Page 10 - Maruti Suzuki

Growth in rural mkt balancing decline in small car sales: Maruti Suzuki

A revival in the rural market has helped in arresting the decline in sales of entry-level small cars, which saw a 10 per cent growth in retail sales in October, top company officials of Maruti Suzuki India said on Monday. The company, which launched all-new version of its compact sedan Dzire priced between Rs 6.79 lakh and Rs 10.14 lakh (ex-showroom Delhi), is bullish on enhancing its share in the sedans category despite the fast growth of SUVs and asserted that it would continue to cater to all segments to preserve its high market share in the domestic market. While the SUV segment has been growing, other segments are also important to the company to maintain high market share, Maruti Suzuki India (MSI) MD and CEO Hisashi Takeuchi told reporters here. "The compact sedan segment is very reliable. So from a business point of view, it is very good and secondly in order to retain decent market share, we have to have a presence in each of the customer segments," Takeuchi noted. MSI ...

Maruti Suzuki looks to enhance exports with upcoming new Dzire sedan

Maruti Suzuki India is targeting markets like UAE, Saudi Arabia, Chile, Mexico and other Latin American countries with its upcoming new version of compact sedan Dzire to accelerate exports as it eyes over 3 lakh units of overseas shipments this fiscal, a senior company official said on Wednesday. In the domestic market, the company hopes to enhance its share in the sedan market amid the passenger vehicles market shifting towards SUVs (Sports Utility Vehicles), with the new Dzire which is slated for launch next week. "We have been growing (exports) at a rate of about 11.9 per cent in the first seven months of the financial year and we hope to continue on that momentum. So we hope to do more than about 3 lakh car exports within this financial year," Maruti Suzuki India Executive Director Corporate Affairs Rahul Bharti told PTI here. In contrast, just about four years ago, the company's exports were below one lakh per year, he added. "So, now we'll be doing about three times of that,

Maruti Suzuki-backed Bharat Seats to issue bonus shares for shareholders

Bharat Seats Ltd has announced a bonus share issuance, granting one bonus share for each held share. This is the first bonus in over 17 years, pending shareholder approval

Suzuki Unveils the e-Vitara: First Electric SUV with ALLGRIP-e 4WD

Suzuki Motor Corporation has unveiled the e-Vitara, its first mass-production battery electric vehicle (BEV), making a bold entry into the global electric SUV market.

Maruti Suzuki eyes 850,000 export mark after historic high in October

EVs to play a key role in reaching 850,000 units in exports by 2030-31

PV wholesale up by 2% in Oct; retail sales posts 20% rise on festive push

Industry leaders Maruti Suzuki India and Tata Motors saw a decline in domestic wholesale sales of 5 per cent and 0.4 per cent, respectively

Auto majors Maruti Suzuki, Mahindra report best-ever October sales

The shift towards larger vehicles also impacted MSI's mini-segment cars and compact car sales

Maruti Suzuki, Tata Motors expecting record festive automobile sales

Led by robust demand in the festive period, Maruti Suzuki India and Tata Motors are looking to have record retail sales in October. The companies are also eyeing bumper deliveries to customers on Dhanteras. The country's largest carmaker, Maruti Suzuki, said it has delivered about 30,000 units to customers on Tuesday. "We are also expecting another 10,000 deliveries tomorrow. Last year we had witnessed registration of around 23,000 units," Maruti Suzuki India Senior Executive Officer (Marketing & Sales) Partho Banerjee told PTI in an interaction. He noted that the company is witnessing robust demand and is expecting deliveries of around 2 lakh units this month. "October is going be all-time high for us in terms of retail sales. It will be the highest ever. The earlier highest was 1,91,476 units in October 2020," Banerjee said. The bumber sales are also expected to bring down inventory levels for the company to around 30 days from the current 36-37 days, he noted. Tata Motors ...

Maruti Suzuki Q2FY25 results: Net profit falls 18% to Rs 3,102 cr

Maruti Suzuki India on Tuesday reported an 18 per cent year-on-year dip in consolidated net profit at Rs 3,102 crore for the second quarter ended September hit by the withdrawal of indexation benefit and change in the tax rate on long term capital gains on debt mutual funds. The country's largest carmaker had posted a net profit of Rs 3,786 crore in the July-September quarter of last fiscal. Total revenue from operations increased to Rs 37,449 crore for the second quarter as against Rs 37,339 crore in the year-ago period, Maruti Suzuki India (MSI) said in a regulatory filing. On a standalone basis, the company reported a net profit of Rs 3,069 crore for the September quarter, down 17 per cent as compared with Rs 3,716 crore in the same period last year. Net sales of the company stood at Rs 35,589 crore against Rs 35,535 crore in the same quarter last year. MSI said it sold a total of 5,41,550 vehicles during the July-September quarter, of which the domestic market volume stood at

Maruti Suzuki shares drop 6% as Q2 nos miss estimates; profit down 17% YoY

The fall in Maruti Suzuki share price came after the company's Q2FY25 results fell short of estimates

Q2 results today: Maruti, Cipla and Adani among 139 firms to post earnings

Q2FY25 company results: Adani Ports, Adani Enterprises, Canara Bank, Muthoot Capital, and SBI Cards and Payment Services will be releasing their second-quarter earnings report on October 29

Maruti Suzuki Q2 Preview: Revenue may jump up to Rs 37,811 crore YoY

In September 2024, Maruti Suzuki reported total sales of 184,727 units, comprising 148,061 units in domestic sales, 8,938 units sold to other OEMs, and 27,728 units in exports

GST appeals authority upholds notice of Rs 139 cr against Maruti Suzuki

Maruti Suzuki India (MSI) on Wednesday said a Haryana GST appeals authority has upheld a tax demand of Rs 139.3 crore against the company. "The Commissioner (Appeals) has passed an order for period July 2017 to August 2022 upholding the demand of Rs 1,393 million, in matter of tax liability under reverse charge basis on certain services," MSI said in a regulatory filing. The company had paid the tax amount before the issuance of show cause notice dated September 28, 2023, it added. The country's largest carmaker said it will be filing an appeal against the appellate order before the Tribunal. The order will have no major impact on the financial, operational or other activities of the company, it added. Maruti Suzuki shares on Wednesday ended 0.35 per cent up at Rs 11,963.15 apiece on BSE.

Nifty Auto skids 3% as Sept passenger vehicle sales slow, CV sales fall

Nifty Auto index declined 2.7 per cent in trade today amid a slowdown in PV sales and fall in CV sales

Hyundai India deserves valuation premium to Maruti, says Nomura note

Korean automaker's Indian unit expanding market share and benefits from being part of larger Hyundai Motor Company, it says

Maruti Suzuki to set up 25,000 EV charging stations ahead of eVX launch

Maruti plans to price the eVX between Rs 20-25 lakh and aims to sell 3,000 units within the first three months of its release

Maruti to M&M, carmakers in the fast lane to roll out festival discounts

Based on industry data, the average discounts by the top 13 players in 2023 were Rs 34,630, which increased to Rs 38,816 so far in 2024

Maruti Suzuki Swift CNG launched in India, Check features, engine, and more

The new Swift CNG has been launched in India with a starting price of Rs 8.19 lakh. The carmaker discontinued diesel models and aims to sell over six lakhs in FY 2024-25

Maruti Suzuki targets to sell 600K CNG vehicles this fiscal: Official

Maruti Suzuki India is looking to sell around 6 lakh CNG vehicles in the current fiscal, an increase of around 25 per cent as compared to FY24, according to a senior company executive. The country's largest carmaker company on Wednesday expanded its CNG model range as it rolled out its premium hatchback Swift with S-CNG trims. "This fiscal we are targeting to sell around 6 lakh CNG units. We ended last year with sales of around 4.77 lakh units," Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Partho Banerjee told PTI in an interaction. In the April-August period this fiscal, the auto major has so far sold 2.21 lakh units, he added. The new Swift comes in three variants priced at Rs 8.19 lakh; Rs 8.46 lakh and Rs 9.19 lakh respectively. Banerjee said the S-CNG trims deliver a fuel-efficiency of 32.85 km/kg. "The company pioneered the production of CNG vehicles in India back in 2010. Since then, we have sold over 2 million S-CNG vehicles to date, contributing to

Will Maruti put India's EV mission on fast lane? MSIL MD & CEO believes so

Japanese carmaker wants 'sustainable' growth in electric car market by addressing three major concerns