Shares of Maruti Suzuki and Mahindra & Mahindra (M&M) were trading in red in the morning trade on Wednesday after UK-based vehicle testing agency Global New Car Assessment Programme (NCAP) on Tuesday awarded zero star safety ratings to Maruti’s Celerio and Eeco models, as well as Mahindra’s utility vehicle Scorpio. Maruti Suzuki and M&M shares plunged as much as 3.57 per cent 2.17 per cent intraday.

New Delhi: India’s largest car maker Maruti Suzuki Ltd has created a new management level as it seeks to build management and leadership bandwidth for the future, three people familiar with the development said, asking not to be identified.

The car maker, which aims to sell 2 million cars in India by 2020 (it sold 1.43 million units in 2015-16), has promoted six executives to the newly created position of executive vice-president, the three people said, citing a 28 April memo by the company that Mint has not seen.

Maruti Suzuki shares surged as much as 4.20 per cent on Tuesday despite posting 11.7 per cent decline in net profit to Rs 1,133.6 crore for the fourth quarter ended March 31. Share price of the company surged after the automaker posted better-than-expected margins for the quarter ended March 2016.

At 1.43 pm, Share price of the company was trading 3.59 per cent up at Rs 3868.40. The scrip opened at Rs 3868.40 and has touched a high and low of Rs 3891.25 and Rs 3691.00, respectively, in trade so far.

Maruti Suzuki India has moved higher by 3.5% to Rs 3,833 on the BSE in otherwise range bound market tracking the weakness in the Japanese yen.

A weaker yen would improve Maruti's margins by reducing the costs of importing auto parts from Japan.

The shares of Maruti Suzuki India continued to be on a shaky wicket for the second consecutive day on Friday, falling more than 1%, on Japanese yen's strength against the greenback.

The yen's strength against the greenback is likely to put pressure on the company's margins.

Passenger vehicle makers, including Maruti Suzuki, Mahindra & Mahindra, Toyota and Mercedes got together to find a way forward in the wake of the Supreme Court ban on registration of diesel cars and SUVs of engine capacity of 2,000 cc above in the capital and NCR.

A final decision wasn’t taken on the road map and the top executives of the companies have agreed to meet later this week on how to address the issue over environmental compensation cess (ECC) as directed by the Supreme Court, according to industry sources.

Shares of Maruti Suzuki have been hammered by investors of late. The stock has fallen 21 per cent over the past three months due to rising concerns over capacity crunch and lower margins. The delay in the Gujarat plant will impact the company’s ability to meet new demand in the new financial year (FY17). The sharp fall in operating margin in the December 2015 quarter also impacted the stock’s performance. Sequentially, Maruti’s operating margin fell 190 basis points (bps) to 14.4 per cent. The Street now expects margins to deteriorate further.

Religare Institutional Equities has factored in lower volumes and margins for the company after its December 2015 quarter numbers.

Mahindra & Mahindra, country's largest utility vehicle manufacturer, today launched the Nuvosport, a multi-seater UV which is a redesigned Quanto. The vehicle is priced at Rs 7.35 lakh (ex-showroom, Thane).

The vehicle is less than 4 meters in length and will compete against Maruti Suzuki Vitara Brezza, Ford EcoSport, Mahindra TUV300 and KUV100.

NEW DELHI: Country's largest car maker Maruti Suzuki India (MSI) today posted a 15.9 per cent rise in total sales in March at 1,29,345 units as against 1,11,555 units in the same month last year.

The company's domestic sales increased 14.6 per cent during the month to 1,18,895 units as against 1,03,719 units in March 2015.

Consumers who bought the 1.6-litre variant of Maruti Suzuki’s premium crossover, the S-Cross, will get a refund of up to Rs 90,000 from the company. Over and above this, they will also get an extended warranty. Buyers of the 1.3-litre variant will just get the extended warranty. Maruti slashed the price of the model by up to Rs 2.05 lakh with effect from January, so the company wants to offer the refund to buyers who had purchased the car before that as “a token of gratitude”.

The exact extent of the refund will depend on what kind of discounts were offered to consumers who bought this variant of the S-Cross before January 1, 2016.

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