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: sales
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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. -
Government may give incentives worth millions of dollars to Apple and Dell to make laptops in India
The central government is planning to provide financial incentives to companies producing laptops and tablets in the country. These companies include Apple and Dell. With this, China will also be able to compete as the production base of these companies. To reduce imports, the government wants to increase the production of laptops and tablets and also make the country an export hub in the long run. The Technology Ministry has made changes to an already existing plan for this and has consulted with the executives of electronics companies on this. Have asked for suggestions. Sources with knowledge of the matter said it could include incentives worth more than $500 million per company. The scheme aims to attract Apple, Dell, HP and Asus to increase or start production in the country. The government especially wants to encourage Apple to manufacture iPads in the country. The company is already assembling iPhones in India through its Taiwanese suppliers. In a government document seen by Bloomberg News, incentives worth Rs 4,500 crore have been offered per company. However, for this, foreign companies will have to invest at least Rs 700 crore in five years in addition to the expenditure incurred till March last year. The incentives will depend on the local components procured by these companies and could be up to about 6 percent of the sales of finished products. However, this plan can be changed after consultation with the industry. Last year, a scheme worth Rs 7,350 crore was launched to increase manufacturing and exports of IT products like laptops, tablets and personal computers in the country. However, due to low incentives, these companies did not take interest in it. Apple’s new iPhone 14 will be made in India. Apple hopes to grow its business rapidly from this world’s largest smartphone market after China. The company started manufacturing in India in 2017 with the iPhone SE. It is manufacturing advanced iPhone devices including iPhone SE, iPhone 12 and iPhone 13 in India. iPhone 14 has also been added to it. -
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. -
Hero MotoCorp gets a shock, fraud case registered against the company
A case of forgery and criminal conspiracy has been registered against Hero MotoCorp, one of the largest two-wheeler companies. In this case filed by Delhi Police, the company has been accused of taking tax credit of about Rs 56 lakh by making fake bills of more than Rs 5.9 crore. According to a media report, the complaint has been filed by Brains Logistics Pvt Ltd and it has named Hero MotoCorp along with its main employer Pawan Munjal and executives Vikram Sitaram Kasbekar and Hari Prakash Gupta and an auditor. In response to this, Hero MotoCorp is issuing a statement saying that this is an old matter and the names of any executives are not involved in it. The complaint alleges that the company, in connivance with Munjal and Kasbekar, had raised fake bills of over Rs 5.9 crore for 2009 and 2010 and created fake debit balances in its accounts for Brains Logistics Pvt Ltd. It also alleges that Hero MotoCorp had taken fake CENVAT (service tax) credit of more than Rs 55 lakh. In this case, Hero MotoCorp has been accused of cheating the Income Tax Department and Brains Logistics Pvt Ltd. It said the company had never issued or deposited the fake bills. Recently Hero MotoCorp launched Karizma XMR. The company has re-introduced this popular motorcycle with a new design. The new Karizma has a 210 cc engine. Its price is Rs 1,82,900 (ex-showroom). It has a 210cc 4V liquid cooled engine which generates 25.5Ps of power and 20.4Nm of torque. This motorcycle has been made available in Iconic Yellow, Matte Red and Phantom Black colors. It has features like LCD digital instrument cluster with Bluetooth connectivity, turn by turn navigation, adjustable windshield, slip and assist. This motorcycle has disc brakes at the front and drum brakes at the rear. It has sharp and sleek LED headlamps with LED daytime running lights. -
Hyundai’s Exter SUV becomes expensive, know the new price
South Korean automobile company Hyundai Motor has increased the price of Exter SUV. The company launched Exter two months ago. The price of four of its six variants has been increased by up to Rs 16,000. It was launched at a starting price of Rs 6 lakh (ex-showroom). Exter’s top end variant SX (O Connect) has received the lowest price increase of around Rs 5,000. It has dual-tone and automatic gear box. Hyundai has increased the price of its SX(O) Connect variant the most by Rs 16,000. It has manual transmission with dual-tone. Its other variants have become costlier by around Rs 10,400. The price of the top-end variant of Exter has increased to around Rs 10.10 lakh (ex-showroom). There is no change in the prices of its entry level EX and SX(O) Connect variants. It competes with Tata Punch and Maruti Suzuki’s Fronx. For this, the company has given the option of CNG engine along with petrol. Many features have been provided in Exter SUV and it can be helpful in increasing the sales of Hyundai. It has been made available in White color with Black Roof, Starry Night, Fiery Red, Atlas White, Titan Grey, and Black Roof with Cosmic Blue and Ranger Khaki colors. It has six airbags which are not found in any other car in this segment. The company is giving a warranty of three years or unlimited kilometers with it. Exter has a 1.2 liter petrol engine which generates 83 PS of power and 11.6 Newton meter of torque. It also has the option of 1.2 liter bi-fuel petrol and CNG engine, which can generate 69 PS power and 95.2 Newton meter torque. It is available in both manual and automatic variants. Its design is based on Hyundai’s new design system, which has a split headlamp setup with H-shaped LED DRL. There is a turn indicator at the top and a headlamp cluster at the bottom. On the side, the Exter gets squared wheel arches with dual tone alloy wheels. There is a black strip in its rear which is linked to both the tail lamps. -
Biggest decline in global sales of personal computers in two decades
Global personal computer (PC) sales have declined the most in the last two decades in the September quarter. Shipments of desktops and laptops declined by about 19.5 percent year-on-year to about 68 million units. This is the fourth consecutive quarter of decline in PC shipments. The report of market research firm Gartner states that due to people returning to office and reopening of schools, the demand for PC has reduced in both consumer and enterprise segments. “Excessive inventory has become a major problem due to weak demand for PCs in both consumer and enterprise segments as supply chain disruptions ease,” said Gartner analyst Mikako Kitagawa. Many consumers had purchased new personal computers in the last two years and hence demand in this segment is weak. Due to tensions between some countries and weak economic conditions, companies have reduced their spending on IT and PCs are not their priority. Europe, Middle East and Africa (EMEA) witnessed the biggest decline of 26.4 percent in the September quarter. This is the third consecutive quarter of decline in sales in this region. Weak economic conditions in Europe and the war between Ukraine and Russia are impacting demand. Gartner says that many PC vendors in Russia closed their businesses in the first two quarters of this year. This has had a negative impact on total shipments and is visible in comparison on a year-on-year basis. PC sales in Asia Pacific have declined by 16.6 percent on a year-on-year basis. The main reason for this is the lockdown due to the epidemic in many cities of China. This has slowed down the business of companies and reduced the demand for personal computers in consumer, government and enterprise segments. Dell ranked first in the PC market in terms of total PC shipments. Its market share was 26.8 percent. It was followed by HP (about 23.2 percent), Apple (16 percent) and Lenovo (about 15.8 percent). Dell’s laptop shipments have declined in all regions except Japan. However, its desktop shipments have increased on a year-on-year basis in all regions except Asia Pacific. -
Honda sold more than 5 lakh motorcycles and scooters in India in September
Honda Motorcycle and Scooter India (HMSI), one of the big two-wheeler companies, has sold 5,26,998 units last month. This is the highest level of sales for the company in any month of the current financial year. Its sales have increased by about two percent compared to the same period last year. HMSI’s exports in September stood at 35,196 units with an increase of about 19 percent. The company has updated its motorcycles to comply with BS6 Stage 2 norms. Apart from this, it has also launched some new products. The company has launched limited edition of Activa in two colors. Its 109.51 cc single-cylinder engine has been retained. It follows BS6 OBD2. Its maximum power is 7.37 bhp and peak torque is 8.90 Nm. Last month the company launched SP125 Sports Edition motorcycle. Its price is Rs 90,567 (ex-showroom, Delhi). It will be available at Honda Red Wing dealerships across the country. Booking for this has started. This motorcycle has been given better tank design, matte muffler cover and new graphics than before. It will be available in Decent Blue Metallic and Heavy Gray Metallic colors. It has bright LED headlamp, fully digital instrument console. Mileage related information is also available in its instrument console along with gear position indicator. The SP125 Sports Edition has a 123.94 cc, single cylinder BS 6, OBD2 compliant PGM-FI engine, which can generate 8 kW of power and 10.9 Nm of torque. HMSI is offering a special 10-year warranty with this motorcycle which includes three years standard warranty and seven years optional warranty. Earlier the company had launched Hornet 2.0 motorcycle. There have been some improvements in it compared to Hornet. This motorcycle has an OBD2 compliant engine. It has a 184.4cc single-cylinder air-cooled engine, which generates maximum power of 17 bhp at 8,500 rpm and peak torque of 15.9 Nm at 6,000 rpm. This motorcycle also has a new assist and slipper clutch which makes upshifts easier. Price of Hornet 2.0 starts from Rs 1.39 lakh (ex-showroom). -
Maruti Suzuki made highest sales in a month on the basis of SUV
The country’s largest car maker Maruti Suzuki has achieved its highest monthly sales in a month in September. Last month the company has 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. Sales in the country have crossed 10 lakh units in the first six months of the current financial year. 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 were the best selling models in this segment. However, the company’s sales in the small and compact segment have declined compared to September last year. Maruti’s exports have also increased last month. The company exported 22,511 units in September. It was 21,403 units in the same period last year. Recently, Maruti’s compact sedan Dzire achieved the sales figure of 25 lakh units in 15 years of its launch. The company claims that the sales of any other compact sedan competing with it have not reached 10 lakh units in the country. Its price ranges between Rs 6.53 lakh to Rs 9.39 lakh (ex-showroom, Delhi). The compact sedan segment includes Hyundai’s Aura, Honda’s Amaze and Tata Motors’ Tigor.