The country's largest carmaker Maruti Suzuki India will not "walk away" and fight to get back to 50 per cent market share in the domestic passenger vehicle segment, according to company Chairman R C Bhargava. The auto major, which is commemorating 40 years of operations, has seen its market share drop to 43.38 per cent in FY22 from a peak of 51.21 per cent in FY19. In order to get back its dominant leadership, the company plans to drive in models catering to both urban and smaller cities and rural areas.
The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India chairman RC Bhargava. He also said India's economic growth rate could be higher if the manufacturing sector grows fast, which 'unfortunately' has remained a laggard despite the best efforts of the Narendra Modi-led government at the Centre due to implementation gaps at the ground level. "The burden of regulatory changes on the small cars is far higher than the regulatory burden on big cars and that is changing the whole market behaviour.
Companies in the micro, small and medium enterprises (MSME) sector may legally challenge the Haryana government's new law which mandates 75 per cent reservation of jobs in the private sector for locals. "We had earlier gone to the high court against this law, but the court said that it would hear the matter after the law was notified," said Manoj Tyagi, general secretary, IMT Industrial Association. Industries and associations feel that the law will not benefit the state and will hit MSMEs that are just coming out of the crippling effects of the lockdowns owing to the Covid-19 pandemic.
Some economists have said the industry's woes have shown signs of bottoming out.
The main problem is that the consumer's purchasing power has been eroded, say RC Bhargava, Maruti's chairman.
Addressing shareholders at the 31st annual general meeting, which started after observing a minute's silence in memory of slain general manager Awanish Kumar Dev, Maruti Suzuki India chairman R C Bhargava said that security cover at Manesar plant will continue till its staff feels secure.
The Haryana government has agreed to appoint a special prosecutor, K T S Tulsi, to frame charges against those identified in connection with the incident.
Maruti Suzuki India will set up a skill development centre in Gujarat, where it is investing Rs 4,000 crore to set up a manufacturing facility, even as it is trying to restore normalcy at its Manesar plant in Haryana.
Production has been severely hit at the first plant in Manesar since August 29 when the management prevented workers from entering the unit without signing a 'good conduct bond' after alleged 'sabotage' and deliberate quality compromise on cars.
Osamu Suzuki, chairman, Suzuki Motor Corporation, is likely to meet Gujarat Chief Minister Narendra Modi to finalise plans to set up a manufacturing plant for Maruti Suzuki India.
Rahul Bajaj was transparent, outspoken, and not ready to bend the rules, says R C Bhargava.
Maruti chairman R C Bhargava tells Sharmistha Mukherjee that there won't be a reduction on its dependence on the facility in Haryana.
"Export will not be better in this fiscal. It will remain more or less the same as last year or may be even worse. Situation in many global markets has not improved yet," Maruti Suzuki India (MSI) Chairman R C Bhargava said on the sidelines of Hero Mindmine Summit.
Maruti Suzuki India (MSI) on Tuesday said it will not resume full-scale production at its Manesar plant till workers sign a 'good conduct bond', as demanded by the company to ensure there is no repeat of quality issues that have surfaced at the plant.
The country's largest car maker, Maruti Suzuki India, on Tuesday said it, along with vendors, could invest up to Rs 18,000 crore (Rs 180 billion) in Gujarat as it looks to produce about 20 lakh (2 million) units in the long run in the state.
Institutional investors and independent advisors are questioning the company's crisis-handling process in the wake of reports that several workers, including strike leaders Sonu Gujjar and Shiv Kumar, quietly resigned after pocketing hefty payouts.
The ceremony for conferring the award will be held at the Imperial Palace in Tokyo on November 7, according to a statement by the Embassy of Japan in New Delhi.
Several industry leaders on Monday supported United Progressive Alliance chairperson Sonia Gandhi's proposal of giving annuity to farmers in addition to compensation for land acquired for industrial purposes.
As the strike at its Manesar plant entered the fifth day on Wednesday, the country's largest car-maker Maruti Suzuki India said there was no question of accepting the demands of the workers.
The country's largest car-maker Maruti Suzuki India on Monday said its Manesar plant has stopped functioning, resulting in a production loss of about 1,200 units so far as a workers' strike entered the third day.
Nissan, Japan's fourth-largest car manufacturer, sells MSIL's A-Star as Pixo, an entry-level car, in Europe.
India's largest carmaker Maruti Suzuki plans to ride on the back of new launches in the future to retain its numero uno position in the market place and beat back competition from its peers.
Maruti Suzuki exported 1,47,000 units in 2008-09, the highest ever export figures, with the compact car A-star alone clocking over 1,27,000 units.
Ahead of this year's Budget, leading car manufacturer Maruti Suzuki on Monday asked the government not to roll back the entire stimulus package at once as it may hamper economic growth.
On the sidelines of 'Samvit 2009 -- The Leaders' Conclave' at IIM-Lucknow recently, Ajit Balakrishan tells Virendra Singh Rawat answered some issues that have dogged IIMs.
India's largest carmaker Maruti Suzuki India is planning to launch a new version of its small car Alto, the highest selling model in India, with a bigger engine.
The country's largest car maker, Maruti Suzuki, will finalise investment plans for a new plant at its Manesar facility at a board meet of the company in mid-October.
"Our sales have been growing since December 2008. December 2008-July 2009 are great months", Maruti Suzuki India chairman R C Bhargava told reporters in Chennai. He hoped that the next two-three months would yield a double digit growth.
Maruti Suzuki Chairman R C Bhargava admitted the company had "slipped up" by not informing the press on the recall of 100,000 A-Star vehicles, which began last December, even as the market gave a thumbs up to the car maker with shares going up 2.38 per cent to close at Rs 1,368.65.
The country's largest carmaker, Maruti Suzuki, on Monday said it has stopped working on LPG models as it will roll out CNG variants of the entire range of its cars from early 2010, the first of which could be its highest selling model Alto.
Today, thanks to television coverage and media hype, it has a huge multiplier effect, says an auto-parts maker.
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.
MSI exported 70,023 units in the 2008-09 fiscal.
The committee, headed by Maruti Udyog CEO R C Bhargava, has already visited some of the IIMs and has completed its deliberations on the matter pertaining to administration and excellence of the institutes. The IIMs have already hiked their fees from this year. IIM-Ahmedabad had announced steepest increase of 175 per cent in the fees of its first year post-graduate programme from Rs 200,000 to Rs 5,50,000. Similarly other IIMs have increased their fees.
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.
Terming Satyam's shocking disclosure of about the Rs 8,000-crore (Rs 80 billion) financial fraud as a 'one off case', corporate leaders today expressed confidence and said it will not damage the image of India Inc.
Reliance Capital AMC gets nod to operate in Malaysia Mumbai, Nov 20 (PTI) Anil Ambani-promoted Reliance Capital Asset Management company has been given approval to commence operations in Malaysia, a top official of the Securities Commission, Malaysia, said today.
Khattar's place will be taken by Shinzo Nakanishi, who is currently the chairman of MSIL. R C Bhargava, who is a director, has been named the new chairman.
Suzuki Motor Company chief Osamu Suzuki on Thursday called on Finance Minister P Chidambaram, within a week of the government deciding to sell 8 per cent of its equity in Maruti Udyog Ltd.
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