The company said sales of the compact segment comprising Swift, Estilo, Ritz surged over two fold to 17,409 units
The New Year will begin on a costly note for car buyers with major players, including Maruti Suzuki, Hyundai Motors and General Motors, planning to increase prices of the vehicles by as much as Rs 12,000.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
Recently, TPEM's first born electric concept, Avinya broke cover. The model promises a minimum range of 500 kilometres and advanced technology features, aimed at buyers in India and outside. TPEM, the newly formed entity may also consider a separate dedicated sales channel for the EVs with a distinctive corporate identity once the volumes reach a critical mass and throughput is large enough for the dealers to be profitable, said Chandra. Elaborating further on the hiring strategy he said, "We will hire from everywhere-wherever the talent of the required competency is available."
Most of the hirings are, however, in the entry or junior level.
Gujarat has caught the fancy of a large number of corporate heavyweights.
Maruti Ciaz and Ertiga are exempt from the infrastructure cess and so, there is no change in the prices of these models.
Company has taken preliminary tests of 1,181 candidates from state ITI.
Maruti Suzuki India on Thursday said it is likely to raise in the next few weeks, the price of its entry level sedan Swift DZire to offset high input costs.Based on the Swift platform, Maruti has priced this entry level Sedan in Mumbai from Rs 4.70 lakh for petrol and at Rs 5.60 lakh for diesel (ex-showroom).
According to sources in the know, nearly 25,000 workers from Honda Motorcycle and Scooter India, Suzuki Powertrain India, Gurgaon-based Maruti Udyog Kamgar Union, Suzuki Motorcycle India, Sona Koyo Steering Systems, etc, filed a memorandum before Deputy Commissioner P C Meena.
HMSI has increased the monthly salary of its permanent workers by Rs 14,770 a month.
Under a new industrial relations deal, the worker's basic right to a living wage and decent working conditions, as well as the right of association and collective bargaining, must be respected and made effective.
It is Rs 24,500 costlier than the existing model.
The workers resorted to a strike when five of them were suspended for 'allegedly assaulting a supervisor' on Wednesday.
Leading manufacturers, including Maruti Suzuki, Hyundai and General Motors, are planning to raise prices of each of their models starting from the last week of this month or early next month.
Maruti Suzuki India is gearing up to introduce by the end of this year a new 800cc car that is likely to be more fuel efficient, but also more expensive, than its existing best selling model Alto.
Size matters on the road. Small is not dominating India's car market any more. The share of cars priced up to Rs 5 lakh in the passenger vehicle market has fallen to 10.5 per cent in the first 11 months of 2021-22, compared with 26 per cent in 2018-19 (FY19), the lowest in four years, according to data from industry sources. Even the share of those in the price range between Rs 5 lakh and Rs 7.5 lakh has dropped to 32.4 per cent in the same period, from 34.9 per cent.
Sales of mini cars comprising Alto and WagonR were at 11,577 units as compared to 37,710 units in July last year, down 69.3 per cent.
Maruti Suzuki India Limited (MSIL), which witnessed labour unrest at its Manesar facility, is set to complete the process of regularisation of contract workers at the unit by November-end.
Your plans to bring home a dream vehicle may just have become a little more distant, with automobile manufacturers considering price increases to offset the impact of higher excise duty levied in the Union Budget.
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.
The Baleno cars covered in the recall include 17,231 export units.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
The nine-month-old labour agitation at Everest Industries Ltd's plant in Nashik took a violent turn on Friday as three management officials of the company were stabbed.
Hit by recurrent labour unrest at its Manesar unit in Haryana, Maruti Suzuki India Ltd (MSIL) on Thursday said the company would introspect on whether an affiliated union with a pro-business approach and mature leadership would benefit the company.
The company said its domestic sales rose 19.9 per cent during the month to 90,093 units as against 75,145 units in July 2013.
As the second wave of the Covid-19 pandemic abates, India's automakers are hopeful of a quick recovery in sales volumes, led by better rural sentiment, low interest rates, improved availability of finance and a gradual uptick in business and economic activity. In fact, companies have started to ramp up production already, encouraged by high order books and the growing preference for private transport in both rural and urban areas as a means to avoid infections. In early April, the industry had been bullish as the sales trend for March showed that the effects of the Covid-19 pandemic had been left behind. The total vehicle sales had grown by 77 per cent, albeit on a lower base, and for the past few months, sales had consistently touched 300,000 units per month.
Dynamics of auto business will change if the government ends diesel subsidy to passenger vehicles.
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.
The global semiconductor shortage hit passenger vehicle sales in September, with major manufacturers like Maruti Suzuki, Hyundai and Mahindra & Mahindra reporting a decline in sales on Friday. Kia India and Honda Cars also reported a dip in wholesales last month as compared with the year-ago period. Carmakers like Tata Motors, Toyota Kirloskar Motor, Nissan and Skoda, however, reported an increase in passenger vehicle dispatches last month despite supply chain issues.
The motorbike giant will be rolling out an influential 250cc engine sports motorcycle in the Indian market within two years.
After rolling out five compressed natural gas models last year, India's largest passenger car maker, Maruti Suzuki India Ltd, is mulling a CNG platform for all its makes.
Domestic passenger car sales grew by 15.37 per cent to 1,33,486 units in August this year compared to 1,15,705 units in the same month of 2012.
After a year of industrial unrest, the big boys of the automobile industry in the Gurgaon-Manesar belt are set to initiate negotiations to settle wage agreements.
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.
The violence at Maruti Suzuki India's Manesar plant in July was not instigated from outside but was due to internal issues between management and workers, according to the chargesheet filed by the special investigation team (SIT) formed to probe it.
Morgan Stanley Sales & Trading, US, believes the stock is better value for money than others and has a upside as high as 73 per cent. A slowdown in the economy has hit demand and led to a fall in overall consumption in an auto market which till recently was one of the fastest growing in the world.
A strong demand for diesel SUVs has bumped up the contribution of these variants to Hyundai Motor India's sales to a three-year high, a company top official told Business Standard. The local arm of the South Korean carmaker has benefitted after some leading manufacturers - including car market leader Maruti Suzuki - pulled the plug on diesel models amid tightening regulations. Hyundai has also gained from the changing travel preference -people are frequenting getaways and taking to the road a lot more than what they did before the pandemic. This trend has been fuelling overall SUV sales.
It is looking out for new markets to increase exports.
Tata Motors, India's third largest passenger vehicle maker, took pole position in the competitive sport utility vehicle (SUV) market in October, reveals the data from industry sources. Riding high on the Punch - the sub-compact SUV offering launched on October 18 - the Tata group flagship sold a record 23,381 units in October, higher than 20,022 units sold by archrival Mahindra & Mahindra, 18,538 units sold by Hyundai Motor India, and 15,931 units sold by Kia Motors India. Utility vehicles - that include SUVs and multipurpose vehicles - accounted for almost one in every two passenger vehicles sold in India in the first seven months of the current financial year, according to the Society of Indian Automobile Manufacturers.
