'Without his vision and foresight, his willingness to take a risk that no one else was willing to take, his deep and abiding love for India, the Indian automobile industry could not have become the powerhouse that it has become.'
Osamu Suzuki, the man who took a risk and bet on India when no one else believed in having a viable automobile company in the country, has died at the age of 94, according to information shared by Japan's Suzuki Motor Corporation on Friday.
Following the violence and arson, MSI had on July 21 announced an lockout at the plant.
Overseas shipments at auto firms expanded at a brisk pace year-on-year (YoY) in March, bumping up the overall annual exports for FY22 and taking it to a record level for some like Maruti Suzuki India and Bajaj Auto. Amid a semiconductor shortage, a depreciating rupee and a strong demand in various export destinations, passenger vehicle makers diverted capacity meant for the local market in favour of the more-lucrative export market. Among the passenger vehicle makers, market leader Maruti Suzuki led the rally with its overseas shipments touching a record level of 238,376 units in FY22 - the highest for the company in any financial year.
Almost all of these companies either unveiled their new electric vehicle or alternative energy-powered models.
With 15 models and a market share of close to 50 per cent, it rules the Indian market, selling almost 1.5 million units every year, rolling out one model every ten seconds.
According to Siam data, Indian auto companies sold 982,456 units of utility vehicles in the first half of FY23, a 50.29 per cent growth over the corresponding period last year.
MNC auto firms that sold cars below cost, at a loss, thereby paying lower excise duty are prime targets.
After a strong opening, shares of the car-maker further zoomed 9.37 per cent to Rs 1,899.90 -- its 52-week high on the BSE.
The company, whose arm Maruti Suzuki is the largest passenger vehicles maker in India, asserted that it does not align with any political or religious inclination in any part of the world.
Recently, South Korean Foreign Minister, Chung Eui-yong, dialled his Indian counterpart, S Jaishankar, in New Delhi. His government, he said, "regretted the offence caused to the people of India". A day earlier, India had summoned the South Korean ambassador to express its "strong displeasure" over "an unacceptable social media post".
Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world's fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. The EV push, egged on by the government's emphasis on electric mobility to meet its net zero targets, is expected to yield at least 25 electric vehicles - new ones as well as electrified versions of existing vehicles running on internal combustion engines.
Speaking at a roundtable with senior journalists in New Delhi, Suzuki said: "Haryana is my first home and Gujarat is my second. I have conveyed this to the two chief ministers."
Maruti Suzuki India (MSI) on Thursday said its new manufacturing facility in Haryana, the company's third in the state, would reach peak production capacity of 10 lakh units per annum in the next eight years entailing a total investment of Rs 18,000 crore. The new facility, which would come at a 800-acre site at IMT Kharkhoda in Sonipat district, will entail total investment of Rs 11,000 crore in the first phase with a production capacity of 2.5 lakh units per annum. The first set of vehicles are expected to roll out from the facility in 2025.
In a filing to the BSE on Monday, Maruti Suzuki India said Suzuki Motor Corporation's stake in MSI has increased to 56.2 per cent from 54.2 per cent due to a share swap agreement with the domestic car market leader to acquire Suzuki Powertrain India Ltd.
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.
Maruti Suzuki, India's biggest carmaker, reported a 36 per cent rise in third-quarter net profit, matching estimates, as favourable foreign exchange movement and cost reduction efforts offset falling sales.
Suzuki, who is in India on a visit, told representatives of Maruti Udyog Kamgar Union, the elected union of Maruti Suzuki India that the management of the Indian arm would not accept any indiscipline in the company.
Volkswagen last year acquired 20 per cent stake in Maruti Suzuki India's parent Suzuki Motor Corp for about $2.5 billion (over Rs 11,500 crore).
Just a day after Volkswagen alleged the Japanese company had infringed an agreement by purchasing diesel engines from Fiat for its plant in Hungary, Suzuki demanded Volkswagen offload its 19.89 per cent holding in it.
Japanese carmaker Suzuki Motor Corp is recalling the automatic transmission version of its compact car 'Alto' in Europe, which is sold under the brand A-Star in India.
Japanese carmaker Suzuki Motor Corp is recalling the automatic transmission version of its compact car 'Alto' in Europe, which is sold under the brand A-Star in India.
The Indian made Polo has a competitive price and suits the demands of many markets in South East Asia and Africa.
'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 Suzuki Motor Corp on Tuesday rolled out its millionth baby, a dazzling red Swift from its plant here.
MSI expects the royalty paid to parent Suzuki Motor Corp to come down starting with its upcoming compact SUV as its engineers enhance their role in the joint development of future products.
Maruti Suzuki has outperformed Suzuki Motor Corp in terms of profitability, with the Japanese parent today posting a consolidated net profit of 28.91 billion yen (about Rs 1,395 crore) for the fiscal 2009-10, almost half of that of the India's largest carmaker.
The country's largest carmaker Maruti Suzuki India (MSI) is planning to invest around Rs 18,000 crore on a new manufacturing facility in Haryana, as per a top company official. The new plant would replace the company's Gurugram-based facility and is expected to have an installed production capacity of 7.5-10 lakh units per annum. While confirming the Rs 18,000 crore investment plan, MSI chairman RC Bhargava told PTI that the company had always planned to shift the Gurugram facility to a nearby location.
The three companies would jointly invest in setting up a manufacturing unit at Manesar in Haryana, expected to be operational by end of calendar year 2008. The facility, when fully operational, would have a capacity to produce five lakh units per annum, MSIL said in a statement.
Kizashi, Suzuki's first entry into the all-wheel-drive sport sedan segment, arrived in dealer showrooms of North America in December last year and the company has so far sold about 300-400 units in the country.
Japanese car giant Suzuki launched its fifth global small car Alto at the Geneva Motor Show on Wednesday. The car will be imported from its manufacturing base in India.
Suzuki Motors Corp, the parent company of Maruti Udyog, announced on Friday a manufacturing collaboration with Nissan Motor Co and said they will begin joint production in India.
Suzuki Motor Corp is believed to have reached an agreement with the government on its plans to set up a second Indian factory
Suzuki Motor Corp. of Japan on Monday said it plans to invest about Rs 1,050 crore in its Indian arm Maruti Udyog.
More than two decades after manufacturing its first vehicle in India, Maruti Udyog Ltd on Wednesday rolled out the five-millionth car from its assembly line in Gurgaon, a red 'WagonR'.
Maruti Udyog Ltd will hold 70 per cent stake in the new subsidiary, while the remaining would be with the Japanese company, MUL Managing Director Jagdish Khattar told reporters in New Delhi after the company's board meeting.
Many Indian ports were paralysed on Wednesday and food prices nationwide started soaring as a truckers strike dragged into its third day.
Suzuki Motor Corp will begin production of a new 1.5-litre-class sporty passenger car at its joint ventures in India and China primarily intended for the local markets, Japanese newspaper Nihon Keizai Shimbun reported.\n\n\n\n
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