Page 19 - Maruti Suzuki

Hyundai's dealers most satisfied, Maruti at number 2: Fada survey

Kia, which topped the survey in 2022 and 2021, slipped to fifth place in this year's assessment

Maruti partners with Indian Bank to provide financing solutions to dealers

Maruti Suzuki India Ltd on Thursday said it has partnered with Indian Bank to provide financing solutions to its dealers. The two parties have signed a Memorandum of Understanding (MoU), which will empower over 4,000 Maruti Suzuki dealerships across the country with comprehensive inventory funding options for their working capital requirements, the company said in a statement. "This alliance with Indian Bank will strengthen relationships with dealer partners and ensure a seamless car buying experience for customers," Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Shashank Srivastava, said. "The goal all along has been to work closely with Indian Bank in developing personalised offers and end-to-end working capital solutions for our dealer partners across the country," he said. Indian Bank Executive Director Ashutosh Choudhury said the bank's supply-chain finance will provide easy access to working capital finance to Maruti Suzuki dealers, at favourable terms ...

Maruti, Hyundai say diesel PV sales may dip with stricter emission norms

Leading carmakers Maruti Suzuki India and Hyundai Motor India on Tuesday said the percentage of diesel cars in passenger vehicle sales is expected to come down with stricter emission regulations, increasing the cost of ownership. On a day when Union Road Transport and Highways Minister Nitin Gadkari spoke of the need to levy an additional 10 per cent tax on diesel-run vehicles to help cut emissions, although clarified that there is no proposal under the government consideration to impose such a tax, the automakers pointed out that already sales of diesel passenger vehicle have been declining. "It is a natural phenomenon that as the emission regulations keep tightening, the cost of acquisition will keep increasing, and this process (decline in diesel vehicle percentage) will be much faster going forward," Maruti Suzuki India Senior Executive Officer (Marketing & Sales) Shashank Srivastava told reporters here on the sidelines of SIAM annual convention. Most manufacturers have ...

Industry needs to match govt steps taken in last 9 yrs: RC Bhargava

The government has taken several steps in the last nine years to resolve issues that were coming in the way of Indian industry and the latter needs to match what has been done, according to Maruti Suzuki India Chairman RC Bhargava. In order to grow faster and become globally competitive, the Indian industry also has to look at itself and see what could be done to improve overall efficiency, productivity and cost control, he told PTI. "The bigger opportunity for Indian industry has been created by what the government has been doing over the last nine-ten years. So many of the problems which are coming in the way of industry in the past have been resolved. Bhargava, however, acknowledged that there is much work to be done. He was responding to a query on what must the Indian industry do in order to cash in on the opportunity created by India's G20 Presidency. Bhargava further said, "I think Indian industry now needs to recognise that it cannot always keep blaming the government for

Aug auto sales: Maruti scales new high; M&M m-cap nears Rs 2 trillion

Maruti Suzuki (up 4% at Rs 10,390) and M&M (up 2% at Rs 1,604.55) hit their respective new highs, and rallied up to 9% in the past five days as compared to a less than 1% rise in the S&P BSE Sensex.

Maruti to Amul: Disney Star onboards 18 sponsors for Asia Cup 2023

Asia Cup 2023 is set to take place from August 30 to September 17 and the tournament will be broadcast live on Star Sports Network and Disney+ Hotstar

Maruti Suzuki to invest Rs 45,000 crore to double capacity in 8 years

Company chairman Bhargava defends decision to issue equity shares on preferential basis to parent Suzuki Motor Corporation

Maruti Suzuki India appoints Schneider's executive Arnab Roy as CFO

Roy to take charge as CFO from January 1, 2024

Maruti Suzuki India announces appointment of Arnab Roy as CFO Designate

Maruti Suzuki India on Tuesday announced appointment of Arnab Roy as CFO Designate with effect from October 16, 2023. He will succeed present CFO Ajay Seth who will retire at the end of this year. Seth shall be superannuating from the post of wholetime CFO of the company with effect from close of business hours of December 31, 2023, Maruti Suzuki India said in a regulatory filing. The board in its meeting held on Tuesday approved the appointment of Roy as CFO Designate from October 16, 2023 and wholetime CFO from January 1, 2024, it said. After his superannuation, Seth will continue to be a Member - Executive Board (MEB), the filing said. Roy has 26 years of experience with US, British and French MNCs handling all aspects of Finance & Accounts, the company said. Since January 2022, he has been serving as Zone Chief Financial Officer for Greater India Region covering all Schneider businesses. He earned his bachelor's degree in Economics, Statistics and Maths from Ranchi Universi

Arnab Roy to be Maruti Suzuki's new CFO from January 1, Ajay Seth to retire

Ajay Seth, current CFO of the company, will step down from his post on December 31 on account of superannuation

Maruti Suzuki plans to double production capacity to 4 mn over 8 years

The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at the annual general meeting of the carmaker

Maruti Suzuki India to double car dispatch through rail in three years

In the last eight years, MSIL increased its car dispatches by five times. In FY15, the company had transported just 65,700 units by rail

Leader as challenger: What does Maruti's EV onslaught mean for Tata Motors?

"We will have at least six models and will start from the premium end, maybe with a sports utility vehicle," says R C Bhargava, Chairman, Maruti Suzuki India

Strong market demand may return best-ever car sales this festive season

The festive season starts around August with Onam and Rakhshabandhan and concludes with Diwali in November

Maruti to issue preferential equity shares to Suzuki to buy Gujarat plant

MSIL has a cash balance of about Rs 46,000 crore, so certain proxy advisory firms were expecting a cash deal instead of a share swap deal

Maruti expected to launch 10 new models in next 8 years: Bhargava

"We expect the demand for exports to continue to grow and export volumes are projected at 750,000-800,000 cars by FY31," he mentioned

Maruti 3.0: To add 2 mn units per annum capacity in 9 yrs, says RC Bgargava

Maruti Suzuki India is kicking off 'Maruti 3.0' targeting to add another 20 lakh units production capacity in nine years with about 28 different models in the market by FY31, according to the company's Chairman R C Bhargava. As SUV sales continue to gain momentum in India with no prospects of demand for the smaller entry-level car market recovering to the growth rates of the past, the company, known for its small cars, is now restructuring its production facilities to "conform to the realities and what we are projecting for the future", he said in his address to the company's shareholders in the Annual Report for 2022-23. Bhargava also said while the Indian car industry is not expected "to grow in double digits, like what happened in China in the past, we do expect that a 6 per cent growth rate will be maintained till FY 2030-31". Highlighting the steps taken by the company to meet future demand, he said, "What is now being planned can be said to be the start of 'Maruti 3.0'. Our ..

Maruti's share in parent Suzuki's revenues reached highest ever in Q1FY24

The Indian economy, on the other hand, has been performing well and auto sales have remained robust

Maruti Suzuki entry-level hatchback Alto crosses 4.5 million sales mark

Maruti Suzuki India (MSI) on Thursday said its entry-level hatchback Alto has crossed the 45 lakh sales milestone. The company first introduced the model in the year 2000 and by 2004 it became the country's highest-selling car. It crossed the 10 lakh sales mark in 2008; 20 lakh in 2012; 30 lakh mark in 2016. In August 2020, the model crossed the 40 lakh sales mark. "Achieving the 45 lakh customer milestone is a testimony to the unwavering support and trust that our customers have placed in us," MSI Senior Executive Officer (Marketing & Sales) Shashank Srivastava said in a statement. The company is confident that brand Alto will continue to delight lakhs of more families with its undisputed legacy and exceptional ownership experience, he added.

Buyout impact, margin worries likely to cap gains for Maruti Suzuki

Brokerages expect 3-4% hit to earnings per share for FY25