Maruti Suzuki (MSIL) sped past a green milestone, surpassing 2 million car deliveries via Indian railways. This makes them the first Indian automaker to achieve this eco-feat, the company said Monday. Rail usage soared over 600%, with dispatches jumping from 65,700 units (FY 2014-15) to 447,750 units (FY 2023-24). This shift translates to an estimated … Read more
Maruti Suzuki India plans to utilise Indian Railways to transport 35 per cent of the vehicles produced across its factories over the next 7-8 years, according to MD and CEO Hisashi Takeuchi. The share of vehicle dispatches through railways scaled to 21.5 per cent in the 2023-24 fiscal from 5 per cent in 2014-15. The … Read more
ET Intelligence Group: Nifty 50 companies are expected to report double-digit growth in aggregate revenue and profit for the June quarter, driven by select companies from the automobile, banking and finance, and pharmaceutical sectors. According to ETIG estimates, the sample’s net profit is expected to grow 26.4% in the quarter. Cautiously Optimistic Outlook This growth … Read more
New Delhi: Automakers have taken the lead in salary increases among all sectors in India, handing out double-digit hikes to their employees for fiscal 2024 amid a robust growth in sales, a Deloitte survey shows. “Automotive OEMs are projecting the highest salary increments across all sectors in 2024, which is 100-140 basis points (or, 1-1.4 … Read more
Passenger vehicle sales in India stayed in the slow lane for the third straight month in June mainly due to a high base and easing of post-pandemic pent-up demand. June sales rose 3.7% from a year earlier but fell marginally from May. As per industry estimates, 340,784 cars, sedans and utility vehicles were sold last … Read more
BENGALURU: Carmakers Mahindra & Mahindra and the Indian units of Toyota Motor Corp and Kia Motor reported higher car sales in June, boosted by demand for sports utility vehicles (SUV) even as heat waves weighed on purchase decisions. Each month, automobile makers in India release wholesale numbers, or vehicle sales, to dealers. The sales numbers … Read more
Automaker Maruti Suzuki India on Monday reported a 12 per cent increase in total wholesales to 1,79,228 units in June. The company had dispatched 1,59,418 units to its dealers in the same month last year, Maruti Suzuki India (MSI) said in a statement. The total domestic passenger vehicle sales were 1,37,160 units last month compared … Read more
Car discounts have made a return after four years of long waitlists, driven by changes in the automotive industry’s pricing strategies. Dealers are ramping up production to meet high demand, particularly for SUVs, and are offering substantial discounts across various models. Discounts are available on a range of vehicles, including hatchbacks, sedans, and electric vehicles … Read more
Mumbai: Wholesale volumes across various segments of the automobile industry in June 2024 are anticipated to reflect a subdued trend, primarily attributed to the absence of wedding dates, according to Anand Rathi report. Analysts project a mixed performance with two-wheeler (2W) volumes showing resilience, while passenger vehicles (PVs) and commercial vehicles (CVs) are expected to … Read more
India’s equity frenzy has attracted a global biggie which wants to ride on the high investor sentiment. Hyundai Motor India Ltd. (HMIL), the country’s second-largest car maker, is coming out with a Rs 25,000 crore IPO, which could be India’s biggest ever, in the next four to six months and will see the South Korean … Read more
