Maruti Suzuki and Toyota Tsusho Group on Wednesday announced a joint venture for vehicle dismantling and recycling.

In the joint venture -- Maruti Suzuki Toyotsu India Pvt Ltd (MSTI) -- Maruti Suzuki India (MSI) will have 50 per cent share, while Toyota Tsusho Group companies -- Toyota Tsusho Corporation and Toyota Tsusho India Pvt Ltd -- will hold the remaining stake.

Maruti Suzuki India (MSIL) reported a Q2FY20 Ebitda margin of 9.5% (Nomura: 8.5%, Consensus: 9.3%), helped by a 30 bps benefit to gross margin (Our estimate: 50 bps fall). The company said that the cost reduction helped margins. A fall in commodity prices and better inventory absorption may have also helped gross margins.

MSIL’s retail sales were slightly positive during the festive period, which is a good sign. However, the management said it needs to see if the turnaround sustains as the average `26,000/vehicle discount (was ~`17,000) helped demand.

The higher cost of buying a new car and weak sales in the low-cost model category impacted the company’s earnings substantially in the second quarter of FY20, Maruti Suzuki India Limited (MSIL) Chairman RC Bhargava said. It comes as the country’s largest car manufacturer reported a 24 per cent drop in sales in the first half of the ongoing fiscal. Volume sales during the quarter under review stood at 3,38,317 units, down 30.2 per cent as compared with the same period last fiscal.

Maruti Suzuki India Ltd (MSIL) said on Tuesday that it invested over Rs 154 crore towards its corporate social responsibility (CSR) initiatives during the financial year 2018-19.

The efforts were focused on community development, road safety, and skill development. These are aligned with the United Nations Sustainable Development Goals (SDGs) corresponding to good health and well-being,

Maruti Suzuki India (MSI), the country's largest carmaker, reduced its production for the eighth straight month, as the automobile sector continued to reel under a slowdown. The company cut its production by 17.48% in September.

The company produced a total of 1,32,199 units in September as against 1,60,219 units during the same month last year, Maruti Suzuki said in a regulatory filing.

The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday reported a 24.4 per cent decline in sales at 1,22,640 units in September.

The company had sold 1,62,290 units in September last year, MSI said in a statement.

Maruti Suzuki India ltd, the country’s largest vehicle manufacturer, on Monday launched its new entry-level hatchback S-Presso, at a price range of ₹3.69 lakh to ₹4.91 lakh. With muted sales over the last one year, the company will bank on the new product to revive its fortunes during the festival period and beyond.

After passing on benefits to buyers on select car models following the government's corporate tax reduction by reducing Rs 5,000 on ex-showroom price, Maruti Suzuki has now slashed the ex-showroom price of Baleno RS by Rs 100,000.

Following this massive reduction in Baleno RS cost, its ex-showroom price now stands at Rs 7.88 lakh.

NEW DELHI : The steps taken to reverse the economic slowdown, along with the upcoming festive season offers, might have the potential to accelerate the automobile sector's sales growth, industry insiders opined.

The trend of reduced prices on the back of recent corporate tax sops is expected to catch-up after car market leader Maruti Suzuki cut prices on Wednesday.

The country's largest car maker Maruti Suzuki India on Wednesday reduced the prices of select models by Rs 5,000 (on ex-showroom prices).

These models include all variants of Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross, MSI said in a statement.

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