Monday, October 21

Tag: automobile industry

Maruti Suzuki eyes export of 300,000 units in FY25, 800,000 by 2030 | Company News
7Apr By adminNo Comments
Business

Maruti Suzuki eyes export of 300,000 units in FY25, 800,000 by 2030 | Company News

In FY24, Maruti Suzuki posted record exports of 2,83,067 units, up from the previous best of 2,59,333 units in FY23. In FY22 its exports were at 2,38,376 units On the back of record exports last fiscal, Maruti Suzuki India is confident of its overseas shipments crossing 3 lakh units in FY25 as part of gradual scaling up to meet the target of up to 8 lakh units by 2030, according to a senior company official. The company plans to launch more models in its various export markets that span over 100 countries while also enhancing distribution network, having taken best practices from India such as making bank finance available at dealerships, strengthening service facilities and parts availability to the export markets. "Till about three years ago our exports were in the r...
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Maruti Suzuki production falls 2.96% at 1,21,028 units in Dec 2023
2Jan By adminNo Comments
Business

Maruti Suzuki production falls 2.96% at 1,21,028 units in Dec 2023

Production of light commercial vehicle Super Carry was, however, higher at 1,510 units as compared to 587 units in the year-ago month Maruti Suzuki India on Tuesday reported a 2.96 per cent decline in total vehicle production at 1,21,028 units in December 2023. The company had produced 1,24,722 units in December 2022, Maruti Suzuki India said in a regulatory filing. Total passenger vehicle production last month stood at 1,19,518 units as against 1,24,135 units in December 2022, down 3.72 per cent, it added. Production of light commercial vehicle Super Carry was, however, higher at 1,510 units as compared to 587 units in the year-ago month. Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava had on Monday stated that the ...
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BLive looking to raise $5 million in next 6 months, says CEO Kholkar
25Nov By adminNo Comments
Business

BLive looking to raise $5 million in next 6 months, says CEO Kholkar

BLive, a multi-brand electric vehicle platform, is looking to raise USD 5 million in the next six months, its CEO and co-founder Samarth Kholkar said on Friday. The investor interest in BLive is "strong", Kholkar said, adding that the company is hopeful of making a funding-related announcement in the next six months. "We have raised under USD 2 million over a period of time, and we are looking to raise USD 5 million now because our primary interest is to invest in technology and people. "Technology, because we are a platform at the end of the day, which has a lot of data coming in, now it is time to consolidate, extrapolate and use the latest technology, including blockchain to ensure we can scale up our business from a typical 10X to a 100X," he said. B...
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Festival season momentum light up domestic PV sales, GST collection
1Nov By adminNo Comments
Business

Festival season momentum light up domestic PV sales, GST collection

Helped by strong festival-season demand and momentum in the economy, domestic passenger vehicle (PV) sales reached a new peak for a third consecutive month in October, while the goods and services tax (GST) collection surged to the second-highest ever. But there were some concerns regarding manufacturing activity and joblessness, especially in rural India. While the monthly PV wholesale number at 391,472 units in October, up 16.3 per cent year-on-year (Y-o-Y), topped the record of 363,733 units set in September, the GST mop-up at Rs 1.72 trillion, an increase of 13 per cent Y-o-Y, lagged only the high of Rs 1.87 trillion reached in April this year.  UPI transactions also saw their highest ever value in October at Rs 17.16 trillion, up 9 per cent from Rs 15.8 tr...
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