Maruti Suzuki India today said it will set up an industrial training institute in Mehsana, Gujarat which when operational would train 300 youths per year in technical trades and Japanese shopfloor practices.

Christened as “Japan-India Institute of Manufacturing” (JIM), the institute would go on stream in August 2017.

Japan's Suzuki Motor Corp will invest about 100 billion yen ($970.97 million) in a second vehicle production line at its new plant in Gujarat, even before operations have begun, the Nikkei business daily reported on Friday.

The second line could debut in early 2019, the report said, and will manufacture the same yearly volume as the first production line, which is slated to debut in 2017.

Country's largest car maker Maruti Suzuki today reported a low single digit domestic growth of 2.2 per cent in October, the last month of festive season. The company said production in October was impacted by fewer production days due to holidays.

Domestic sales stood at 123,764 units last month. Domestic volume in seven months ending October grew 10.5 percent to 750,026 units. Total October volume including exports declined 0.3 per cent to 133,793 units. Total volume in seven month period grew 8.7 per cent to 828,883 units.

Maruti Suzuki posted a net profit of Rs 2,398 crore in the quarter-ended September 2016, up 61.4% from the Rs 1,486 crore posted in the preceding quarter.

Compared to the net profit in the same period last year (Rs 1,497 crore), the July-September net profit was up 60.2%.

Maruti Suzuki India hit a new high of Rs 5,775, up 1% on BSE in intra-day trade on BSE, ahead of its July-September quarter (Q2FY17) earnings on Thursday, October 27, 2016.

In past three-months, post April-June quarter (Q1FY17) results, the stock outperformed the market by gaining 27% as compared to 0.18% decline in the S&P BSE Sensex. The S&P BSE Auto index was up 7% during the same period.

HDFC ERGO General Insurance Company, India’s leading private sector non-life insurance provider, announced the tie-up with Maruti Insurance Broking Private Limited, India’s largest provider of motor insurance brokerage services, to offer motor insurance products to buyers of Maruti Suzuki cars.

This strategic alliance will now enable instant policy issuance and efficient claims settlement services to Maruti car owners.

With a bumper Navratri behind them, carmakers are gearing up for a big Diwali. Dealers for the country’s top two players — Maruti and Hyundai — told FE retail sales have risen 15-16% during the nine-day-long festival driven by fairly chunky discounts. Channel checks by Bank of America Merrill Lynch reveal retail sales are 10-15% higher for most passenger vehicle makers.

Country's largest carmaker Maruti Suzuki India (MSI) said its premium hatchback Baleno has crossed one lakh cumulative sales milestone in the domestic market in less than one year of its launch.

The auto major had launched Baleno in India on October 26 last year. Besides domestic sales, the company has shipped out 33,800 units of the car to various markets across the globe, including Japan and Europe.

Maruti Suzuki India has hit a new high of Rs 5,720, up 4.4% on the National Stock Exchange (NSE) in early morning trade after the company reported a strong 31% year on year (YoY) growth in its passenger vehicle sales in September 2016 at 149,143 units, on the back of highest-ever domestic sales.

The company had sold a total of 113,759 units in September 2015, Maruti Suzuki India said in a statement.

Maruti Suzuki, the country’s biggest car maker, has reported its best ever monthly sales in September, growing over 29 per cent in the domestic market as dealers stock vehicles for deliveries in the festive season beginning on Saturday. Maruti’s growth will drive the industry to a strong double digit growth in September.

The company, which enjoys a 47 per cent share in the Indian market, sold 137,277 vehicles last month against 106,083 units in the same month last year. All segments of the company have grown by double digits, though the bulk of the growth has come from its utility vehicle segment which includes its latest product, Brezza.

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