India's largest carmaker, Maruti Suzuki India (MSIL), is focused on getting 50 per cent of its customers' car-financing transactions executed through its Smart Finance platform by next year. Shashank Srivastava, executive director-sales, MSIL, said this will help the company turn its website into a single-window channel through which customers can select their models, find dealers, and arrange financing. He said there is a likelihood that 100 per cent of its customers availing of financing will take it through Smart Finance. To date, the company has disbursed Rs 6,500-crore loans via Smart Finance to around 100,000 customers, accounting for 28 per cent of all finance-based car-purchase transactions for the company.
Among the Sensex constituents, Tata Motors was the biggest loser with 6.52 per cent fall, followed by Vedanta 5.09 per cent, Bajaj Auto 4.99 per cent, Maruti Suzuki 4.26 per cent and Tata Steel 2.65 per cent.
In four days, Sensex has fallen by 5,815.25 points. From the 30-share pack, 22 companies closed the day lower, led by Bajaj Finance, Maruti Suzuki India, Axis Bank, M&M, Tech Mahindra and ONGC, plunging up to 10.24 per cent.
In percentage terms, IndusInd Bank, SBI, HDFC, ICICI Bank and L&T were among the top losers. On the contrary, Bharti Airtel, Reliance, Sun Pharma, HCL Tech and Maruti Suzuki emerged as major gainers.
Several carmakers, including car market leader Maruti Suzuki India pulled the plug on diesel models citing higher costs for BSVI variants leaving buyers with limited options.
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.
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
According to government data, the Centre procured only 35,179 ventilators out of the 50,000 originally ordered.
Watch the flash mob that take over Auto Expo 2018.
Maruti Suzukisaid it was trying to offer more factory-fitted CNG cars to address environmental concerns
Other major gainers were Tata Steel, Yes bank, Axis Bank, Maruti Suzuki, Tech Mahindra and TCS -- rising as much as 7.09 per cent.
The intensity of power crisis this season has hit a new high with average coal stock dipping to less than eight days. The first of a pan-Indian series, based on a ground report, shows how the Manesar industrial hub is coping with the challenge. As the scorching heat wave and the lengthy power cuts intensify in Haryana, the usually bustling labour chowk of the Industrial Model Township (IMT) of Manesar wears a deserted look.
While sales of compact cars, including models such as Swift, Celerio, Ignis, Baleno and Dzire declined, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, increased 26.3 per cent to 19,177 units as compared to 15,178 in the year-ago month.
The carmaker has sought 1,292 acres at Industrial Model Township, Sohna, 25km from Gurugram.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 7 per cent, followed by SBI, ICICI Bank, HDFC twins, Axis Bank, Bajaj Finserv and UltraTech Cement. NSE Nifty soared 245.35 points to 14,923.15.
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.
If it splits now, who takes what away and leaves what behind? asks Shekhar Gupta.
Maruti, which is majority owned by Suzuki Motors of Japan, pays massive tax, generates huge employment (its staff are almost entirely Indians) and also makes its investors extremely rich. JLR, on the other hand, though owned by Tata has its factories in England and China and in every way (sales, employment, technology) has nothing Indian about it.
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.
Yes Bank was the biggest gainer in the Sensex pack, rallying 3.79 per cent. It was followed by PowerGrid, Maruti Suzuki, IndusInd Bank and Axis Bank -- rising up to 2.85 per cent.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
IndusInd Bank was the top laggard in the Sensex pack, cracking around 10 per cent, followed by HDFC, Maruti Suzuki, Axis Bank and UltraTech Cement. On the other hand, TCS, Infosys, ITC and HCL Tech closed with gains. NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
Developed in-house, the 1.5-litre engine comes mated with six-speed transmission and offers improved performance.
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.
Maruti has announced it will phase out diesel variants from April 1, 2020, when stringent BS VI norms take effect
However, compared to August, vehicle sales increased by 15.25 per cent on the back of discounts. Maruti led the market in offering heavy discounts and incentives for buyers and dealers, reports Arindam Majumder.
This crisis has arisen just as demand in India's auto sector started seeing some sort of revival after the nationwide lockdown in March/April.
Major carmakers in the country are loading barrels for the coming battle in the field, reports Arnab Dutta.
It is currently working out the details of the quantum of price increase, which will vary depending on the model.
IndusInd Bank was the top gainer in the Sensex pack, rallying up to 46 per cent. Other winners were Bharti Airtel, L&T, Bajaj Finance, Kotak Mahindra, Bajaj Auto, HUL and HDFC -- rising up to 10 per cent. On the other hand, Maruti Suzuki, Tech Mahindra, Sun Pharma and Reliance Industries closed with losses. NSE Nifty finished 323.60 points, or 3.89 per cent, up at 8,641.45.
Leading automakers Maruti Suzuki India, Hyundai Motor, Kia Motors and Tata Motors reported sales growth in the domestic market in November, aided by robust offtakes amid the festival season. While Maruti Suzuki India reported marginal growth, Hyundai logged in its highest ever monthly sales in November. Others like Honda Cars India, Toyota Kirloskar Motor, Mahindra & Mahindra and MG Motor India also reported sales growth in November as compared with the same month last year.
A car that gives you a better resale value will reduce the cost of your next purchase, points out Bindisha Sarang.
Tata Motors was the top gainer in the Sensex pack rallying 5.32 per cent. Among other prominent gainers were Bharti Airtel, IndusInd Bank, Sun Pharma, Axis Bank, Maruti Suzuki, Bajaj Auto and TCS.
With cars like the Toyota Corolla and the Honda Civic selling in very small numbers and potentially even being phased out, the Octavia has very little competition, says Pavan Lall.
Ahead of the peak festive season, India's passenger vehicle makers are staring at a cumulative order backlog of nearly 500,000 units as chip shortage continues to cripple production. The crisis is forcing companies to change their production plans frequently and take a call on the variants they can manufacture based on the availability of semiconductors. The booking numbers are not a true reflection of demand, said manufacturers.
Honda has grown from 15% in FY12 to 27% now; Yamaha has doubled share to 5% in five years.
Market leaders Maruti Suzuki and Hyundai, who together control two-thirds of the domestic market, have not yet firmed up a decision on raising prices.
Developed at an investment of Rs 620 crore (Rs 6.2 billion), the most on a car by Maruti Suzuki, the Ciaz will also be exported to West Asia, Europe, Africa and Latin America.
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