Maruti Suzuki has not renewed the contracts of 3,000 temporary employees across its manufacturing plants, chairman RC Bhargava said on Tuesday, as the company has been cutting production since February this year to control inventory pile-up amid a slowdown in demand.
Bhargava said over the past year, multiple factors led to an increase in final cost of cars, affecting their affordability.
With the government having rolled out measures to facilitate an additional `5 lakh crore of bank loans and pushing back the timeline for the one-time registration fee, RC Bhargava believes the auto industry can now look forward to a different environment. Till last Thursday, the chairman of Maruti Suzuki had been reluctant to call an upturn in the festive season but now he believes the environment could change.
Maruti Suzuki will recall 40,618 units of its small car WagonR to rectify a possible issue of fuel hose fouling with metal clamp, reflecting yet another instance of growing recalls over the last few years. The recall campaign is for the vehicles fitted with 1-litre engine and manufactured between November 15, 2018 and August 12, 2019.
To arrest the fall in demand for diesel cars, Maruti Suzuki has announced it will offer free warranty for five years or 1 lakh km to customers across the country on models such as Dzire, Swift, Vitara Brezza and S-Cross. The development comes after sales of Maruti’s diesel engine fell after the announcement made by the company to stop manufacturing these vehicles from April 1, 2020, when the BS-VI emission norms will come into effect.
PUNE: Maruti Suzuki, India's biggest car maker, on Friday officially started accepting bookings with a down payment of Rs 11,000 for its upcoming new model — Maruti Suzuki XL6, the multi-purpose vehicle or MPV with six seats.
The company will announce its price on August 21, the launch day at New Delhi. According to experts it could be tagged around Rs 9.50 lakh — 10.50 lakh in a fiercely competitive car market in the country.
Unenthusiastic market sentiments have lead to the country's leading automobile manufacturer, Maruti Suzuki, observe a substantial decline in its sales for the month of July 2019. The Indo-Japanese automaker sold a total of 1,09,264 units during last month. In comparison, during the same month last year, the sales for the carmaker stood at 1,64,369 units.
Maruti Suzuki India, the country’s largest carmaker, on Friday posted a 27.3 per cent drop in net profit for the April-June quarter amid an industry-wide slowdown in demand, even as it beat analysts’ estimates. The company reported a net profit of Rs 1,435 crore in Q1FY20, compared to Rs 1,975 crore in the year-ago period.
Maruti Suzuki - country’s largest passenger vehicle manufacturer - is expected to report subdued growth revenue and net profit in the first quarter of the current financial year as sales across segments declined by double digits.
The New Delhi based vehicle manufacturer will continue to see decline in revenue due to the high base in the corresponding period and 19% fall in sales in the April to June quarter.
In ordering a probe, CCI has acted upon complaints Maruti does not permit its dealers to give extra discount to their customers beyond an approved level and if a dealer is found doing so, penalty is levied depending upon the number of incidents found in a particular financial year.
In its order, the CCI has observed that Maruti has indulged in resale price maintenance by fixing the maximum discount which its dealers could offer to end-customers.
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.