Mercedes Benz, BMW and Audi have sharply increased their sourcing from India.
Major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors and Toyota Kirloskar on Tuesday reported decline in domestic passenger vehicle sales in May compared to the previous month as a spike in COVID-19 cases and lockdowns across various states hit production and dispatches. The country's largest carmaker Maruti Suzuki India (MSI), which shut production from May 1 to May 16 so as to divert oxygen from industrial use for medical purposes, reported domestic dispatches to dealers at 35,293 units last month, down 75 per cent from 142,454 units in April. The company said sales of its mini cars, comprising Alto and S-Presso, declined by 81 per cent to 4,760 units in May as against 25,041 units in April this year.
The Securities and Exchange Board of India (Sebi) has cleared the draft red herring prospectus (DRHP) of the state-owned Life Insurance Corporation of India (LIC). According to investment banking sources, the so-called final observations were issued by the market regulator on Tuesday evening. Following the market regulator's nod to the IPO papers, the insurer can launch its share sale. However, LIC may not launch its IPO immediately given the current volatile market conditions.
Automobile companies saw remarkable growth in sales in June.
Nissan Motor Company, Japan's third-largest auto maker, has decided to cut its small car sourcing target from India's biggest car company Maruti Suzuki by 80 per cent in view of the severe downturn in Europe's automobile market.
Currently, the new series of engines is being used in the latest models of the Maruti stable -- Estilo, Ritz and the 'A' Star. Asked whether all the entry level cars would be equipped with the KB Series engine, Maruti Suzuki India chairman R C Bhargava told PTI that it could happen over a period of time.
Auto firms are likely to perform better in coming months.
Maruti Suzuki, India's largest car company by sales, is working on an ambitious plan to launch electric cars and compressed natural gas variants for three or four models in the domestic market.
Removal of mark-ups to be paid by Maruti, other changes could raise funding need to Rs 6,000 crore.
Here's a car that is going to give its competitors a run for their money, says P Tharyan.
The company had sold 1,58,076 units in March last year, Maruti Suzuki India said in a statement. Domestic sales declined by 46.4 per cent at 79,080 units last month as against 1,47,613 units in March 2019, it added.
"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
BSE benchmark Sensex plummeted over 388 points to close at 58,576.37 on Tuesday, tracking weakness in index majors Wipro, RIL and Bharti Airtel amid a weak trend in global markets. Investors also remained cautious ahead of crucial macroeconomic data announcements -- industrial production for February and inflation rate for March -- post trading hours. The Sensex declined 388.20 points or 0.66 per cent to settle at 58,576.37. During the day, the benchmark tanked 666 points or 1.12 per cent to 58,298.57.
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 redi-GO will take on Maruti Suzuki's best-seller Alto, Hyundai's Eon, and Renault's Kwid
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.
After a worrying 7 per cent fall in sales in January, Maruti Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra and Honda Siel have notched up an impressive 18.78 per cent growth in sales in February. Strong demand for the SX4 and DZire models helped Maruti Suzuki, the country's largest passenger car maker, record an impressive 19 per cent jump in sales in the domestic market, hitting a new record of 70,625 units in February.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
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.
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.
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.
Maruti Suzuki has launched the Ritz to consolidate its share in the fast-growing market for compact cars. This segment accounts for almost 70 per cent of the car market and Maruti Suzuki already has a 58 per cent share with brands like the Swift.
The company, which has been negotiating contract manufacturing deal for its A-Star model with Nissan, also expects to start exports for the Japanese car maker by around February-March next year. The company, which has been negotiating contract manufacturing deal for its A-Star model with Nissan, also expects to start exports for the Japanese car maker by around February-March next year.
As part of the new Central Motor Vehicle Rules, the government is framing a mandatory recall policy entailing penalties.
Maruti Suzuki India, on Friday launched its latest small car Ritz in both petrol and diesel variants, offered at an introductory price of Rs 3.90-4.99 lakh.
Suzuki Motor Corporation has already said India would be the global small car development hub outside Japan for other markets, he added. MSI's R&D centre is being developed to be at par with SMC's facility in Japan. It will also have crash test centre.
The model's engine being upgraded to comply with BS IV norms. Engineers at Maruti Suzuki India can upgrade the engine that powers the car to comply with the Bharat Stage IV emission norms set to kick in by April next year.
The A3 segment (Swift Dzire and SX4 sedans) sales grew by 36.5 per cent to 8,995 units in January 2010.
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.
Car companies are hoping to buck the slowdown by launching new models to push sales from January. Industry majors like Maruti Suzuki, Mahindra & Mahindra, Hyundai India have all lined up launches in the next few weeks and months hoping to generate reasonable volumes.
Auto Expo's Twitter handle (@AEMotorShow), with a follower base of 16,000, is abuzz with activity. The Facebook page of Auto Expo has about 158,000 followers.
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.
All three employees are recovering fast towards normalcy and as per the safety protocol, essential information was shared with the district health authorities, it added.
The Swift DZire, which is essentially a replacement model for the Esteem, was launched by Maruti Suzuki to strengthen its dwindling position at the entry-level of the sedan segment. The car was launched with an attractive price tag of Rs 4,49,000 in March, 2008.
Maruti Suzuki India has rejigged its management structure appointing five Indians in crucial decision-making positions.
Sales of Maruti Suzuki India during January-December 2008 stood at 697,850 units while those of Suzuki Motor Corporation for the same period stood at 679,215 units. The comparable growth for MSIL in India comes on the back of an almost 2 per cent decline for the company in a year-on-year basis during the calendar year. Its sales were higher in calender year 2007 at 710,532 units, according to the data provided by the company.
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.
Hyundai Motor and Toyota Kirloskar Motor have announced the suspension of manufacturing operations at their respective plants amid coronavirus outbreak. On Sunday, various automakers like Maruti Suzuki India, Honda Cars, Mahindra & Mahindra and Fiat announced a temporary halt in manufacturing operations at their respective facilities.
Sales of the company's oldest and once bread-and-butter model M800 declined by 5.53 per cent at 3,124 units from same period last year, while A2 segment (comprising Alto, Wagon R, Estilo, Swift, A-Star and Ritz) witnessed a growth of 18.43 per cent at 51,437 units compared to same period last year.
Maruti Suzuki, Hyundai and Mahindra failed to register significant growth.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances