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<keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="261" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> reported its <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> <keyword id="20423741" type="General" weightage="20" keywordseo="monthly-sales" source="keywords">monthly sales</keyword> volume at 206,434 units. Total sales in the month include <keyword id="20025843" type="General" weightage="20" keywordseo="domestic-sales" source="keywords">domestic sales</keyword> of 163,130 units, sales to other original equipment manufacturers (OEMs) of 10,136 units and the highest-ever monthly <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> of 33,168 units. Festival season and on top of that the deep discounts offered by various automakers have invariably helped dealers sell more cars this October. Here is a table listing out the <keyword id="19909974" type="General" weightage="100" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> India car-wise sales figures in October: In October, total sales, domestic plus exports combined, were 3.6 per cent higher year-on-year. So far in 2024-25 - April to October, the total sales were 1.64 per cent higher year-on-year. Coming to exports, the shipments in October and April-October were 51 per cent and 17 per cent, higher year-on-year, respectively. In the fiscal year 2023-24, the company exported over 2.8 lakh units to more than 100 countries, holding a commanding 42 per cent share in the country's passenger vehicle exports. In other news, Maruti Suzuki India recently reached a significant milestone, with ist <keyword id="21943254" type="General" weightage="20" keywordseo="Manesar-facility" source="keywords">Manesar facility</keyword> crossing the 1 crore cumulative production mark. The Manesar plant achieved this feat in just 18 years, making it the fastest among Suzuki's global automobile manufacturing facilities to reach the 1 crore production milestone. The facility, which commenced operations in October 2006, is spread over 600 acres and manufactures a range of models, including Brezza, Ertiga, XL6, Ciaz, Dzire, Wagon R, S-Presso, and Celerio. These vehicles serve both domestic and international markets, with exports reaching regions such as Latin America, the Middle East, Africa, and neighboring Asian countries. Since its inception, Maruti Suzuki has produced over 3.1 crore vehicles, reinforcing its leadership in the Indian <keyword id="19945567" type="General" weightage="20" keywordseo="automotive-industry" source="keywords">automotive industry</keyword>. Maruti Suzuki India Limited also started the export of its acclaimed 'Made-in-India' SUV, the Fronx.

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

<keyword id="21991719" type="General" weightage="20" keywordseo="passenger-vehicle-exports" source="keywords">Passenger vehicle exports</keyword> from India rose by 2.68 lakh units in the last four financial years with <keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="153" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> accounting for nearly 70 per cent of the <keyword id="21991720" type="General" weightage="20" keywordseo="incremental-shipments" source="keywords">incremental shipments</keyword> during the period. As per the industry data, passenger vehicle exports in the 2020-21 fiscal stood at 4,04,397 units. It rose to 5,77,875 units in the 2021-22 fiscal year and to 6,62,703 units in 2022-23 financial year. Last fiscal, exports stood at 6,72,105 units, an increase of 2,67,708 units since 2020-21. In the last three fiscal years, <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> has accounted for 70 per cent of the incremental 2,67,708 units across the industry which were shipped to overseas markets. The auto major's export shipment increased by 1,85,774 units between FY21 and FY24. When contacted, <keyword id="21223168" type="General" weightage="20" keywordseo="maruti-suzuki-india-executive" source="keywords">Maruti Suzuki India Executive</keyword> Officer Corporate Affairs Rahul Bharti said that factors like addition of more models, adherence to global production standards and tie-up with Toyota have helped in ramping up the exports' volume. He noted that the company is currently exporting models to around 100 nations across the globe. Top overseas markets for the company currently are South Africa, Saudi Arabia, Chile and Mexico. Other major markets include the Philippines, Indonesia and Ivory Coast. MSI exports models like Baleno, Dzire, Swift, S-Presso, Grand Vitara, Jimny, Celerio and Ertiga. As per SIAM data, overall <keyword id="21991650" type="General" weightage="20" keywordseo="PV-exports" source="keywords">PV exports</keyword> stood at 6,72,105 units in FY24, an increase of 1.4 per cent over 6,62,703 units in FY2023. MSI exported 2,80,712 units last fiscal, an increase of 10 per cent over 2,55,439 units in FY23. Rival Hyundai shipped 1,63,155 units in FY24 as compared with 1,53,019 units in FY23, an increase of 7 per cent.

Passenger vehicle exports rise by 2.68 lakh units in last 4 years; Maruti accounts for 70% of incremental shipments

The country's largest carmaker <keyword id="44883" type="General" weightage="100" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> on Wednesday reported a 12 per cent increase in total sales at 1,72,535 units in January. The company had sold a total of 1,54,379 units in the year-ago period, Maruti Suzuki India Ltd (MSIL) said in a statement. Total domestic passenger vehicle sales were at 1,55,142 units as compared to 1,36,442 units in the corresponding period the previous year, a growth of 14 per cent, it added. Maruti Suzuki India Senior Executive Officer Marketing &amp; Sales Shashank Srivastava said the industry began with a low network stock because of high retails in December. "Therefore, the depleted inventory resulted in slightly muted retails, taking up the network stock to 1.84 lakh units. On the demand side, the enquiries and bookings have been steady despite price hikes done by several OEMs," he noted. Constraints of production still continue due to the semiconductor supply situation, which resulted in some loss in wholesales as well as retail, Srivastava said. This issue is expected to continue for a few more months, he added. Sales of mini segment cars, comprising <keyword id="6412620" type="General" weightage="50" keywordseo="alto" source="Orion">Alto</keyword> and S-Presso, grew to 25,446 units as against 18,634 units last month. Sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR, rose to 73,840 units as compared to 71,472 units in the year-ago month. Utility vehicles, consisting of Brezza, Ertiga, S-Cross and XL6, clocked sales of 35,353 units last month as compared to 26,624 units earlier. Sales of <keyword id="14869473" type="General" weightage="50" keywordseo="van-eeco" source="Orion">van Eeco</keyword> were at 11,709 units in January as against 10,528 units the previous year, while that of light commercial vehicle <keyword id="2702763" type="General" weightage="50" keywordseo="super-carry" source="Orion">Super Carry</keyword> stood at 4,019 units as against 3,537 units earlier. MSI said its exports last month stood at 17,393 units as compared to 17,937 units in the same month last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mukesh-ambani-overtakes-gautam-adani-as-the-richest-indian/articleshow/97519749.cms">Mukesh Ambani overtakes Gautam Adani as the richest Indian on the Forbes Real-Time Billionaires List</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/insurance-policies-where-premium-is-above-5l-no-more-tax-exempt/articleshow/97521396.cms">Insurance policies where premium is above ₹5L no more tax exempt</a>

Maruti Suzuki sales rise 12% in January

New Delhi, <keyword id="6912" type="General" weightage="20" keywordseo="Maruti" source="Orion">Maruti</keyword> Suzuki India on Tuesday launched compact-format <keyword id="20024960" type="General" weightage="20" keywordseo="nexa" source="keywords">Nexa</keyword> service workshops with plans to have 100 such outlets across the country by the end of next fiscal. Through this strategic move the auto major aims to bring the Nexa service experience to customers in non-urban centres, the company said in a statement. The first six centres inaugurated are strategically located in Ateli (Haryana), Charkhi Dadri (Haryana), Bankura (West Bengal), Dahod (Gujarat), Nirmal (Telangana), and Ooty (<keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword>), it added. "With the growing similarities in consumer preferences in urban and non-urban centres, there is a notable increase in interest for our Nexa offerings from both regions," Maruti Suzuki India (MSI) Managing Director &amp; CEO Hisashi <keyword id="20479960" type="General" weightage="20" keywordseo="takeuchi" source="keywords">Takeuchi</keyword> stated. Almost 30 per cent of the Nexa sales come from non-urban centres, he added. "To cater to these customers, we are introducing these compact-format Nexa service workshops. Our goal is to set up 100 such workshops by the end of FY 2024-25," Takeuchi noted. Having introduced Nexa Service in 2017, MSI has expanded its presence to over 390 service touchpoints, serving customers nationwide. MSI sells its models range through Arena and Nexa sales outlets. Models like <keyword id="20073693" type="General" weightage="20" keywordseo="grand-vitara" source="keywords">Grand Vitara</keyword>, Invicto and XL6 are sold through Nexa network while the others like <keyword id="20479959" type="General" weightage="20" keywordseo="wagon" source="keywords">Wagon</keyword> R, Swift, Dzire and Brezza are retailed through its Arena outlets.

Maruti launches compact format Nexa service workshops for non-urban areas

Automobile <keyword id="6365618" type="DOMAIN" weightage="20" keywordseo="maruti-suzuki-india">Maruti Suzuki India</keyword> on Saturday said it has accomplished two million (20 lakh) vehicle <keyword id="35090" type="COMPANY" weightage="20" keywordseo="exports">exports</keyword>. Accordingly, <keyword id="44883" type="DOMAIN" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> commenced export of vehicles in FY1986-87. The company's first large consignment of 500 cars was shipped to Hungary in September 1987. In FY2012-13, the Company achieved the milestone of one-million exports. "In the first million, more than 50 per cent of exports were undertaken to developed markets in Europe," the company said in a statement. According to the statement, Maruti <keyword id="6911" type="DOMAIN" weightage="20" keywordseo="suzuki">Suzuki</keyword> achieved the subsequent million in over eight years with special focus on emerging markets in Latin America, Africa and Asia regions. "With concerted efforts, the Company has been able to gain sizeable share in markets like Chile, Indonesia, South Africa and Sri Lanka. Models such as Alto, Baleno, <keyword id="20080" type="PERSON" weightage="20" keywordseo="dzire">Dzire</keyword> and <keyword id="6360068" type="COMPANY" weightage="20" keywordseo="swift">Swift</keyword> have emerged as popular choices in these markets." Currently, we export 14 models, nearly 150 variants, to over 100 countries. In January this year, the Company started <keyword id="22637" type="COMPANY" weightage="20" keywordseo="production">production</keyword> and export of Suzuki's celebrated compact off-roader Jimny from <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. "With India as a production base for Jimny, Suzuki aims to leverage Maruti Suzuki's global production stature." SEE ALSO: <a href="https://www.businessinsider.in/india/news/bharat-bandh-over-eight-crore-traders-across-india-shut-shop-in-protest-against-rising-fuel-prices-and-changes-in-gst-rules/articleshow/81223361.cms">Bharat Bandh – over eight crore traders across India shut shop in protest against rising fuel prices and changes in GST rules</a> <a href="https://www.businessinsider.in/finance/banks/news/ignore-low-cibil-score-for-street-vendor-loans-work-on-holidays-and-other-diktats-from-indian-government-to-banks-rushing-to-meet-march-target/articleshow/81223572.cms">EXCLUSIVE: Ignore low CIBIL score for street vendor loans, work on holidays, and other diktats from Indian government to banks rushing to meet March target</a> <a href="https://www.businessinsider.in/india/news/india-now-allows-you-to-avail-a-discount-on-flight-ticket-if-you-are-not-carrying-a-check-in-baggage/articleshow/81225977.cms">India now allows you to avail a discount on flight ticket if you are not carrying a check-in baggage</a>

Maruti Suzuki completes two million vehicle exports since 1986-87

The country's largest carmaker <keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India (MSI) witnessed a massive over two-fold drop in <keyword id="22637" type="General" weightage="20" keywordseo="production" source="Orion">production</keyword> last month owing to the shortage of semiconductor chips. In a regulatory filing, the auto major reported total production of 81,278 units in September as compared with 1,66,086 units in September 2020. "Production volume of the company in September 2021 was affected due to electronic components shortage," it noted. MSI said total passenger vehicle production stood at 77,782 units last month, as against 1,61,668 units in September 2020. Production of <keyword id="913938" type="General" weightage="20" keywordseo="mini-cars" source="Orion">mini cars</keyword> comprising Alto and S-Presso models stood at 17,163 units last month as against 30,492 units a year ago. Similarly, manufacturing of compact cars, comprising WagonR, Celerio, Ignis, Swift, Baleno and Dzire, declined to 29,272 units from 90,924 units earlier, MSI said. Production of utility vehicles -- Gypsy, Ertiga, S-Cross, Vitara Brezza and XL6 -- dropped to 21,873 units last month from 26,648 units in the corresponding month of 2020. The company also reported a drop in the production of its Eeco van at 8,025 units last month as compared with 11,183 units in September 2020. MSI said production of its light commercial vehicle Super Carry stood at 3,496 units last month, as against 4,418 units in the year-ago month. MSI had reported a 8 per cent drop in total production in August on a yearly basis at 1,13,937 units. On August 31, the auto major had announced that it expects total vehicle production in September across its plants in <keyword id="41646" type="General" weightage="20" keywordseo="Haryana" source="Orion">Haryana</keyword> and Gujarat to be just 40 per cent of the normal output due to the semiconductor shortage. The company's production capacity at Gurgaon and Manesar plants in Haryana is around 15 lakh units per annum. Besides, Suzuki Motor Gujarat (SMG), a 100 per cent subsidiary of Japan's <keyword id="100743" type="General" weightage="20" keywordseo="suzuki-motor-corporation" source="Orion">Suzuki Motor Corporation</keyword>, has an additional installed production capacity of 7.5 lakh units per annum. SMG supplies cars exclusively to MSI. Semiconductors are silicon chips that cater to control and memory functions in products ranging from automobiles, computers and cell phones to various other electronic items. The usage of semiconductors in the auto industry has gone up globally in recent times with new models coming with more and more electronic features such as Bluetooth connectivity and driver-assist, navigation and hybrid-electric systems. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ai-powered-professional-networking-platform-lunchclub-is-now-open-for-indian-users/articleshow/86936966.cms">AI-powered professional networking platform Lunchclub is now open for Indian users</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/is-urban-company-heading-the-ola-uber-way-with-over-100-beauticians-taking-to-the-street/articleshow/86935701.cms">Is Urban Company heading the Ola, Uber way with over 100 beauticians taking to the street?</a>

Maruti Suzuki reports over two-fold dip in production in September

<ul><li>Overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year.</li><li>Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month.</li><li>MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year.</li></ul>New Delhi, Maruti Suzuki India (MSI) and Hyundai posted single-digit growth in domestic sales in June, even as the overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year. Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month. MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year. Maruti Suzuki India, the country's largest carmaker, said its domestic passenger vehicle sales rose 8 per cent to 1,33,027 units in June against 1,22,685 units in the year-ago period. Sales of mini cars, comprising Alto and S-Presso, fell marginally to 14,054 units compared to 14,442 units a year ago. Similarly, sales in the compact segment, models such as Swift, Celerio, Ignis, Baleno and Dzire, slumped 17 per cent to 64,471 units from 77,746 cars in June 2022. Utility vehicle sales, including Brezza, Grand Vitara and Ertiga, however, surged over two-fold to 43,404 units compared to 18,860 vehicles in the year-ago month, MSI said. MSI Senior Executive Officer (Marketing and Sales) Shashank Srivastava said the automaker grew faster than the industry in June, enabling it to scale up its overall market share by 2.4 per cent to 41 per cent. The overall passenger vehicle industry dispatches grew by 1.9 per cent to 3,27,700 lakh units from 3,21,600 lakh units in the year-ago period, he said. MSI, on the other hand, dispatched 1,33,027 lakh passenger vehicles last month, up 8 per cent from 1,22,685 lakh units in June 2022. Srivastava noted that the domestic passenger vehicle segment has crossed 20 lakh sales-mark in the first half of the year, a 10 per cent growth over 18.31 lakh units dispatched in the January-June period of 2022. MSI dispatches to dealers during the period stood at 8,61,000 units over 7,87,000 units in the corresponding period a year ago, he added. He noted that the company's SUV market share rose to 21 per cent in the April-June quarter this fiscal, compared to an 8.5 per cent market share in the same period of the preceding fiscal. Srivastava noted that with the addition of new models like Jimny and Fronx, the company remained hopeful of attaining around 25 per cent market share in the segment to take the top slot in the segment by the end of the current financial year. On supply chain shortages, he said the situation is expected to get better in the current quarter. MSI currently has a pending order backlog of 3.55 lakh units, he stated. When asked about challenges, Srivastava said that high-interest rates and chances of an erratic monsoon were some of the factors, which the company was closely monitoring. Rival Hyundai Motor India reported a 2 per cent rise in its domestic sales at 50,001 units last month from 49,001 units in June 2022. "There is a positive customer traction for all our products and Verna, Creta and Tucson have attained leadership positions in their respective segments in the first half of CY23," HMIL COO Tarun Garg said. Toyota Kirloskar Motor also said its total wholesales increased 19 per cent to 19,608 units in June compared to 16,512 units in the year-ago period. Its domestic dispatches stood at 18,237 units while overseas shipments were at 1,371 units. "Ever since the launch of Urban Cruiser Hyryder and Innova Hycross, we are witnessing continued high acceptance by our customers," TKM Vice President (Sales and Strategic Marketing) Atul Sood said. On the other hand, Kia India said its domestic wholesales declined 19 per cent to 19,391 units in June. The company dispatched 24,024 units to dealers in June 2022. "We have kept our performance steady with healthy growth, despite the realignment of our manufacturing process to accommodate the development of the new Seltos this month," Kia India National Head (Sales &amp; Marketing) Hardeep Singh Brar said. With the launch of new Seltos, the automaker aims to be one of the top mid-SUV segment leaders again and hopes for a strong sales surge, he added. Another automaker, MG Motor India reported a 14 per cent increase in retail sales at 5,125 units in June 2023 against 4,504 units in the same month last year. "Supplies were disrupted in the wake of cyclone Biparjoy though customer demand should now gain momentum following the monsoon as India gears up for a long festive season," the company said.

Maruti, Hyundai post single-digit rise in June PV sales; industry crosses record 20 lakh units in H1 2023

The country's <keyword id="9503441" type="UNKNOWN" weightage="20" keywordseo="largest-carmaker-maruti-suzuki-india">largest carmaker Maruti Suzuki India</keyword> on Thursday launched its vehicle lease subscription service for individual customers under 'Maruti Suzuki Subscribe' brand. The company said it has tied up with ORIX Auto Infrastructure Services Ltd, a subsidiary of ORIX Corporation, Japan, to launch the subscription service in India. The subscription service will begin as a pilot project in Gurugram and Bengaluru and will be initially available on Swift, Dzire, Vitara Brezza and Ertiga from Maruti Suzuki ARENA Channel and Baleno, Ciaz and XL6 from NEXA Channel, the company said in a regulatory filing. Maruti <keyword id="1500649" type="DOMAIN" weightage="20" keywordseo="Suzuki-India">Suzuki India</keyword> joins rival <keyword id="108829" type="COMPANY" weightage="20" keywordseo="Hyundai-Motor-India">Hyundai Motor India</keyword>, which had last year launched its subscription model initially in six cities across India as part of its partnership with self-drive car-sharing firm Revv. Similarly, MG Motor India also offers its subscription services through a strategic tie-up with Myles, the car sharing and car subscription company from Carzonrent. In May this year, German car maker Volkswagen had also launched its car-leasing schemes allowing customers to lease all BS-VI compliant cars in its portfolio with a minimum lock-in period ranging from 2-4 years. Automobile industry players are looking at new ways of pushing sales and making vehicles accessible to customers in the wake of the COVID-19 pandemic which has added a further blow to the sector that was reeling through a prolonged slump from last year. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/maruti-suzuki-share-price-investors-expect-sales-and-margin-to-shrink/articleshow/75708285.cms" data-type="tilCustomLink">Maruti Suzuki saw a sales decline of 16% in Jan-March⁠— investors wait to see the margin squeeze</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-maruti-and-hyundai-offer-discounts-on-cars/articleshow/76324233.cms" data-type="tilCustomLink">After Maruti and Hyundai, Tata Motors offers discounts as car makers get squeezed between slow sales and slower registrations</a>

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