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NEW DELHI: <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> India Ltd (MSIL) has appointed two local investment bankers — Kotak Mahindra Capital and Axis Capital — as the company seeks to persuade minority investors to back a controversial plan that calls for the carmaker's proposed Gujarat factory to be set up by parent <keyword id="200508" type="COMPANY" weightage="20" keywordseo="Suzuki-Motor-Corp-">Suzuki Motor Corp.</keyword> 
 Maruti <keyword id="6911" type="CITY" weightage="20" keywordseo="suzuki">Suzuki</keyword>'s manufacturing will be contracted to the plant in a practice that some experts say is unusual for the industry. The move has been opposed by some shareholders who believe it will undermine the Indian unit and divert income to the parent. 
 
Maruti Suzuki is seeking minority shareholder approval under Section 188 of the Companies Act for the special resolution related to the plan. It needs the support of at least three-fourths of its public shareholders to get the proposal passed, which in effect means a bloc with an 11% stake can block the resolution. 
 <keyword id="111052" type="CITY" weightage="20" keywordseo="Suzuki-Motor">Suzuki Motor</keyword> owns a 56.21% stake in MSIL, with the rest being held by the public. The investment bankers won't have any role in trying to sway investors, a Maruti Suzuki spokesperson said by email. They "have not been appointed to convince the institutional investors — domestic or foreign — to vote in favour of the Gujarat project structure," he said. That's being done by a Maruti Suzuki team led by chairman RC Bhargava and managing director and CEO Kenichi Ayukawa, he said. 
 
"The investment bankers are required to identify the investors in various parts of the world, arrange the meetings with them and the necessary logistical support. They are also involved in discussions with MSIL in finalizing the presentations and strategy for the discussions," he said. 
 
The margin of victory needed to get the plan approved came in for some questioning. "The new law requires that the proposal be passed by a special resolution. It is not clear why 26% of minority shareholders should be able to override 74% of minority shareholders in a vote where the promoter is not voting," the spokesperson said. 
 
After strong concerns were raised by domestic institutional investors over the issue, all eyes are now on Life Insurance Corp. (LIC) of India that owns a 6.63% stake in Maruti Suzuki. Domestic mutual funds, which together own a 6.16% stake in Maruti Suzuki, have already opposed the plan. 
 
In case LIC joins hands with them, the combined holding of those against the move would cross 12%, enough to block the resolution. "Given the stance taken by LIC in the case of Cairn India depositing $1.25 billion (Rs 7,500 crore) with its parent Sesa Sterlite, there is all likelihood that the largest Indian institutional investor is likely to oppose the proposal," said the head of one of the mutual funds. 
 
Maruti Suzuki pointed out that the objections by the domestic funds predate changes to the plan. "The letter was written before the March modifications to the original structure," the spokesperson said. "After the March modifications, no one has written to us conveying any concerns about the proposal." 
 
A senior LIC official, who didn't want to be named, said, "LIC has always worked to protect the interests of investors and this case will not be any different." Some believe the state-owned insurer may not oppose the plan. "The feedback we have received that it would support the proposed structure," said another mutual fund head. 
 Incidentally, Suzuki Motor chairman Osamu Suzuki met Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> last week. Mutual fund representatives said the appointment of investment bankers is also aimed at gauging the pulse of investors. In case they're not able to convince more than three-fourths of public shareholders, Maruti Suzuki may revisit its plan to seek shareholder approval. 
 
The next annual general meeting is set for September 4, but the proposal is not on the agenda. "We would not be ready for the vote on this matter by September 4, as we would not have completed our meetings with all investors in India and abroad," said the spokesperson. 
 
The resolution will be taken up at a later time. "The company plans to have a separate shareholders' meeting sometime later this year, which will be contingent upon the ongoing exercise to bring large investors on its side," said a fund manager. 
 
If the Maruti Suzuki plan goes ahead, it could set a precedent. Many promoters of listed companies would prefer to follow the same route that will result in destroying shareholder value, said a senior executive at an insurance company. 
 
"This opens up the door to every single promoter converting their listed company into a marketing arm. Will they now set up manufacturing outfits as 100% owned entities that sell through the listed company?" said Amit Tandon, CEO of Institutional Investor Advisory Services. "On what basis will companies be valued? And where does this end?" 
 
In March, a group of 19 leading domestic institutional investors that includes HDFC Mutual Fund, Birla Sun Life, ICICI Prudential, Reliance Mutual Fund, UTI SBI Mutual Fund and Axis Bank Mutual Fund among others wrote to Maruti Suzuki raising serious concern over the transaction. 
 
"As a policy, we don't comment on market rumours or speculations, hence we would not like to comment on this," said an Axis Bank official. Kotak did not reply to ET's queries. Under the proposed transaction, Suzuki Motor plans to set up the Gujarat project as part of its whollyowned subsidiary, Suzuki Motor Gujarat Pvt (SMG), which in turn will enter into an exclusive long-term contract manufacturing agreement with Maruti Suzuki. 
 
The contract manufacturing agreement would initially be for 15 years and will be automatically extended for a further 15 unless the parties mutually agree to terminate it. 
 
Maruti Suzuki said this would allow it to save on the investment required for setting up the plant to the extent of the equity investment made by Suzuki Motor in SMG. However, the fund managers said Maruti Suzuki is a debt-free company with cash and investments worth Rs 8,000 crore, which earns less than 10% annually, compared with the 20% return on equity. 
 
"Why should idle money not be invested in equity with clear visibility of business," said a fund manager. Maruti Suzuki is confident of gaining the support of stakeholders. "We believe that the financial benefits to minority shareholders are so obvious and large, that the vote would support the proposed structure," the spokesperson said.

Maruti Hires Investment Bankers To Help It Win Investors Nod For Suzuki Plan

<keyword id="100743" type="COMPANY" weightage="80" keywordseo="Suzuki-Motor-Corporation">Suzuki Motor Corporation</keyword>'s 85-year-old CEO <keyword id="130099" type="PERSON" weightage="80" keywordseo="Osamu-Suzuki">Osamu Suzuki</keyword> named his eldest son <keyword id="392681" type="PERSON" weightage="80" keywordseo="Toshihiro-Suzuki">Toshihiro Suzuki</keyword> as the new <keyword id="2540" type="POSITION" weightage="60" keywordseo="President">president</keyword> of <keyword id="6355311" type="COUNTRY" weightage="60" keywordseo="Japan">Japan</keyword>'s fourth-biggest car maker, easing investor concerns over the company's succession plan and boosting its shares. Toshihiro took over the role from his father as president and chief operating officer on Tuesday. Osamu Suzuki remains the <keyword id="150485" type="POSITION" weightage="60" keywordseo="CEO-and-Chairman">CEO and chairman</keyword> of the company, reported the Economic Times. 

	The company also announced its new mid-term plan, where it gave a heavy weight to its Indian subsidiary in its future growth prospects.
 Suzuki said it will try to achieve 3.4 million vehicles sales by the end of the decade aiming to grow at a <keyword id="107168" type="ORGANIZATION" weightage="80" keywordseo="CAGR">CAGR</keyword> of 3% by 2020. Asia is expected to contribute over 64% (2.2 million) of its global volumes by then and India will contribute a lion's share of 58% or 2 million annual sales volumes by then. 

	India contributed around 43% of Suzuki's global sales and 30% of its consolidated profits in FY-15. 
 The Japanese automaker said it expects the passenger vehicle market in India to grow at a compounded rate of 11% for the next five years to 5 million units and become the third largest passenger vehicle market globally by 2020 and Suzuki expects Indian base to retain its high 45% <keyword id="34527" type="UNKNOWN" weightage="80" keywordseo="market-share">market share</keyword>, despite stiff competition. K Ayukawa, MD &amp; CEO, Maruti Suzuki India Limited told ET: "The SMC medium term plan puts high focus on India, which is very positive. Mr T Suzuki has been a <keyword id="151565" type="POSITION" weightage="80" keywordseo="board-member">board member</keyword> of <keyword id="244571" type="COMPANY" weightage="80" keywordseo="MSIL">MSIL</keyword> since October 2013 and has a very good understanding of our business. Overall, SMC's commitment to India remains unchanged". 

	The local Indian subsidiary will not only act as a key production base, but its Japanese parent wants the India operations to globalise the brand further by exporting to newer markets. 
 

	Suzuki Motor Corporation said it will launch 20 new products in the coming five years which may also include full model changes of existing cars and it wants to make India a long term development base by co-developing more with Indian engineers. 
	 
	(Image: Reuters)

Suzuki Motor heir takes over as the new president

New Delhi, Automobile major <keyword id="6365618" type="DOMAIN" weightage="20" keywordseo="maruti-suzuki-india">Maruti Suzuki India</keyword> has commenced export of Suzuki's compact off-roader Jimny from India. Accordingly, the first shipment of 184 units left from <keyword id="46519" type="DOMAIN" weightage="20" keywordseo="Mundra-Port">Mundra port</keyword> to Latin American countries such as Columbia and Peru. Besides, the three-door <keyword id="6610627" type="PERSON" weightage="20" keywordseo="suzuki-jimny">Suzuki Jimny</keyword> will also be exported to the Middle East and African markets from India, the company said on Wednesday. The current generation of Jimny was launched in 2018 by <keyword id="100743" type="COMPANY" weightage="20" keywordseo="Suzuki-Motor-Corporation">Suzuki Motor Corporation</keyword> in Japan. The all-terrain vehicle has a legacy of over 50 years, catering to customers worldwide. According to the company, with India as a production base for Jimny, Suzuki aims to leverage <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>'s global production stature. The company pointed out that there is a large customer demand worldwide well beyond Suzuki Japan capacity for this model and the Indian manufacturing will supplement capacity to meet this global demand. "Jimny manufactured at Maruti Suzuki's Gurugram plant shares the same specification as the export models produced at the Suzuki Motor Corporation's Kosai plant in Japan," said Kenichi Ayukawa, Managing Director &amp; CEO, Maruti Suzuki India. "We are confident with Jimny we will be able to enhance our overall exports." SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms?upcache=2">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a> <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphone-deals-and-discount-on-amazon-great-republic-day-sale/articleshow/80358909.cms">Best smartphone deals and offers on Amazon Great Republic Day Sale</a>

Maruti begins the export of its 'made in India' compact off-roader SUV Jimny

<ul><li><keyword id="100743" type="General" weightage="50" keywordseo="suzuki-motor-corporation" source="Orion">Suzuki Motor Corporation</keyword> on Monday said it expects its automobile sales in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> to be higher than the 5-7 per cent annual growth projected for the domestic market this fiscal.</li><li>In a statement, <keyword id="6911" type="General" weightage="100" keywordseo="suzuki" source="Orion">Suzuki</keyword> stated that it aims to recover its market share in India by introducing sports utility vehicles.</li><li>The Japanese automaker said its operating profit increased by 159.1 billion yen year on year (83.1 per cent) to 350.6 billion in FY 2022.</li></ul>Suzuki Motor Corporation on Monday said it expects its automobile sales in India to be higher than the 5-7 per cent annual growth projected for the domestic market this fiscal. The Japanese automaker, which has a 56.4 per cent stake in the country's leading carmaker <keyword id="6365618" type="DOMAIN" weightage="100" keywordseo="maruti-suzuki-india" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="maruti suzuki india" meta.entityname="Maruti Suzuki India Ltd." meta.entityid="11890" meta.seoname="maruti-suzuki-india-ltd">Maruti Suzuki India</keyword>, on Monday reported a consolidated 30.1 per cent year-on-year increase in net sales at 4,641.6 billion yen for FY 2022 (April 2022- March 2023). In a statement, Suzuki stated that it aims to recover its market share in India by introducing sports utility vehicles. It also noted that the automaker will focus on multiple technological pathways like CNG and hybrid cars and not solely depend on battery electric cars to contribute to carbon neutrality in the Indian market. "We want to contribute to carbon neutrality through a 'multi-path' that includes CNG vehicles, HEVs, etc., rather than focusing solely on BEVs," Suzuki Motor Corp said in a statement referring to the Indian market. The Japanese automaker said its operating profit increased by 159.1 billion yen year on year (83.1 per cent) to 350.6 billion in FY 2022. Suzuki stated that consolidated net sales and profits increased in the last year, mainly owing to the impact of the exchange rates and an increase in volume in markets like India, <keyword id="6355311" type="General" weightage="20" keywordseo="japan" source="Orion">Japan</keyword> and <keyword id="12925" type="General" weightage="50" keywordseo="africa" source="Orion">Africa</keyword>. On a consolidated basis, the profit attributable to owners of the parent increased by 60.8 billion yen (37.9 per cent) to 221.1 billion yen, the automaker stated. In the current fiscal year, the company expects net sales of 4.9 trillion yen, up 5.6 per cent from FY2022 mainly due to an increase in volume, Suzuki stated. Operating profit is expected to be 330 billion yen, down 5.9 per cent from FY2022, due to factors such as increased growth investment to realise the company's growth strategy, as well as the strong yen and increase in raw material prices, it added. For the 2022-23 fiscal, <keyword id="13435058" type="COMPANY" weightage="50" keywordseo="maruti-suzuki" source="Orion" meta.marketcap="280822.6861778" meta.tagname="Maruti Suzuki India Ltd" meta.tagpopularcount="0" meta.sectorid="505" meta.entitytype="company" meta.aum="0" meta.matchtype="exact" meta.entityid="11890" meta.tagseoname="maruti-suzuki-india-ltd" meta.sector="Auto" meta.tagnameorg="Maruti Suzuki India Ltd.">Maruti Suzuki</keyword> India posted a consolidated net profit of Rs 8,211 crore against Rs 3,879 crore in 2021-22. Net sales last fiscal year stood at Rs 1,17,571 crore against Rs 88,330 crore in 2021-22. The company sold a total of 19,66,164 vehicles last fiscal, despite missing production of about 1,70,000 units due to a shortage of electronic components. This translated to a growth of 19 per cent over FY22 sales volume of 16,52,653 vehicles. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

Expect India sales to be higher than industry growth this fiscal: Suzuki Motor

Global automakers are eyeing <a href="http://www.businessinsider.in/searchresult.cms?query=indian+auto+market&amp;sortorder=effectivedate">Indian auto market</a> life never before. The country is becoming a hotspot for auto majors such as <a href="http://www.businessinsider.in/searchresult.cms?query=toyota&amp;sortorder=effectivedate">Toyota</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=hyundai&amp;sortorder=effectivedate">Hyundai</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=volkswagen&amp;sortorder=effectivedate">Volkswagen</a>, etc who want to increase their investments and operations in India. 
 
The interest of these global auto companies can be assessed as they are lining up to meet Indian <a href="http://www.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi&amp;sortorder=effectivedate">Prime Minister Narendra Modi.</a> Latest was when Toyota Motor president Akio Toyoda and <keyword id="111052" type="CITY" weightage="20" keywordseo="Suzuki-Motor">Suzuki Motor</keyword> chairman Osamu Suzuki met Modi. 
 Even world's largest automotive group <keyword id="6361865" type="CITY" weightage="20" keywordseo="Volkswagen">Volkswagen</keyword> is exploring a partnership with India's largest automobile company by revenue, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>. 
 The likes of Kia, PSA, SAIC and others are also queuing up. <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> accounts for half the Indian market while Toyota's Innova and Fortuner head their respective segments. 
 “India is critical for the Japanese parent with 50% of global sales coming from the country. So whatever technology it gets from Toyota will surely be deployed in India,” Maruti Suzuki chairman <keyword id="33298" type="COMPANY" weightage="20" keywordseo="RC-Bhargava">RC Bhargava</keyword> told ET, adding “Nobody wants to miss the opportunity and the size. They don't see the kind of potential growth in any other market like in India. It's just not the growth rate, but the base is also very high.” 
 When Bernhard Maier took over as Skoda Auto's global CEO, he visited India soon after taking over. <keyword id="4581" type="CITY" weightage="20" keywordseo="general-motors">General Motors</keyword> CEO Mary Barra has visited twice in less than a year. Ford Motor executive chairman Bill Ford visited India last year to inaugurate the New Product Development Centre that will create the foundation for India products. 
 <keyword id="596" type="CITY" weightage="100" keywordseo="Hyundai">Hyundai</keyword> Motor chairman Chung Mong-Koo is also expected to visit soon to announce the launch of the Kia brand in India. Carlos Ghosn, global CEO of the Renault-Nissan Alliance and a frequent visitor, told ET he has always been bullish on the Indian market. 
With the passenger vehicle market set to cross the 3 million mark by the end of 2017, India is seen as a future growth centre by all manufacturers.

India is becoming a hot auto market; Toyota, Volkswagen, Hyundai, etc are looking to zoom operations

Japanese car maker <keyword id="20032993" type="General" weightage="20" keywordseo="Suzuki" source="keywords">Suzuki</keyword> Motor Corporation on Monday said it will continue to expand SUV portfolio in India to recover its overall market share in the passenger vehicle segment. The company, which currently has around 58 per cent stake in <keyword id="44883" type="General" weightage="20" keywordseo="maruti-Suzuki" source="Orion">Maruti Suzuki</keyword> India, said its net sales increased by 732.6 billion yen (15.8 per cent) year-on-year to 5,374.3 billion yen for the last financial year. Operating profit increased by 115 billion yen (32.8 per cent) YoY to 465.6 billion yen. "We will continue to promote the expansion of our SUV models (in India) and aim to recover our total passenger car share," Suzuki Motor Corporation said in a statement. Currently, <keyword id="19950117" type="General" weightage="20" keywordseo="Maruti" source="keywords">Maruti</keyword> Suzuki sells SUV (sport utility vehicle) models like Brezza, Jimny and Grand Vitara in the domestic market. The company's market share has come down to around 42 per cent from over 50 per cent a couple of years back in the domestic passenger vehicle segment on account of limited options in the SUV segment. With the market demand rising for SUVs, the company is in the process of bolstering its presence in the segment and regaining its market share. Suzuki Motor Corp said that in April 2024, a new production line with an annual capacity of 1 lakh units started operations at the Manesar plant. The company said it plans to secure a production capacity of around 40 lakh units in India by FY2030. Suzuki Motor Corp said it expects record sales and profits this fiscal due to higher unit sales. "The company is compiling strategies in various fields, including technology, and will announce the new mid-term management plan by the end of FY2024," it stated. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank">OnePlus Nord CE 4 Lite to launch soon in India – expected price, specs and everything we know so far</a><a href="https://www.businessinsider.in/stock-market/news/aadhar-housing-finance-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110071990.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/aadhar-housing-finance-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110071990.cms" target="_blank">Aadhar Housing Finance IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a>

Suzuki says will continue to expand SUV portfolio to recover mkt share in India

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Paulo Whitaker A Toyota concept car.</div></div></div>Toyota and and Suzuki are talking about an alliance, and the initial response, <a href="http://www.bloomberg.com/news/articles/2016-10-12/toyota-explores-research-and-development-partnership-with-suzuki">according to Bloomberg's Craig Trudell, Yuki Hagiwara, and Jie Ma</a>, is dubious."In exploring collaboration between Toyota and Suzuki Motor Corp., chieftains Akio Toyoda and Osamu Suzuki seek to tie together companies with a history of failed alliances," they wrote.A Toyota-Suzuki marriage would be quite the family business, obviously. Bloomberg focuses on the R&amp;D benefits that Suzuki would reap, but there's a chance that Toyota wants a tie-up because of it's struggles in China - and Suzuki's strength in India."What Suzuki brings to the table is a leading position in India," Bloomberg noted. "Its Maruti Suzuki India Ltd. unit has long dominated the market with inexpensive cars like the Alto and Swift. Though Toyota has introduced budget models such as the Etios compact, its market share remains well behind the 47 percent<a href="https://marutistoragenew.blob.core.windows.net/msilintiwebpdf/Transcription_of_Maruti_Suzuki-26th_April_2016.pdf" target="_blank" title="Maruti earnings call transcript" data-tracker-action="click" data-tracker-category="nav" data-tracker-label="inline_link.02"> </a>reached by Maruti Suzuki last fiscal year."India is Suzuki's bright spot. The automaker left the US car market in 2012, as its lineup of vehicles had captured negligible market share. But it's expertise in small cars has yielded tremendous success in India, a growth market that if often overshadowed by China.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersLogo of Suzuki Motors is displayed at the 44th Tokyo Motor Show in Tokyo, Japan</div></div></div>Toyota's position in China, already the world's largest market, is weak compared with automakers such as Volkswagen and General Motors, which combined hold about 30% share in the Middle Kingdom, thought joint-ventures with Chinese carmakers. Toyota only has around 5%.That's a gigantic amount of ground to make up, so Toyota could be looking at Suzuki as a key way to get in on that nearly 50% share in India - especially given that Toyota holds only about 5% of that market, as well.The problem with very weak market share is that it's difficult to turn the situation around. Volkswagen has this problem in the US, where it's share is meager relative to its global rivals. Ford got a late start in China and has been gaining, but it's going to take a while before it's truly competitive with GM and VW.Suzuki smaller, cheaper strategy has been a perfect fit for India. Now Toyota may see that market as a better place to invest resources than continuing to struggle in China. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/toyota-kirobo-mini-robot-baby-lonely-people-2016-10"> Toyota created a $392 baby robot to help comfort people in Japan without children</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="prMDU5NjE6QjL0MpK1cAq1fKAv4bqry5" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Toyota's potential partnership with Suzuki highlights problems in China

New Delhi, Mar 23 () Auto stocks plunged up to 20 per cent on Monday as companies have suspended their production due to the coronavirus outbreak. Motherson Sumi Systems cracked 20 per cent and Ashok Leyland fell 18 per cent, Maruti Suzuki India (17.02 per cent), Bajaj Auto (13.95 per cent) and Apollo Tyres (13.86 per cent). Shares of TVS Motor Company settled 12.94 per cent down while that of MRF and Eicher Motors dropped 12.34 per cent and 11.87 per cent, respectively, on the BSE. Likewise, Hero MotoCorp declined 11.07 per cent, Tata Motors (9.95 per cent) and M&amp;M (9.06 per cent). The BSE Auto Index tumbled by 13.35 per cent. The country's largest two-wheeler maker Hero MotoCorp on Sunday said it has suspended production at all its sites across the globe until March 31, 2020 in order to safeguard its employees against coronavirus infections. On Monday, Maruti Suzuki India (MSI) said Suzuki Motor Gujarat has suspended production at its Gujarat-based plant to check the spread of COVID-19. Suzuki Motor Gujarat manufactures cars on contract basis for MSI. The company has been informed by Suzuki Motor Gujarat Pvt Ltd (SMG) that pursuant to Gujarat government directive to check the spread of COVID-19 transmission, they are closing their plant operations with effect from B-shift from March 23 through March 25, 2020, as per a regulatory filing. Rockman Industries, the auto components arm of the Hero Group, on Monday said it has suspended all operations at its seven manufacturing facilities till March-end due to coronavirus outbreak. SUM RAM

Coronavirus: Auto stocks skid up to 20 pc on production suspension

New Delhi, May 2 () Maruti Suzuki India on Saturday said its car seat manufacturing joint venture, Krishna Maruti Ltd, has handed over the first batch of 5 lakh units of triple-ply face masks to Gujarat administration at Gandhinagar. Krishna Maruti, the joint venture between Maruti Suzuki and Krishna Group, had committed to donating 10 lakh triple-ply masks to Gujarat government. The mask was developed by engineers of Maruti Suzuki and Krishna Group with almost hourly monitoring by Maruti Suzuki management and active support by Department of Textiles, Government of India and was finally approved by SITRA laboratory. Speaking on the initiative, Krishna Group Chairman Ashok Kapur said, "We have committed 1 million masks each to Haryana and Gujarat governments." "I am also planning to import some machines and produce N-95 masks. All important safety and physical distancing guidelines were observed while manufacturing these masks at our facilities to ensure the safety of all the staff."Krishna group has its manufacturing plant next to Suzuki Motor Gujarat (SMG) plant at Hansalpur. SMG, which is a subsidiary of a Suzuki Motor Corp, manufactures cars on a contract basis for Maruti Suzuki India Ltd. RKL MRMR

Maruti Suzuki India JV hands over 5 lakh face masks to Guj govt

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Kim Kyung-Hoon/ReutersSuzuki Motor CEO Toshihiro Suzuki presents EV e-Survivor during a media preview of the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017.</div></div></div>Automakers are showing off some wild concept vehicles at the 2017 Tokyo Motor Show, which kicked off Saturday and will run until November 5.Here's a look at some of the most futuristic vehicles on display.

These are the most bizarre cars at the Tokyo Motor Show

<ul><li>India’s largest carmaker Maruti Suzuki trimmed over a third of its output, owing to the sales slowdown. </li><li>Suzuki, in a stock exchange notice claimed that it has produced 111,370 units in August. </li><li>The company’s domestic passenger vehicle sales also went down by 36.1% at 93,173 units. </li><li>Suzuki shed over 1,000 temporary employees due to the slump in sales.</li></ul>India’s largest carmaker Maruti Suzuki trimmed over a third of its output, owing to sales slowdown. It reduced the <a href="https://www.financialexpress.com/industry/as-sales-fall-maruti-suzuki-cuts-output-by-34-pct/1694285/">output by 34%</a> in August, the company said. While it has been trimming output since February. In August, it produced only 111,370 units, Suzuki said in a stock exchange notice. The 11-month auto slowdown has taken a toll on the automaker’s most lucrative segment. The small segment cars such as WagonR and Alto have been the worst hit with a 63% decline in output. It also trimmed the production of its mini segment cars Baleno and Swift by 34%. This slash is in line in dull demand. In August, its sales for the mini segment declined by a massive 71% as compared to last year. “Production is never steady in many industries and it depends on how the market behaves,” R C Bhargava, Chairman of Maruti Suzuki <a href="https://www.financialexpress.com/industry/as-sales-fall-maruti-suzuki-cuts-output-by-34-pct/1694285/">told </a>The Financial Express. The company’s domestic passenger vehicle sales also went down by 36% to 93,173 units. Suzuki shed over 1,000 temporary employees, and is planning to freeze hiring. Plant shutdowns Top players like Tata Motors, Hero MotorCorp and Mahindra too have cut down production due to demand so sluggish that many dealerships have shuttered down. Mahindra &amp; Mahindra shut its operations for 25-30 days over the last two quarters. Companies like Tata Motors, Honda Cars also shut its plants for nearly 4-10 days in the last few months, thanks to the declining demand. Homegrown automotive multinational <a href="https://www.businessinsider.in/the-maker-of-general-motors-and-toyotas-parts-in-india-is-folding-up-axing-thousands-of-jobs/articleshow/70603130.cms">Jamna Auto Industries </a>(JAI) and the third largest suspension spring manufacturer in the world suspended operations in August, Reuters reported. Some of its Indian and global clients include General Motors Co, Toyota Motor Corp, Tata Motors and Mahindra — all of whom are victims of a worldwide auto slowdown. See also: <a href="https://www.businessinsider.in/the-maker-of-general-motors-and-toyotas-parts-in-india-is-folding-up-axing-thousands-of-jobs/articleshow/70603130.cms">The maker of General Motors and Toyota's parts in India is folding up — axing thousands of jobs</a> <a href="https://www.businessinsider.in/auto-sales-continue-to-decline-in-august/articleshow/70941671.cms">Tata Motors August sales are lower by 49% as auto industry's stuck in the slow lane</a> <a href="https://www.businessinsider.in/suzuki-and-toyota-will-pool-money-in-a-tie-up-to-beat-global-auto-competition/articleshow/70872106.cms">Suzuki and Toyota have decided to pool money to beat competition in global auto industry</a>

You Searched For "Suzuki Motor" and got 11 results

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These are the most bizarre cars at the Tokyo Motor Show

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