Analysts, however, believe investors may adopt 'buy on dips' strategy for the pack as overall sales growth is expected to remain steady going forward
Must consider alternatives like flex fuel and hybrid, says president of Japanese auto giant
Maruti Suzuki also displayed its range of 'sustainable' cars like the WagonR Flex Fuel prototype, Brezza S-CNG and Grand Vitara Intelligent Electric Hybrid at the Expo
Maruti Suzuki India's production in December 2022 was lower by 17.96 per cent at 1,24,722 units, according to a regulatory filing by the company. The company had a total production of 1,52,029 units in the same month a year ago. Production in mini cars and compact segment, comprising models such as Alto, S-Presso, Baleno, Celerio, Dzire, Ignis, Swift and WagonR, was lower at 83,753 units last month as compared to 1,06,090 units in December 2021. Production of utility vehicles, including Brezza, Ertiga, Jimny, S-Cross and XL6, was also lower at 27,303 units as compared to 31,794 units in the year-ago month, the filing added. Light commercial vehicle Super Carry's production stood at 587 units as against 3,262 units in December 2021. In an interaction on Sunday, Maruti Suzuki India Senior Executive Officer, Marketing & Sales Shashank Srivastava had said the company wanted to keep its stock at a very low level starting January. "We had to control the production because we wanted to
Closing Bell: Among sectors, the Nifty metal index was the top performer of the day, which jumped 2.4 per cent after global brokerage Jefferies changed its stance on the sector to 'positive'
Stocks to watch today: Tata Motors reported 10 per cent YoY increase in domestic December sales at 72,997 units as against 66,307 units sold last year
Maruti Suzuki India Ltd on Sunday reported a 9 per cent decline in total wholesales at 1,39,347 units in December 2022 compared to the year-ago month. The company had clocked a total sales of 1,53,149 units in the same month in 2021, Maruti Suzuki India (MSIL) said in a statement. Total domestic wholesales were at 1,13,535 units last month as against 1,26,031 units in December 2021, down 9.91 per cent, it added. Sales of mini cars comprising Alto and S-Presso were lower at 9,765 units as compared to 16,320 units in the year-ago month. Similarly, sales of compact cars consisting of models such as Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR were lower at 57,502 units as against 69,345 units in December 2021, it said. On the other hand, utility vehicles such as Brezza, Ertiga, S-Cross, XL6 and Grand Vitara clocked higher sales last month at 33,008 units as against 26,982 units in the year-ago period. "The shortage of electronic components had some impact on the productio
So far in calendar year (CY22), frontline indices Nifty50 and the S&P BSE Sensex have climbed around 4 per cent each, as against 10-20 per cent fall in most of the global indices
Some firms braved the headwinds and stepped on the gas, others played it safe; green energy turned a bright spot
With increasing congestion across cities in India, Maruti Suzuki India expects sales of its vehicles with auto gear shift to pick up further next year, according to company Senior Executive Officer, Marketing & Sales Shashank Srivastava. The company had introduced the auto gear shift (AGS) technology that relieves drivers from manually changing gears using the clutch, for the first time in 2013-14 on its hatchback Celerio. It has cumulatively sold 7.74 lakh units of such vehicles across its portfolio so far. "After we introduced AGS, slowly we have expanded it in so many of our models. We do believe that with increased congestion, especially in urban areas, AGS is a further addition to the ease of driving. So we believe technology will pick up even further," Srivastava told PTI. The company has nine models -- Celerio, Alto K10, WagonR, Dzire, Ignis, Swift, Brezza, S-Presso and Baleno -- which come with the AGS option. In terms of AGS penetration, he said, "It varies between 12 per
Maruti Suzuki India Ltd on Thursday said it has signed a five-year pact with Kamarajar Port Ltd for export of its passenger vehicles to international markets. Under the agreement starting December 2022, Kamarajar Port will be used for exports to Africa, Middle East, Latin America, ASEAN, Oceania and SAARC regions by the company, Maruti Suzuki India Ltd (MSIL) said in a statement. The port will be used to export around 20,000 cars annually. A car-cum-general cargo berth has been developed and commissioned by Kamarajar Port Ltd for handling automobile units, it added. "The start of exports from the Kamarajar Port will help us reach out to a wider base of customers. This initiative will also help to decongest the Mumbai Port, Mundra Port and Pipavav Port used by the company to export vehicles at present," MSIL Managing Director & CEO Hisashi Takeuchi said. He further said the company's expanding export operations reflect its commitment to "offer reliable, high quality, ...
The taxes on motor vehicles in India have historically been among the highest in the world and need to be rationalised, MSIL Chairman RC Bhargava said at an event on Monday.
Bhargava adds that the cost of regulatory compliance (like implementing BS 6 n norms )-especially on smaller and cheaper cars has been going up
The levies by the Indian govt have made purchasing vehicles expensive for the population, said RC Bhargava, Maruti Suzuki's chairman
Car-industry growth in India has slowed to 3% from 12% in the past twelve years, partly due to poor government policies, Bhargava said
The taxes, however, should not be the same for different types of cars as the "regulatory burn" on small cars is higher than on bigger cars in India
The free-to-use prototype has been trained on a massive amount of text data and uses deep learning algorithms to generate natural language text similar to human writing
Stocks to watch today: ICICI Bank raised Rs 5,000 crore through bonds to fund business growth; Dalmia Bharat acquired cement assets of Jaypee Group's company for Rs 5,666 crore
Maruti Suzuki India on Tuesday said it is recalling 9,125 units of its models Ciaz, Brezza, Ertiga, XL6 and Grand Vitara to fix possible defects in a part of the front row seat belts. The affected vehicles were manufactured between November 2-28, 2022, Maruti Suzuki India said in a regulatory filing. "It is suspected that there is a possible defect in one of the child parts of shoulder height adjuster assembly of front row seat belts, which in a rare case, may lead to seat belt disassembly," it said. The company said it has decided to recall the suspected vehicles for inspection and replacement of the faulty part, free of cost. "Affected vehicle owners will be receiving communication from the company's authorised workshops for immediate attention," it said.
Stocks to Watch Today: SBI too may be in focus after the PSU bank successfully raised Rs 10,000 crore via its maiden infrastructure bonds.