Latest news with #MarutiSuzuki
Indian Express
20 hours ago
- Automotive
- Indian Express
Chandigarh woman sues Maruti Suzuki, dealership for failing to transfer old car ownership; seeks vehicle's court custody
A woman has filed a civil suit against Maruti Suzuki and one of its dealerships in Chandigarh for refusing to transfer the ownership of her old car and allowing a third person to have control of and run the vehicle without getting it noted in the name of the new owner. The suit has been filed by Kulpreet Kaur against Maruti Suzuki India Limited and Autopace Network Private Limited (car dealership). Meanwhile, the Registration and Licensing Authority (RLA), Chandigarh and the principal secretary (Transport), Himachal Pradesh, have also been made respondents in the case. Through her counsel, Advocate Ajay Pal Singh, Kaur said she purchased a brand-new car from Autopace Network — a Maruti Suzuki Fronx — and before the purchase, Maruti Suzuki and the dealership, promised her that she would be compensated suitably in case she chose to return her earlier car, Hyundai i10, while buying the new vehicle from the showroom. Kaur said they said a handsome amount would be paid to her in the form of 'suitable adjustments' in the total value of the new car she was buying, in case she handed over the keys of her old vehicle. Kaur said she handed the keys of her old car to the dealership, for which the company and dealership gave a decent incentive to the purchaser by adjusting the value of the used car from the total value of the car that she was purchasing. She said she bought the car in September 2023. However, Kaur's counsel, Singh, argued Kaur is running from pillar to post to find out if, as promised, her old car had been transferred in the name of the new purchaser. However, she found out that the used car has not so far been transferred, and is lying at an undisclosed place, but in her name on paper. On following up with the company and dealership, she was informed her car was handed over to a local car dealer — Jainendra Bhalla of Sector 47, Chandigarh — and he further sold the vehicle to some unknown person. Kaur said that despite her repeated requests, Bhalla has not given any assurance that he will get the vehicle transferred in
India Today
21 hours ago
- Automotive
- India Today
Maruti Suzuki, Jetro partners to boost India-Japan startup collaboration
Maruti Suzuki India Limited has joined hands with the Japan External Trade Organisation (Jetro) to foster innovation and create business opportunities for startups in India and Japan. The two sides signed a Memorandum of Understanding (MoU) on Wednesday, with a focus on promoting cross-border innovation and startup is a Japanese government agency dedicated to promoting trade and investment between Japan and global markets. Initially focused on exports, it now also facilitates foreign investments into Japan and supports small and medium enterprises in international MoU was exchanged between Dr Tapan Sahoo, Executive Officer, Digital Enterprise, Maruti Suzuki, and Takashi Suzuki, Chief Director General of Jetro India, in the presence of Maruti Suzuki's Managing Director and CEO, Hisashi Takeuchi As part of the MoU, Maruti Suzuki and Jetro will work together to help Indian startups connect with Japan's startup and innovation ecosystem, while also enabling Japanese startups to explore and engage with India's growing startup Maruti Suzuki and Jetro will collaborate to enable startups to take part in relevant events and activities, helping them build connections with suitable partners. Startups selected through Maruti Suzuki's four innovation initiatives—Accelerator, Incubation, Mobility Challenge, and Nurture—will be eligible to join these Suzuki has already engaged with over 5,000 startups through its initiatives, shortlisting 150 and onboarding 25 as business partners. advertisementHisashi Takeuchi, MD and CEO of Maruti Suzuki, emphasised the role of startups in driving innovation. 'Startups are key drivers of innovation and economic growth. Through our multi-format innovation programs, we have been engaging with startups in India to co-create technology-driven solutions relevant to the automobile manufacturing and mobility space. We see great potential in Indian startups, and with this MoU with Jetro, we will be able to provide a platform for these promising startups to explore the Japanese business landscape.'Takashi Suzuki of Jetro India highlighted the strategic importance of the alliance. 'Maruti Suzuki stands as one of thefinest examples of the successful partnership between India and Japan. With this MoU, we are creating opportunities for even more fruitful business collaborations between our two nations. This MoU aims to foster innovation, drive economic growth, and further strengthen the deep-rooted ties between India and Japan."Subscribe to Auto Today Magazine
Time of India
a day ago
- Automotive
- Time of India
Indian auto sales trends for May 2025: PV and M&HCV segments may face hurdles
Indian automakers are expected to release May 2025 sales data on June 1, with early estimates indicating continued sluggishness in key segments, though two-wheelers and tractors may offer some support. Passenger vehicle and medium and heavy commercial vehicle categories appear to be facing pressure, while a looming production risk stemming from China's export restrictions on rare earth magnets, essential for both electric and internal combustion engine components, has been flagged by analysts at Nomura to Business Standard. Despite these challenges, analysts maintain a cautiously optimistic outlook for certain segments, anticipating growth driven by factors such as rural demand, infrastructure development, and replacement needs. Passenger vehicles demand to face a downhill? Passenger vehicle sales in India experienced a slowdown in May 2025. Wholesales are estimated to have dipped by 1 per cent YoY, reaching approximately 344,000 units. Retail demand remained weak, declining by 8 per cent YoY, despite expectations of support from easing interest rates and lower income taxes. This decline in retail performance has led to an increase in dealer-level inventory. Analysts suggest that a meaningful recovery in passenger vehicle demand is likely to occur only in the second half of calendar year 2025. An emerging concern for the industry is the potential for production disruptions starting in June. This is due to China's restrictions on the export of rare earth magnets. These magnets are critical for both electric vehicles and internal combustion engine vehicles. They are used in essential components such as sensors, steering systems, and motors. Nevertheless, analysts continue to maintain a 5 per cent YoY growth forecast for the passenger vehicle industry in fiscal year 2026. This forecast is based on expectations of demand normalization and minimal production impact. Maruti Suzuki's domestic passenger vehicle wholesales, excluding OE and LCV, are projected to fall about 5 per cent YoY to 137,000 units. This is partially supported by channel filling. Mahindra & Mahindra is likely to see a 13 per cent YoY increase in utility vehicle volumes, reaching approximately 49,000 units. This growth is backed by robust demand for new models including the BE 6, XEV 9e, Thar ROXX, and XUV 3XO. Its electric SUVs saw encouraging traction, with around 30,000 bookings on the first day. The company has further outlined plans to launch seven ICE SUVs, five BEVs, and five LCVs by 2030, with several new models expected in FY26. Tata Motors' passenger vehicle sales are estimated to grow about 1.5 per cent YoY to 46,000 units. Hyundai Motor India may see domestic sales decline around 8 per cent YoY to 45,000 units. A steady path for two-wheelers The two-wheeler segment showed modest growth in May 2025. Wholesales are likely up by 2 per cent YoY. Retail performance was stronger, with a 6 per cent increase over the same period. This was supported by strong rural sentiment and seasonal demand driven by weddings. The outlook for the segment remains positive. Analysts are forecasting volume growth of 7.0 per cent in FY26 and 6.5 per cent in FY27. Bajaj Auto is expected to post a 13 per cent YoY increase in total sales to around 402,000 units. This is driven by strong export growth in both 2W and 3W segments and a 6 per cent uptick in domestic 2W demand. However, weak domestic 3W sales, estimated to fall by 5 per cent to 35,000 units, could partially offset gains. The company continues to benefit from its growing EV portfolio, supported by affordable product offerings, expanding distribution, and improving export conditions. TVS Motor is projected to post overall growth of 19 per cent YoY. Domestic volumes are expected to rise 22 per cent, and exports are increasing 9 per cent. Hero MotoCorp's volumes are expected to remain flat YoY at around 500,000 units. Royal Enfield is set to post a robust 21 per cent increase in volumes to approximately 86,000 units. M&HCV to face hurdles The medium and heavy commercial vehicle segment continued to face headwinds in May. Wholesales are expected to decline by 5 per cent YoY, and retail sales are down by 3 per cent. Although freight rates remained stable, weak near-term demand has weighed on overall segment performance. Analysts, however, remain cautiously optimistic. They expect the MHCV industry to grow at 5 per cent annually over FY26 and FY27, supported by replacement demand and anticipated improvement in infrastructure and capital expenditure. Short-term recovery in demand will depend on the pace of infrastructure investments and project execution. Ashok Leyland's wholesale volumes are likely to fall 8 per cent YoY. Tata Motors' MHCV volumes may decline about 4 per cent. Despite the current softness, analysts believe there is potential for margin improvement among original equipment manufacturers if broader economic activity picks up in the coming quarters. In contrast, the tractor segment is expected to report robust growth. Wholesales are up 11 per cent YoY in May 2025.
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Business Standard
a day ago
- Automotive
- Business Standard
May 2025 auto sales preview: Nomura expects tepid volumes amid supply risks
May auto sales preview: Indian automakers are likely to announce May 2025 auto sales data on June 1, and early estimates suggest continued sluggishness in volume trends across key segments. While two-wheelers and tractors may provide some cushion, analysts said passenger vehicle (PV) and medium and heavy commercial vehicle (MHCV) categories appear to be under pressure. Analysts at Nomura also flagged a looming production risk starting June, stemming from China's export restrictions on rare earth magnets—used across both electric vehicle (EV) and internal combustion engine (ICE) components. PVs: Demand softens, inventory rises Passenger vehicle (PV) sales in India saw a slowdown in May 2025, with wholesales estimated to dip by 1 per cent year-on-year (Y-o-Y) to around 344,000 units. Despite expectations of support from easing interest rates and lower income taxes, retail demand remained weak, declining by 8 per cent Y-o-Y. The decline in retail performance has contributed to an increase in dealer-level inventory. Analysts suggest that any meaningful recovery in PV demand is likely to take shape only in the second half of calendar year 2025. An emerging concern for the industry is the risk of production disruptions from June onwards due to China's restrictions on the export of rare earth magnets. These magnets are critical not only for electric vehicles (EVs) but also for internal combustion engine (ICE) vehicles, as they are used in various essential components such as sensors, steering systems, and motors. Nevertheless, analysts continue to maintain a 5 per cent Y-o-Y growth forecast for the PV industry in FY26, banking on demand normalisation and minimal production impact. Among key players, Maruti Suzuki's domestic PV wholesales (excluding OE and LCV) are projected to fall about 5 per cent year-on-year to 137,000 units, supported partially by channel filling. Mahindra & Mahindra is likely to see a 13 per cent Y-o-Y increase in utility vehicle (UV) volumes to approximately 49,000 units, backed by robust demand for new models including the BE 6, XEV 9e, Thar ROXX, and XUV 3XO. Its electric SUVs saw encouraging traction, with around 30,000 bookings on the first day. The company has further outlined plans to launch seven ICE SUVs, five BEVs, and five LCVs by 2030, with several new models expected in FY26. Tata Motors' PV sales are estimated to grow about 1.5 per cent Y-o-Y to 46,000 units, while Hyundai Motor India may see domestic sales decline around 8 per cent Y-o-Y to 45,000 units. The two-wheeler (2W) segment showed modest growth in May 2025, with wholesales likely up by 2 per cent Y-o-Y. Retail performance was stronger, with a 6 per cent increase over the same period, supported by strong rural sentiment and seasonal demand driven by weddings. The outlook for the segment remains positive, with analysts forecasting volume growth of 7.0 per cent in FY26 and 6.5 per cent in FY27. Bajaj Auto is expected to post a 13 per cent Y-o-Y increase in total sales to around 402,000 units, driven by strong export growth in both 2W and 3W segments and a 6 per cent uptick in domestic 2W demand. However, weak domestic 3W sales, estimated to fall by 5 per cent to 35,000 units, could partially offset gains. The company continues to benefit from its growing EV portfolio, supported by affordable product offerings, expanding distribution, and improving export conditions. TVS Motor is projected to post overall growth of 19 per cent Y-o-Y, with domestic volumes rising 22 per cent and exports increasing 9 per cent. Hero MotoCorp's volumes are expected to remain flat Y-o-Y at around 500,000 units. Meanwhile, Royal Enfield is set to post a robust 21 per cent increase in volumes to approximately 86,000 units. MHCVs: Demand remains subdued The medium and heavy commercial vehicle (MHCV) segment continued to face headwinds in May, with wholesales expected to decline by 5 per cent Y-o-Y and retail sales down by 3 per cent. Although freight rates remained stable, weak near-term demand has weighed on overall segment performance. Analysts, however, remain cautiously optimistic and expect the MHCV industry to grow at 5 per cent annually over FY26 and FY27, supported by replacement demand and anticipated improvement in infrastructure and capital expenditure. Short-term recovery in demand will depend on the pace of infrastructure investments and project execution. On the company front, Ashok Leyland's wholesale volumes are likely to fall 8 per cent Y-o-Y, while Tata Motors' MHCV volumes may decline about 4 per cent. Despite the current softness, analysts believe there is potential for margin improvement among original equipment manufacturers if broader economic activity picks up in the coming quarters. Tractors: Strong momentum intact In contrast, the tractor segment is expected to report robust growth, with wholesales up 11 per cent Y-o-Y in May 2025. Positive triggers such as better crop prices and healthy reservoir levels continue to drive demand. Nomura retains its 5 per cent growth forecast for the tractor industry in FY25F and FY26F. Steel prices to edge higher Nomura's Commodity Cost Index remains largely stable for now. However, in the near term, steel prices could see a modest increase of ₹3–4/kg due to the imposition of a safeguard duty, which may add to cost pressures for OEMs in the coming quarters.
India Gazette
a day ago
- Automotive
- India Gazette
Maruti Suzuki and JETRO collaborate to facilitate business opportunities for startups from India and Japan
New Delhi [India], May 30 (ANI): Maruti Suzuki India Limited has signed a memorandum of understanding (MoU) with the Japan External Trade Organisation (JETRO), to promote innovation and facilitate business opportunities for startups from India and Japan. According to Maruti Suzuki, the MoU was formally exchanged between Dr Tapan Sahoo, Executive Officer, Digital Enterprise, Maruti Suzuki and Takashi Suzuki, Chief Director General, JETRO India in the presence of Hisashi Takeuchi, Managing Director and CEO, Maruti Suzuki. Under the MoU, Maruti Suzuki and JETRO will collaborate to support startups based in India to access the startup and innovation ecosystem of Japan, similarly, startups based in Japan will get an opportunity to access the startup and innovation ecosystem of India. In addition, Maruti Suzuki and JETRO will work with each other to facilitate the participation and networking of startups in appropriate activities or events, connecting them with relevant partners. Startups chosen through Maruti Suzuki's four innovation programs- accelerator, incubation, mobility challenge and nurture- will be eligible to participate in these events. Startups from Japan can explore the Indian startup ecosystem by participating through JETRO. Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited, said, 'Startups are key drivers of innovation and economic growth. Through our multi-format innovation programs, we have been engaging with startups in India to co-create technology-driven solutions relevant to the automobile manufacturing and mobility space.' He added, 'We see great potential in Indian startups, and with this MoU with JETRO, we will be able to provide a platform for these promising startups to explore the Japanese business landscape.' Takashi Suzuki, Chief Director General, JETRO India, said, 'Maruti Suzuki stands as one of the finest examples of the successful partnership between India and Japan. With this MoU, we are creating opportunities for even more fruitful business collaborations between our two nations. This MoU aims to foster innovation, drive economic growth, and further strengthen the deep-rooted ties between India and Japan.' (ANI)
