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.
Open order books in February breach 700,000; wait period for some models exceed a year.
'In FY23, PV sales are expected to end the year at a record 3.8 million units, up 26 per cent. In FY24, however, the industry is expecting 5-7 per cent volume growth'
Passenger vehicle majors like Hyundai, Tata Motors, M&M, Toyota Kirloskar and Honda on Wednesday reported growth in domestic sales in August riding on festive sentiments, although market leader Maruti Suzuki posted a decline amid a semiconductor shortage affecting the industry. The country's largest carmaker Maruti Suzuki India Ltd (MSIL) reported domestic sales at 110,080 units, as compared to 116,704 units in the same month last year, down 6 per cent. "Sales volume of the company in August 2021 was affected due to electronic components shortage.
The NSE held 25 to 100 per cent stakes in these entities through its subsidiary NSE Investments as of September.
R C Bhargava says company's move on the Gujarat plant will be beneficial to its shareholders.
Watch the flash mob that take over Auto Expo 2018.
Suzuki Motor Corporation's Indian subsidiary, Maruti Suzuki India Ltd (MSIL), is going to play an increasingly important role in designing and developing global vehicles for the Japanese auto company in the coming years.
Workers' representatives largely giving in on good conduct bond; want revocation of most dismissals, suspensions.
The amount would depend on the time period that would elapse from the start to when capacity reaches 1.5 million cars
MSIL has been asked to suggest a new formula.
Indian auto industry's dependence on China is high and it will continue to be so in the BS-VI era and as the country moves towards electric mobility. Domestic players lack both technological competence and the sheer pricing advantage that support Chinese imports.
Car market leader Maruti Suzuki India Ltd (MSIL) on Saturday reported a 24 per cent jump in its car sales in the domestic market during November at 65,216 units against 52,574 units in the corresponding month last year.
While Toyota will acquire 4.94 per cent shares of Suzuki, worth $ 908 million, the latter will make a $ 454-million investment in the biggest automaker of Japan. Premium products from the Maruti stable such as the Baleno, Ciaz and Vitara Brezza will be sold under the Toyota brand with small changes.
Its production declined for the third consecutive year in financial year 2020-21 (FY21) to an 11-year low, while sales volume contracted for the second year to the lowest since FY15. The company manufactured around 1.08 million vehicles last fiscal, a decline from 1.17 million the previous year, and a steeper fall from its all-time high tally of 1.62 million reported in FY18.
The Supreme Court has agreed to examine the legal issue of whether the Enforcement Directorate can attach ancestral properties of the accused under the Prevention of Money Laundering Act as 'proceeds of crime.'
Celerio was launched at a time when the Indian automotive market was going through a transition.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
An analysis of past 20 years' demand cycles done by Edelweiss Securities indicates that the auto sector is currently in the middle of a down cycle. Volume recovery, they say, is unlikely to be as sharp as in the past, unless there is strong fiscal support.
Renault India is planning to ship 1,000-3,000 cars of the newly launched compact SUV Duster to the United Kingdom.
The decision to add capacity comes at a time when most auto majors have been resorting to production cuts.
Indian arm has cash reserves of Rs 7,000 crore, which might come in handy to set up plants around the world.
Going all out to market the all new Alto 800, pricing the base variant of the new car lower than the outgoing model, Maruti Suzuki India Ltd (MSIL), today said it will start exporting the car from Gujarat's Mundra port from December this year. The first export market is likely to be Chile in South America.
In what seems to be a softening of stance, Maruti Suzuki India Ltd (MSIL) has decided not to take any immediate steps to de-recognise the newly instituted Maruti Suzuki Workers' Union (MSWU) of the Manesar unit.
If you think the XL6 is a brand new, from-the-ground-up car, you have another think coming, says Pablo Chatterji.
Maruti Suzuki India Limited (MSIL), the country's largest car maker, has initiated a service campaign to inspect a probable fault and replace a part of the clutch operation system in the Ciaz, its mid-size sedan.
The Japanese word "Kizashi" means "something great is coming". Maruti Suzuki (MSIL) must be hoping its newest luxury sedan of the same name lives up to that promise. Kizashi will be launched in India this month-end and was formally unveiled in Udaipur last week.
The Baleno is among the top selling cars with unserviced bookings of 55,000 units.
Move could be aimed at integrating operations with Indian subsidiary.
Maruti is not an online outlier, of course; other heavyweights have rolled out similar services. But as an analyst pointed out, Maruti's all-India roll-out has significant impact given that it accounts for over half of all cars sold, reports, reports Pavan Lall.
Mandates have been handed out to staffing solutions companies such as Randstad India and TeamLease, officials at these firms have said, as players increasingly push into rural areas to capitalise on the uptick in the hinterlands.
MSIL would also focus more on bringing out models with auto gear shift technology.
The company's best selling hatch Alto would come at a discount of Rs 24,500, while Wagon-R petrol and LPG would come cheaper by Rs 45,000 and Rs 24,500 respectively. A discount of Rs 48,000 is being offered on Zen Estilo. The discount being offered across various models also includes finance payouts and exchange bonus apart from the customer offer.
The diesel car becomes too expensive with BS-VI and market assessment says the customer will not buy it at that price, says R C Bhargava, chairman, MSIL. He expects buyer preference to change swiftly in favour of petrol, CNG, and other alternative technologies.
Bringing curtains down on the glorious saga of the Maruti 800 model, Maruti Suzuki India has stopped production of the iconic car brand that had been carrier for millions of Indian middle class families, since last month, said senior official of the auto maker.
New subsidiary to supply cars to Maruti Suzuki
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.
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.
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.
