Page 4 - Maruti Suzuki

'Maruti Suzuki may fall short of 2 mn units production target this FY'

Maruti Suzuki India's challenge to produce 20 lakh units this fiscal may fall slightly short, according to company Senior Executive Officer, Marketing & Sales Shashank Srivastava. He, however said, the company is still counting on an outside chance to meet the challenge through execution of its pending orders that stands at around 3.75 lakh units. Earlier in August this year, Maruti Suzuki India Chairman RC Bhargava, in his address to shareholders in the company's annual report for 2021-22 had stated that the company will increase its production and will challenge to produce 20 lakh units in the ongoing fiscal with semiconductor availability improving. He has said that the new midsize SUV, Grand Vitara, was expected to play a key role in the challenge to touch 20 lakh units. "By our current calculation, I think it should be slightly short of that number," Srivastava told PTI when asked if the company was on track to challenge the target. He, however, said a lot would depend on how

Maruti Suzuki to hike prices of its models from January amid cost pressure

The country's largest carmaker Maruti Suzuki India on Friday said it will increase prices of its models with effect from next month. In a regulatory filing, the company said it continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase, it added. The company has planned the price increase in January 2023 which shall vary across models, the auto major said without disclosing the exact quantum of the increase.

Maruti Suzuki plans price hike in Jan due to inflation-led cost pressure

Maruti Suzuki said the price hike would vary across models

Maruti Suzuki India records 14% increase in Nov sales at 159,044 units

The country's largest carmaker Maruti Suzuki India on Thursday reported 14 per cent increase in total wholesales at 1,59,044 units in November. The company had dispatched 1,39,184 units to dealers in November 2021, MSI said in a statement. Last month, the company's domestic sales rose 18 per cent to 1,39,306 units as against 1,17,791 units in November 2021, it added. Sales of mini cars, comprising Alto and S-Presso, increased to 18,251 units as compared with 17,473 in the same month last year. Similarly, sales in the compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, rose to 72,844 units as against 57,019 cars in November 2021. Sales of mid-sized sedan Ciaz increased to 1,554 units as compared with 1,089 units in November last year. Utility vehicle sales, including Vitara Brezza, S-Cross and Ertiga, rose to 32,563 units as compared with 24,574 vehicles in the year-ago month, MSI said. Exports declined to 19,738 units as against 21,393 units in the

Honda Cars ties up with Maruti Suzuki Toyotsu for vehicle scrapping

Honda Cars India on Monday said it has tied up with Maruti Suzuki Toyotsu for vehicle scrapping. The initiative will allow Honda to offer its customers an end-to-end solution for scrapping their End of Life Vehicles (ELVs). With this tie-up, the Japanese automaker strives to assist its customers to get the best value for their ELVs and facilitate hassle-free deregistration and issue of Certificate of Deposit/ Destruction through its dealer partners, Honda Cars India Ltd (HCIL) said in a statement. Maruti Suzuki Toyotsu India (MSTI) is a government-approved ELV scrapping and recycling company, which is setting up scrap and recycling centres in the country. The service alliance will begin in Delhi NCR, Haryana and Uttar Pradesh. The coverage area will expand with the addition of new scrappage centres by MSTI in future. "The Vehicle Scrappage Policy by Government of India stipulates scrappage and deregistration of old vehicles to promote phasing out of unfit vehicles from the roads,

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Maruti Suzuki expects to end current fiscal with 3,700 sales outlets

Maruti Suzuki India expects its sales network to touch the 3,700-mark by the end of this fiscal amid a push to ramp up production capacity at its Manesar-based plant by 1 lakh units to cater to enhanced demand, according to a senior company official. The country's largest carmaker on Friday crossed the 3,500 car sales outlets mark, more than doubling it from 1,300 dealerships a decade ago. The auto major inaugurated its 3,500th outlet, a Nexa sales unit, in Hyderabad on Friday. Maruti Suzuki India currently has presence in around 2,250 cities and towns in India. The company added 237 sales outlets in 2021-22 and further 170 outlets between April-October this fiscal year. "We are likely to touch the 3,700 outlets mark by March-end," Maruti Suzuki India (MSI) Senior Executive Officer, Marketing & Sales, Shashank Srivastava told PTI when asked about the company's network expansion plans. The company's push to enhance sales infrastructure across the country reflects the expected ...

Maruti Suzuki joins hands with IIT Bombay to drive innovation programmes

Maruti Suzuki India on Thursday said it has partnered with Indian Institute of Technology, Bombay to drive innovation programmes for startups. The auto major said it has inked a memorandum of understanding (MoU) with Society for Innovation & Entrepreneurship (SINE), IIT Bombay to expand the reach of its innovation programs for startups. As part of the three-year MoU, SINE will support in outreach and incubation of potential startups who can be part of Maruti Suzuki's innovation programs, it added. As part of the initiative, Maruti Suzuki and SINE will jointly shortlist startups for some of the complex business problems identified by the company. They will together screen applications, organise workshops with mentors, industry experts and investors. "Our efforts to engage startups aligns with Prime Minister's mantra of 'Sabka Prayas' to make India a global manufacturing hub. Our tie-up with IIT Bombay is an effort in this direction," Maruti Suzuki India Managing Director & CEO .

Brokerages see margin expansion at auto firms as outlook turns positive

Higher volumes and softer raw materials to drive expansion

Hatchback sales lose momentum in India due to changing consumer preference

Hatchbacks like WagonR and Alto have seen a decline during the past few years due to changing consumer preference

Maruti's share in Suzuki's sales revenue jumps to a 7-year high

Suzuki holds a 56.37 per cent stake in Maruti Suzuki

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Maruti chalks out road to FY24 with 2.4-million production capacity

Maruti Suzuki chairman R C Bhargava says that each year the company, based on workers' suggestions, has saved around Rs 300 crore in costs

Maruti Suzuki may boost Manesar plant capacity by 100k units by April 2024

Maruti Suzuki India (MSI) may increase its Manesar plant production capacity by one lakh units to cater to the enhanced demand before its Sonipat facility commences operations in 2025, a senior company official said. The country's largest carmaker may also look at expanding production capacity at its Gurugram-based manufacturing facility to cater to the rising demand for its products. Currently, MSI has a cumulative production capacity of 15 lakh units per annum at both Manesar and Gurugram plants. It additionally has access to 7.5 lakh units from parent Suzuki Motor's facility in Gujarat. The company has already commenced work at the new facility in Kharkhoda in Haryana. The plant is expected to be operational by 2025 with an installed production capacity of 2.5 lakh units in the first phase. "As of now, we have about 22.5 lakh capacity in Haryana plus Gujarat...And in times to come, we are in process of working on the Kharkhoda plant, which will be up and running in the year ...

Maruti Suzuki lines up over Rs 7k cr capex for current financial year: CFO

Maruti Suzuki India plans to invest over Rs 7,000 crore this year on various initiatives, including the construction work of its new plant in Haryana and new model launches, according to company CFO Ajay Seth. The country's largest carmaker has already commenced work at the new facility in Sonipat district. The Kharkhoda-based plant, the company's third set-up in the country, is expected to be operational by 2025 with an installed production capacity of 2.5 lakh units in the first phase. Currently, Maruti Suzuki India (MSI) has a cumulative production capacity of over 22 lakh units per annum across its two manufacturing plants in Haryana and parent Suzuki Motor's facility at Gujarat. The two plants in Haryana -- Gurugram and Manesar -- together roll out around 15.5 lakh units per annum. In May, the auto major had announced to invest Rs 11,000 crore in the first phase of the Sonipat facility. "We will be spending upwards of Rs 7,000 crore this year," Seth said in an analyst ...

Maruti Suzuki India crosses 25 million cumulative production milestone

Maruti Suzuki India (MSI) on Wednesday said it has crossed 2.5 crore cumulative production mark. MSI started production in December 1983 and crossed the 10-lakh production mark in March 1994. It crossed 1- crore mark in March 2011 and 2-crore milestone in July 2018. Its first production facility came up in Gurugram, Haryana. The company now has two manufacturing plants in Gurugram and Manesar in Haryana, with an installed production capacity of 15 lakh units per annum. The company sells 16 passenger vehicles in the domestic market and also exports to around 100 countries. "2022 marks 40 years of Suzuki's partnership with the people of India. Crossing 25 million cumulative production milestone this year is a testimony of Suzuki's continued commitment and partnership with the people of India," MSI Managing Director and CEO Hisashi Takeuchi said in a statement. Going forward, the automaker will continue to introduce new products in the market, he added. "Anticipating growing deman

Maruti Suzuki's total sales rise 21% to 167,520 units in October

Automaker Maruti Suzuki India Ltd (MSIL) on Tuesday reported a 21 per cent increase in total sales at 1,67,520 units in October. The company had sold a total of 1,38,335 units in the same month last year, it said in a statement. Total domestic passenger vehicle sales were at 1,47,072 units in October as compared to 1,17,013 units in the year-ago month, registering a growth of 26 per cent. Sales of mini segment cars, comprising Alto and S-Presso, grew to 24,936 units as against 21,831 units in October 2021. Sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR, rose to 73,685 units last month as compared to 48,690 units in the year-ago month. According to the statement, utility vehicles consisting of Brezza, Ertiga, S-Cross and XL6 clocked sales of 30,971 units last month as compared to 27,081 units in the same period a year ago. Last month, sales of Eeco were at 8,861 units as against 10,320 units in October 2021 while that of light commercial .

Huge business potential in India, says Maruti Suzuki MD Hisashi Takeuchi

'We are celebrating 70 years of our cooperation. We have a long history of progression between the two countries'

Maruti Suzuki India Q2 net profit jumps 334% YoY to Rs 2,112 crore

Chip supply resolution, favourable forex rate and record sales drive growth

Maruti Suzuki's Q2 suggests a big bounce for auto sector stocks

Revenue and net profit both were ahead of consensus estimates