'If we are to be a contributor to the economy, we have to reduce carbon and imports.' 'We will achieve both -- that's our target.'
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.
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.
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.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
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.
The new year will see a line of hatchbacks (including compact SUVs) hit the Indian roads. Rajesh Karkera/Rediff.com offers a peek.
Big, Bold and Smart. That's what the MG Hector radiates when you first see it.
The electric vehicle evolution in India's passenger vehicle market has remained frozen in time and may see limited adoption over the next decade, experts say.
The China auto show saw some amazing models being rolled out, some for the first time. Rajesh Karera/Rediff.com picks the best of the lot.
Domestic passenger vehicle sales could touch a record level of nearly 40 lakh units this year on strong demand and companies finding ways to enhance production despite semiconductor shortage, a senior Maruti Suzuki India official said on Monday. Even as the chip shortage issue has improved compared to a year back, the industry is estimated to have a pending order of around 7.5 lakh units of passenger vehicles with Maruti Suzuki India (MSI) alone having around 4.18 lakh units, company senior executive officer, marketing and sales, Shashank Srivastava told PTI. "I think it would be slightly below 4 million (units mark).
There are a whopping 10 sedans slated for a launch in India this year. Rajesh Karkera/Rediff.com gives the lowdown.
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.
It plans to introduce a total of eight products in the country in 2017-20, of which three will be completely fresh while the rest will be new versions of the existing ones
Nissan and Renault say they will compete with new models, especially small cars, and by growing their dealer network.
With multiple options in the compact sport utility vehicle (SUV) and compact sedan space, the mid-size sedan seems to be losing its charm among customers.
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 narrowing gap between petrol and diesel prices, an uncertainty around the future treatment of vehicles and low resale price of diesel cars are some of the apparent reasons for the strategy shift
Over 22 passenger and commercial vehicle makers and 18 two- and three-wheeler makers will take part amid proximate security.
Lexus continues its hybrid offensive in the country with the new NX midsize luxury SUV that eyes the popular Mercedes-Benz GLC and the Range Rover Evoque, among others
Hero MotoCorp, Honda Motorcycles, Scooters India, TVS, Honda India, Toyota Kirloskar Motor, Ford, Nissan, Ashok Leyland are all giving the Auto Expo a miss this time.
The Finance Minister proposed a cess of 1 per cent on small petrol, LPG and CNG cars, 2.5 per cent on diesel cars of certain capacity.
Market leaders saw good traction for new cars, including the electric ones.
The new crossover and fully imported models of the Jeep brand will increase Fiat's product line-up that has shrunk to just two at present
Will Maruti Suzuki Grand Vitara see a second innings in India?
The sub-4 metre sedan will be available with both petrol and diesel engines.
Two of these launches are from the country's largest passenger carmaker, Maruti
Auto experts from CarJasoos will answer all your questions related to buying, selling or maintenance of new or used cars.
This number is more than the total number (1,071) of electric cars sold in India in calendar year 2019. MG has stopped registrations for the ZS and will cater to 2,409 of the total bookings.
Making a debut in India with an SUV, Citroen's products in the next couple of years will clearly chart and define its destiny in what has become both a vibrant but also a daunting market for foreign entrants, says Pavan Lall.
Audi India launched the second generation 2016 Audi R8 at the show.
New Creta, petrol Vitarra Brezza.. A quick look at what went down at Auto Expo Day 2.
James Bond's Nemesis Drives Jaguar C-X75 in 'Spectre' !!
The $100-billion SAIC would have a dedicated manufacturing facility in India, and would be the first Chinese automaker to do so.
It can give a peek into your personality.
Honda will launch 4 cars in India soon.
German luxury carmaker BMW on Thursday launched the updated version of its sports utility vehicle X3 priced up to Rs 49.9 lakh (ex-showroom Delhi).
German luxury carmaker BMW on Thursday launched the updated version of its sports utility vehicle X3 priced up to Rs 49.9 lakh (ex-showroom Delhi).
With the government not continuing with lower excise duty beyond December 31, major car makers, including Maruti Suzuki, Hyundai, GM India and Honda have raised vehicle prices by up to Rs 127,000.
