The profit of the country’s largest car maker Maruti Suzuki for the last quarter has increased by almost 80 percent. The company has achieved a profit of about Rs 3,717 crore between July and September. Maruti Suzuki’s profit in the same period last year was Rs 2,062 crore. Maruti Suzuki has said that the main reason for the increase in profit is the strong demand for its Sports Utility Vehicles (SUV). Apart from this, the company has also benefited from some reduction in input costs. Maruti Suzuki has SUVs like Grand Vitara, Fronx, Jimny and Brezza. Demand for its utility vehicles like Ertiga has also increased. The company has launched Grand Vitara, Fronx and off-road SUV Jimny in the compact segment of SUV. Due to this, the sales of Maruti Suzuki have increased. In the first half of this year, sales of utility vehicles have been more than three lakh. Maruti Suzuki has more than 25 percent share in this segment. Recently the company had achieved the feat of selling 10 lakh automatic vehicles. Automatic transmission system is offered in 16 models of Maruti. Maruti had said that customers of its NEXA retail chain prefer high-end automatic variants. It accounts for about 58 percent of the company’s automatic car sales. Its automatic transmission systems include Auto Gear Shift (AGS), 4-speed automatic transmission (AT), advanced 6-speed automatic transmission and Electronically-Continuous Variable Transmission (e-CVT). The 5-speed AGS gearbox is offered in the company’s Alto K-10, S-Presso, Celerio, WagonR, Ignis, Swift, Dzire, Baleno and Fronx. Apart from this, 4-speed AT is available in Jimny and Ciaz and 6-speed AT with paddle shifters in Ertiga, Grand Vitara, Fronx, Brezza and XL6. The option of e-CVT is available in Grand Vitara and Invicto. Maruti had its highest monthly sales in a month in September. Last month the company’s sales were more than 1.81 lakh units. In the first six months of this financial year, the company’s sales in the country have crossed 10 lakh units. This is the first time that Maruti has crossed the sales mark of 10 lakh units in six months of a financial year.
Tag: manufacturing
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Discount up to Rs 5.25 lakh on Harley Davidson motorcycles in India
Harley-Davidson, popular for powerful motorcycles, has offered discounts of up to Rs 5.25 lakh on select motorcycles in India. This discount will be available on the company’s Pan America 1250 Special, Sportster S and Nightster bikes. There is a discount of Rs 3.25 lakh on Pan America 1250 motorcycle. Its price will reduce to Rs 21.24 lakh (ex-showroom). Its actual price is Rs 24.49 lakh. This motorcycle has a 1,252 cc twin-cylinder, liquid cooled engine. It produces 150.9 bhp at 8,750 rpm and peak torque of 128 Nm at 6,750 rpm. It has a six speed gearbox. A discount of Rs 3.25 lakh is also being given on Harley Davidson’s Sportster S. Its price will reduce from Rs 18.79 lakh to Rs 15.54 lakh. It has the same engine as Pan America 1250. It generates 121 bhp and peak torque of 125 Nm. The maximum discount of Rs 5.25 lakh is being given on Harley Davidson’s Nightster motorcycle. Its price will reduce to Rs 12.24 lakh. Its actual price is Rs 17.63 lakh. It has a 975 cc twin-cylinder engine. It produces 89 bhp and 95 Nm torque with six-speed gearbox. This discount is on motorcycles imported by the company. Recently, Harley Davidson, in collaboration with Hero MotoCorp, one of the big two-wheeler companies, launched the low-priced Harley X440 motorcycle. Hero MotoCorp has started deliveries of Harley-Davidson X440 to customers. 1,000 units of this motorcycle have been sold at 100 dealerships of the company. It is being manufactured at Hero MotoCorp’s factory in Neemrana, Rajasthan. The company has also started new booking for this. The X440 is being sold in three variants – Denim, Vivid and S. Their prices range between Rs 2,39,500 to Rs 2,79,500 (ex-showroom). This is the most affordable motorcycle of Harley Davidson. More than 25,000 bookings have been received for this. To meet its increasing demand, Hero MotoCorp will increase its manufacturing. The company’s Chief Executive Officer, Niranjan Gupta had said, “Our effort will be to complete all the deliveries in the next few months. For this, the capacity of the supply chain is being increased.” -
There will be no need of licensing for import of computers and laptops in India
Licensing will not be implemented for import of computers and laptops in the country. However, shipments of these devices will be monitored. Earlier in August, the central government had announced the implementation of the license requirement for import of certain products including computers, laptops and tablets from November 1. Commerce Secretary Sunil Barthwal told reporters, “We believe that there are no such restrictions on laptops. We are only saying that the import of laptops should be monitored. We are only monitoring. There are no such restrictions. Are not.” In this regard, the Director General of Foreign Trade (DGFT) has said that there will be an import management system for this. It will be implemented from November 1. The regulation of IT hardware industry is with MeitY. DGFT notifies decisions related to import or export of any product. However, the IT hardware industry has expressed apprehensions regarding this. An industry source said, “It will be like an import management system in which an authorization will be issued to people. It is a type of licensing.” In this, companies will have to request for a specific number of imports and they will get authorization for import. Samsung, one of the big consumer electronics companies, has prepared to increase manufacturing in the country. The company’s smartphones are already being produced in the country. Samsung also plans to manufacture laptops at its factory in Greater Noida, Uttar Pradesh. This will give a boost to the Make in India scheme of the Central Government. Under this scheme, incentives are given for electronics manufacturing. Samsung has prepared to set up a new laptop manufacturing unit in the factory that produces smartphones. This unit will have the capacity to manufacture 60,000-70,000 laptops annually. The government had announced a $2 billion manufacturing incentive scheme with an aim to attract large investments in IT hardware manufacturing. The government aims to increase the annual production of electronics to $300 billion by 2026. Big companies selling laptops in the country include Apple, Dell, Lenovo and HP, Acer, Samsung and LG. A large number of laptops are imported from countries like China. -
Discount of Rs 1 lakh on Maruti Suzuki’s Jimny SUV, offer available till the end of this month
The country’s largest car maker Maruti Suzuki has offered a discount of up to Rs 1 lakh on the Jimny SUV during the festive season. This discount is for its entry-level Zeta variant. Its price is between Rs 12.74 lakh to Rs 15.05 lakh. This discount will be available only at Maruti Suzuki Nexa dealerships across the country. This includes a discount of Rs 50,000 and an additional exchange offer and loyalty bonus of Rs 50,000. Jimny can be purchased in two dual tone and five single tone colours. This off-roader is getting good response from the customers. It has a 462 cc 4 cylinder petrol engine which generates power of 104.8 PS and torque of 134.2 Nm at 4000 rpm. Its fuel tank is of 40 litres. It comes with the option of 5 speed manual transmission and 4 speed AT. Jimny has a 22.86 cm touchscreen infotainment system, cruise control, push start and stop, climate control, power windows, digital lock and tachometer. It includes side and curtain airbags, dual front airbags, brake limited slip differential, ABS, EBD, ESP, hill hold control, hill descent control, brake assist function, rear view camera, side impact door beams, seatbelt pre-tensioner/force limiter. There are security features. This can be helpful for the company in strengthening its position in the SUV segment. Maruti Suzuki had its highest monthly sales in a month in September. Last month the company had sold more than 1.81 lakh units. This is an increase of three percent compared to the same period last year. The demand for the company’s SUVs and other utility vehicles has increased rapidly. The company’s sales in this segment have increased by more than 80 percent. Maruti has the first position in the SUV segment. Last month the company’s sales stood at 1,81,343 units. Out of this, more than 1.50 lakh units have been sold in the country. This is an increase of two percent compared to September last year. In the first six months of the current financial year, Maruti Suzuki’s sales in the country have crossed 10 lakh units. -
Royal Enfield’s Made in India Super Meteor 650 launched in America
Royal Enfield’s Super Meteor 650, a manufacturer of powerful motorcycles, will soon be seen running in America. The company has launched this motorcycle in America and Canada. This Made in India motorcycle will be exported to North America. According to a media report, Super Meteor 650 will be available in North America in three variants – Astral, Interstellar and Celestial. This motorcycle has received good response from customers. It was launched in India as well as Europe. This is the third motorcycle in the company’s lineup to use a 648cc parallel twin engine. This engine generates 47 bph of power at 7,250 rpm and peak torque of 52.3 Nm at 5,650 rpm. It was launched in the country at a starting price of Rs 3,48,900 (ex-showroom). It features forward-set footpegs and a low and spread stance and uses 43 mm Showa inverted telescopic forks. This is the company’s first 650cc motorcycle with tripper navigation. It has LED headlamp and USB charging port. Recently the company launched the new Bullet 350. Its price starts from Rs 1.74 lakh (ex-showroom). It will be in the category between the company’s Hunter 350 and Classic 350 motorcycles. It has a new instrument console and semi-digital display. The new Bullet 350 has been made available in five colors. It has telescopic forks at the front and twin gas charged shock absorbers at the rear. There are disc brakes at the front and rear or disc and drum brakes depending on the variant. It can be purchased in three variants – Military, Standard and Black Gold. The price of its top variant is Rs 2.16 lakh (ex-showroom). Royal Enfield may also launch the electric motorcycle category soon. The company’s electric motorcycle is being developed in collaboration with Stark Future. There is a strategic partnership between Royal Enfield and Stark Future. Royal Enfield can also make batteries and motors for this motorcycle. This electric motorcycle can be introduced next year. Sales of electric two-wheelers have increased rapidly in the last few years. -
Hero MotoCorp sold 1,000 units of Harley-Davidson X440, started new booking
Hero MotoCorp, one of the big two-wheeler companies, has started delivery of Harley-Davidson X440 to customers. 1,000 units of this powerful motorcycle have been sold at 100 dealerships of the company. It is being manufactured at Hero MotoCorp’s factory in Neemrana, Rajasthan. The company has also started new booking for this. The X440 is being sold in three variants – Denim, Vivid and S. Their prices range between Rs 2,39,500 to Rs 2,79,500 (ex-showroom). This is the most affordable motorcycle of Harley Davidson. The company has received more than 25,000 bookings for this. To meet its increasing demand, Hero MotoCorp will increase its manufacturing. Niranjan Gupta, Chief Executive Officer of the company, said, “Our effort will be to complete all the deliveries in the next few months. For this, the capacity of the supply chain is being increased.” This motorcycle has been specially designed according to the conditions of the country. In this, many styling elements have been taken from the previous models of the company. The X440 has round headlamps, LED lighting and LCD instrument controls. It has a recently developed 398 cc single cylinder and air-cooled motor, which generates 27 bhp power and 38 Nm peak torque. Along with this, there are six speed gearbox, inverted front forks and twin shock absorbers at the rear. Braking has been improved in this. This is the first motorcycle developed in partnership between the two companies. Under this partnership, Hero MotoCorp will manufacture and market Harley Davidson motorcycles in the country. Hero MotoCorp plans to increase its presence in the powerful motorcycles segment. The company wants to strengthen its position in the category above 160 cc. It is also focusing on launching new products every quarter. Hero MotoCorp’s sales in September declined by 14.41 percent to 3,91,310 units. In the same month last year, the company had sold 4,21,288 units. The company had said that the main reason behind the decline in sales was heavy rains last month. The company gets a major share of its sales from rural areas. -
Fast pace of sales of passenger vehicles, reached high level in July-September
Sales of passenger vehicles in the country have reached the highest level of any quarter in July-September. Strong demand for utility vehicles is a major reason behind this. The total dispatch of passenger vehicles by automobile companies to dealers increased to 10,74,189 units between July and September. This is an increase of 4.7 percent compared to the same period last year. Along with this, this is the first time that the wholesales of passenger vehicles have been more than 20 lakh units in the first half of a financial year. Vinod Aggarwal, President, Society of Indian Automobile Manufacturers (SIAM), said, “The passenger vehicles segment has been driven by strong demand for sports utility vehicles and utility vehicles. It has reached 60 per cent of the total sales.” Wholesales of entry level cars declined by about 35,000 units in the second quarter. Demand has also been weak in the entry level two-wheeler segment. The main reason for this is the lack of recovery in demand in rural areas. Aggarwal said that there has been growth in the segments of passenger vehicles, three-wheelers and commercial vehicles in the second quarter of the current financial year. However, the wholesales of two-wheelers have declined compared to the same period last year. Maruti Suzuki, one of the big automobile companies, had its highest monthly sales in a month in September. Last month the company had sold more than 1.81 lakh units. This is an increase of three percent compared to the same period last year. The demand for the company’s SUVs and other utility vehicles has increased rapidly. Maruti’s Grand Vitara and Brezza are getting good response from customers. The company’s sales in this segment have increased by more than 80 percent. Maruti has the first position in the SUV segment. Its models like Fronx and Jimny also have strong demand. Last month the company’s sales stood at 1,81,343 units. Out of this, more than 1.50 lakh units have been sold in the country. This is an increase of two percent compared to September last year. In the first six months of the current financial year, Maruti’s sales in the country have crossed 10 lakh units. This is the first time that Maruti Suzuki has crossed the sales mark of 10 lakh units in six months of a financial year. -
Samsung introduced Galaxy Z Flip 5 in yellow color, know the price
Samsung, one of the biggest smartphone makers, has introduced Galaxy Z Flip 5 in a new color. This clamshell foldable smartphone was launched at the company’s Galaxy Unpacked event in July. It has a 3.4-inch Super AMOLED cover display and a 3,700 mAh battery. The company has introduced Galaxy Z Flip 5 in a new yellow color. Its price is Rs 99,999 for 8 GB RAM + 256 GB storage variant and Rs 1,09,999 for 8 GB RAM + 512 GB storage. The company is also offering a bank discount of Rs 7,000 and an upgrade bonus of Rs 7,000. Earlier it was available in cream, graphite, mint and lavender colours. Specifications of Galaxy Z Flip 5This smartphone has a 6.7 inch Full HD + (1,080×2,640 pixels) Dynamic AMOLED Infinity Flex Inner display with a refresh rate of 120 Hz. It has a 3.4 inch Super AMOLED cover display (720×748 pixels). There is Corning Gorilla Glass protection for its display and rear panel. It has a custom Snapdragon 8 Gen 2 mobile platform. Its dual camera unit has a 12-megapixel ultra-wide primary camera and a 12-megapixel wide-angle sensor. It has a 10 megapixel camera for selfie and video calls. Its 3,700 mAh battery supports 25 W fast charging. Market research firm Techarc estimates that the share of foldable smartphones in the total revenue of smartphones this year will be more than 1.8 percent. Samsung hopes that the new foldable smartphones will help it take half the share in the super premium smartphone category in the country. American company Apple, which manufactures iPhone, has the first position in this segment. The super premium smartphone segment consists of smartphones priced above $1,000 (approximately Rs 82,000). With Galaxy Z Fold 5 and Galaxy Z Flip 5, the company aims to capture more than 50 percent share in the super premium segment. The company’s share in this segment is about 35 percent. The company’s share in the ultra premium category priced above Rs 45,000 has increased by 247 percent on year-on-year basis. However, Apple leads in this category with 62 percent share. -
There will be no need of licensing for import of computers and laptops in India
Licensing will not be implemented for import of computers and laptops in the country. However, shipments of these devices will be monitored. Earlier in August, the central government had announced the implementation of the license requirement for import of certain products including computers, laptops and tablets from November 1. Commerce Secretary Sunil Barthwal told reporters, “We believe that there are no such restrictions on laptops. We are only saying that the import of laptops should be monitored. We are only monitoring. There are no such restrictions. Are not.” In this regard, the Director General of Foreign Trade (DGFT) has said that there will be an import management system for this. It will be implemented from November 1. The regulation of IT hardware industry is with MeitY. DGFT notifies decisions related to import or export of any product. However, the IT hardware industry has expressed apprehensions regarding this. An industry source said, “It will be like an import management system in which an authorization will be issued to people. It is a type of licensing.” In this, companies will have to request for a specific number of imports and they will get authorization for import. Samsung, one of the big consumer electronics companies, has prepared to increase manufacturing in the country. The company’s smartphones are already being produced in the country. Samsung also plans to manufacture laptops at its factory in Greater Noida, Uttar Pradesh. This will give a boost to the Make in India scheme of the Central Government. Under this scheme, incentives are given for electronics manufacturing. Samsung has prepared to set up a new laptop manufacturing unit in the factory that produces smartphones. This unit will have the capacity to manufacture 60,000-70,000 laptops annually. The government had announced a $2 billion manufacturing incentive scheme with an aim to attract large investments in IT hardware manufacturing. The government aims to increase the annual production of electronics to $300 billion by 2026. Big companies selling laptops in the country include Apple, Dell, Lenovo and HP, Acer, Samsung and LG. A large number of laptops are imported from countries like China. -
Maruti Suzuki accused of evasion of customs duty, company receives notice
The country’s largest car maker Maruti Suzuki has been accused of evasion of customs duty. The Customs Department has given a show cause notice to the company for this. The Customs Department has accused Maruti Suzuki of evading customs duty worth more than Rs 16 lakh. The company has informed in a regulatory filing about receiving a show cause notice from the Customs Department. Maruti says that it will file a reply to this notice. The company is accused of unfairly obtaining BCD concession on the basis of using imported goods from foreign suppliers. Maruti says that this show cause notice will not have any impact on its functioning. Earlier, apart from a notice from the Income Tax Department, the company had also received a show cause notice regarding GST. The Goods and Services Tax (GST) authority had issued a show cause notice to the company demanding outstanding tax of Rs 193.3 crore. Last month, Maruti had its highest monthly sales in a month. The company has sold more than 1.81 lakh units in September. This is an increase of three percent compared to the same period last year. The demand for the company’s SUVs and other utility vehicles has increased rapidly. Maruti’s Grand Vitara and Brezza are getting good response from customers. The company’s sales in this segment have increased by more than 80 percent. Maruti has the first position in the SUV segment. Its models like Fronx and Jimny also have strong demand. Last month the company’s sales stood at 1,81,343 units. Out of this, more than 1.50 lakh units have been sold in the country. This is an increase of two percent compared to September last year. In the first six months of the current financial year, Maruti’s sales in the country have crossed 10 lakh units. This is the first time that Maruti has crossed the sales mark of 10 lakh units in six months of a financial year. Apart from SUVs, the company also sells MPVs like Ertiga, XL6 and Invicto in the utility vehicle segment. Its sales in this segment have increased by about 82 percent compared to the same period last year. The company has sold 59,271 units in the utility vehicles segment. For this, Brezza and Grand Vitara have been the best selling models in this segment.