MARUTI SUZUKI

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• Cost of hybrid tech is high, Suzuki Japan working to make it affordable for India, says RC Bhargava

  Maruti Suzuki's Chairman RC Bhargava shared that the costs of today's technology which goes into the Toyota hybrids is still quite high and Maruti's parent company Suzuki Motor Corporation is working on developing affordable hybrid technology for India. Talking about FY25, Bhargava says the car industry can look forward to a year which is "pretty good in all aspects". Maruti will start the production of its first EV in the current financial year.

  

• Maruti Suzuki reports 47.8% surge in Q4 net profit driven by strong sales & product mix

  Net sales of the company rose 19% to INR 36,697.5 crore in the three months to March 2024. Total expenses went up by 16.3% to INR 34,355.1 crore in the same period.

  

• Maruti Suzuki Q4 Preview: PAT may rise 52% YoY on higher sales, strong volumes

  Revenue growth year-on-year to be supported by robust volume growth and increase in realizations. EBITDA margin to expand on better net pricing and scale. Key thing to watch out for is demand outlook, especially for rural/ entry level segments.

  

• Large utility vehicles race past compact cars in growth lane

  While compact SUV models - defined as per body type and ground clearance - are driving the surge in the overall passenger vehicle market on account of their larger share in absolute terms, bigger UVs are fast catching up.

  

• India's love for sub-4 metre compact cars fades as SUVs gain ground

  India's preference for compact vehicles under 4 meters in length is declining, with their market share dropping from 62% in 2021 to 50% in 2023. The number of models in this segment has also decreased. Shifting consumer tastes, including a preference for larger vehicles, are prompting automakers to rethink strategies. The popularity of entry-level SUVs has grown, overlapping with premium hatches and sedans. New safety requirements and challenges in designing small cars are also affecting the market. Urban incomes and easy financing options are driving the trend towards premiumization.

  

• Prices of discretionary products like cars, TVs, phones begin to firm up

  Car manufacturers like Maruti Suzuki, Honda Cars India, Toyota Kirloskar Motor and Kia India have just raised vehicle prices, mostly on fast-moving models, by up to 3% due to increase in commodity costs and adverse forex movement. Other manufacturers are also evaluating such a hike.

  

• Tesla advisor joins India’s first consultative meeting on new EV policy

  According to multiple people who were part of the meeting, the representative from The Asia Group did not make any comments during the consultative meeting and maintained he was there as ‘an observer’. The meeting comes days ahead of Tesla chief Elon Musk’s visit to India.

  

• Discounts, freebies drive in as automakers seek to push sales

  Carmakers in India are offering discounts and freebies to attract new buyers and clear record inventory levels. Dealership stock reached an all-time high of 310,000 vehicles at the start of the financial year, leading companies to push sales by expanding into smaller towns and cities. This could be the first price war since the easing of the pandemic.

  

• Maruti Suzuki to appeal in SC against INR 2.5 cr liability order from CESTAT, Chandigarh

  The company said that the order was received on 16th April 16, 2024, in matter of service tax liability under reverse charge basis on certain services that have been partially allowed.

  

• Maruti Suzuki applies for Bharat-NCAP safety ratings for some vehicles

  Maruti Suzuki has applied for Bharat New Car Assessment Programme (Bharat-NCAP) safety ratings for select vehicles, following Tata Motors' SUVs Safari and Harrier, which received 5-star ratings last year. Bharat-NCAP, launched in August, aims to enhance vehicle safety standards beyond mandatory regulations, aligning with global benchmarks.

  

• Maruti Suzuki hikes prices of Swift and Grand Vitara variant

  The Swift which currently ranges between INR 5.99 lakh and INR 9.03 lakh has received a price hike of up to INR 25,000, and Sigma variant of the Grand Vitara priced between INR 10.80 lakh and INR 20.09 lakh, received a price hike of INR 19,000, the company said in its regulatory filings.