-wheelers, witnessing growth following an improvement in the pandemic situation across various international markets. As per the latest SIAM data, total vehicle exports during the April-June quarter this fiscal stood at 14,19,430 units as compared with 436,500 units in the same period of 2020-21 which saw massive disruptions due to the COVID lockdowns across the country, hampering sales as well overseas shipments. SIAM director general Rajesh Menon told PTI that while two-wheeler shipments were better than previous three years, passenger vehicles, three-wheelers and commercial vehicles export numbers were yet to catch up with numbers in the first quarter of 2018-19 fiscal.
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Country's largest car-maker Maruti Suzuki India continues its dominance on the Indian roads, with its four models, led by entry-level small car Alto.
The new body -- Maruti Suzuki Workers' Union -- has received its registration number from the Haryana Labour Department this week and the company has also decided to recognise it for any future negotiations at the plant.
Maruti Suzuki, the market leader in the passenger car market in India is betting big on the A2 segment which is the biggest contributor to the overall passenger car sales in the country.
The vehicles affected by the recall are manufactured between September 2011 and July 2014.
Elaborating on the pricing formula of cars produced by Maruti Suzuki at its facilities in Haryana, the company said it marked up the cost of production of the car to generate profits.
Maruti Suzuki India on Tuesday became the first Indian automobile company to produce one million cars in a year.
Even as Maruti Suzuki's once bread-and-butter M800 model is seeing interest wane among buyers in India, demand for the country's once most iconic car has shot up in markets abroad.
Good sowing of kharif crops, better minimum support prices, and fewer Covid-19 cases (in villages) will help the rural growth story to continue, says Maruti.
M&M also saw its domestic passenger vehicle sales grow by 1 per cent, while Toyota Kirloskar Motor witnessed a decline in its PV sales.
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.
Analysts say in spite of its recent recall of 100,000 Swift, Ertiga and Dzire cars, Maruti's outlook remains stable.
Stingray, which is powered by a 998 cc petrol engine, is available in three variants, with price ranging between Rs 4,10,000 to Rs 4,67,000.
India's largest car manufacturer Maruti Suzuki India Ltd has resumed its small car exports to Europe after four years and hopes to export about 150,000 cars in the 2010-11 fiscal, a top company official said here on Saturday.
Auto major Maruti Suzuki tops the chart for buyers' satisfaction with newly launched cars, while Tata Motors found its berth at the bottom, says a study by JD Power.
While saying money was due from Suzuki, the HC told the tax department to determine an appropriate arm's-length pricing mechanism in this case.
Market leader Maruti Suzuki India's passenger vehicles sales declined by 2.34 per cent last month at 133,702 units. Hero MotoCorp reported total two-wheeler sales of 480,196 units last month, down 20.05 per cent.
Maruti's transformation -- if not descent -- to the 'low road' of labour practices stems from growing competitive pressures in the marketplace since the late 1990s.
The government is working on a recall policy.
The company would decide on increasing the capacity and investment needed for the same in presence of its parent Suzuki Motor's chairman Osamu Suzuki
