The higher cost of buying a new car and weak sales in the low-cost model category impacted the company’s earnings substantially in the second quarter of FY20, Maruti Suzuki India Limited (MSIL) Chairman RC Bhargava said. It comes as the country’s largest car manufacturer reported a 24 per cent drop in sales in the first half of the ongoing fiscal. Volume sales during the quarter under review stood at 3,38,317 units, down 30.2 per cent as compared with the same period last fiscal.
Maruti Suzuki India Ltd (MSIL) said on Tuesday that it invested over Rs 154 crore towards its corporate social responsibility (CSR) initiatives during the financial year 2018-19.
The efforts were focused on community development, road safety, and skill development. These are aligned with the United Nations Sustainable Development Goals (SDGs) corresponding to good health and well-being,
Maruti Suzuki India (MSI), the country's largest carmaker, reduced its production for the eighth straight month, as the automobile sector continued to reel under a slowdown. The company cut its production by 17.48% in September.
The company produced a total of 1,32,199 units in September as against 1,60,219 units during the same month last year, Maruti Suzuki said in a regulatory filing.
Maruti Suzuki India ltd, the country’s largest vehicle manufacturer, on Monday launched its new entry-level hatchback S-Presso, at a price range of ₹3.69 lakh to ₹4.91 lakh. With muted sales over the last one year, the company will bank on the new product to revive its fortunes during the festival period and beyond.
After passing on benefits to buyers on select car models following the government's corporate tax reduction by reducing Rs 5,000 on ex-showroom price, Maruti Suzuki has now slashed the ex-showroom price of Baleno RS by Rs 100,000.
Following this massive reduction in Baleno RS cost, its ex-showroom price now stands at Rs 7.88 lakh.
NEW DELHI : The steps taken to reverse the economic slowdown, along with the upcoming festive season offers, might have the potential to accelerate the automobile sector's sales growth, industry insiders opined.
The trend of reduced prices on the back of recent corporate tax sops is expected to catch-up after car market leader Maruti Suzuki cut prices on Wednesday.
New Delhi: India’s biggest automaker, Maruti Suzuki India Ltd, expects sales of its cars in September to be higher than the previous month, its Chairman R C Bhargava told Reuters on Monday.
August domestic sales at Maruti Suzuki fell 34.3 per cent, one of the biggest monthly drops in sales in recent times. Indian auto sales fell for the 10th straight month in August, marking one of the worst slowdowns in the industry’s history.
Suzuki Motor Corp has asked Maruti Suzuki India to cut down discretionary expenses and plug in resource wastage at its plants in Gurgaon and Manesar to keep costs in control. The advisory from Suzuki, which is the 56% owner of Maruti, comes at a time when vehicle sales have plummeted to a two-decade low and Maruti has had to let go of some 3,000 of its contractual workers as it has pruned its production.
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