The World Opinion

Tag: Maruti Suzuki

  • Maruti To Raise Deferred Tax Liability Provision By Rs 850 Crore In Q2 On Indexation Removal | Auto News

    Maruti Suzuki India on Saturday said it would need to increase provision for deferred tax liability by around Rs 850 crore due to the withdrawal of indexation benefit while calculating long-term capital gains on debt mutual funds. The company was making accounting provisions for deferred tax liability on fair value gains on these investments, Maruti Suzuki India said in a regulatory filing.

    A one-time impact on profit after tax will be felt in the second quarter of the ongoing fiscal, it added. In the Finance (No.2) Act 2024, the indexation benefit has been withdrawn while calculating long term capital gains on debt mutual funds which were purchased prior to April 1, 2023, it added.

    “Due to withdrawal of indexation benefit and change in rate of tax from 20 per cent plus surcharge and cess (with indexation) to 12.5 per cent plus surcharge and cess (without indexation), accounting provision for deferred tax liability so created needs to be restated,” the automaker said.

    Consequently, it said, “The accounting provision for deferred tax liability created by the company as on June 30, 2024 would need to be increased approximately by Rs 8,500 million thereby having a one time impact on the profit after tax of the company for Q2 of FY 2024-25.”

    Maruti Suzuki India Chief Investors Relations Officer Rahul Bharti in a statement said this is only an accounting provision at this stage due to the change of tax rules by removing the Indexation benefit on the mark to market gains. “The actual tax outflow will happen subsequently at future dates as and when we redeem those mutual funds,” he added.

    Bharti asserted that this is not related to operations and will not impact the company’s operational profit. “It will affect the tax on other income in respective future dates whenever we redeem those funds,” he added.

  • Maruti Suzuki Starts Exporting Made-in-India Fronx To Japan | Auto News

    Maruti Suzuki Fronx Export To Japan: Maruti Suzuki India on Tuesday started exporting its ‘Made-in-India’ SUV- Fronx, to Japan. The first shipment of more than 1,600 Fronx SUVs departed Pipavav Port in Gujarat for Japan. The Fronx is Maruti Suzuki’s second vehicle to be exported to Japan, following the Baleno, which debuted in 2016. Maruti Suzuki’s parent firm, Suzuki Motor corporation, plans to debut the SUV in Japan this autumn.

    The Fronx is exclusively produced in Maruti Suzuki’s factory in Gujarat. Expressing his excitement, Hisashi Takeuchi, Managing Director and CEO of Maruti Suzuki India Limited, said, “I am proud to share that our ‘Made-in-India’ Fronx will soon be seen on the roads in Japan. Japan is one of the most quality-conscious and advanced automobile markets in the world.”

    Fronx was launched in India in the second quarter of 2023. In July 2023, the company commenced export of Fronx to destinations like Latin America, the Middle East and Africa.

    Union Commerce Minister Piyush Goyal praised the nation’s growing manufacturing prowess, stating that Maruti Suzuki’s SUV exports to Japan are evidence of the “Make In India” campaign’s success. 

    The Union Minister said in the post on social media platform “X”, that it is truly a proud moment as these SUVs are being exported for the first time to Japan.

    In the post, he wrote, “A truly proud moment as a consignment of over 1,600 ‘Made In India’ SUVs from @Maruti_Corp is exported for the first time to Japan.”

    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.

    The company achieved a record-breaking export figure of 70,560 units in Q1 FY 2024-25, marking the highest-ever Q1 export performance in its history.

    (Inputs- ANI/IANS)

  • Maruti Suzuki Expects Over 30 Per Cent Jump In CNG Vehicle Sales At 6 Lakh Units In FY25 | Companies News

    New Delhi: Maruti Suzuki India expects its CNG car sales to rise over 30 per cent to around 6 lakh units this fiscal, according to a senior company official.

    The country’s largest carmaker also aims to export around 3 lakh units in the ongoing financial year. “So CNG, this year, we did about 4,50,000 (units) in passenger vehicles. We are hoping to do something like 6,00,000 vehicles in FY24-25,” Maruti Suzuki India Executive Director Corporate Affairs Rahul Bharti said in an analyst call.

    The company sells CNG trims across various models like WagonR, Brezza, Dzire, and Ertiga, among others in the domestic market. Bharti said the company’s capacity expansion by around 1 lakh units per annum at its Manesar plant, in Haryana largely addresses the Ertiga supply issues.

    Ertiga CNG demand is huge in the market leading to supply issues, he noted. On overseas shipments, Bharti said the company aims to export about 3 lakh units.

    “We did about 2,83,000 units in FY24. Despite the fact that we’ve increased substantially over the usual 1,00,000 units per year that we used to do just about 4 years ago. We wish to take it further in the future years. “And this year, we should be doing about 3,00,000 units fairly diversified across markets, across products,” he noted.

    Replying to a separate query on the company’s upcoming plant at Kharkhoda in Haryana, Bharti said the project is part of the automaker’s ambitious growth plan. “Construction is already in progress at Kharkhoda and the first plant with an annual production capacity of 2,50,000 units is on course to be operational in 2025,” he said.

    The company has space to set up four such plants with a total capacity of 10 lakh units in Kharkhoda, he added. Maruti Suzuki aims to produce 40 lakh vehicles per year by FY2030-31, almost double from current levels.

  • 2024 Maruti Suzuki Swift Unofficial Bookings Commences: Details

    The 2024 Maruti Suzuki swift is expected to get a 1.2L, 3-cylinder naturally aspirated Z-Series petrol engine.

  • Maruti Offers BIG DISCOUNT On Jimny; Exciting Price Drops On Fronx, Baleno And Other Popular Models. Read Here | Auto News

    Maruti Suzuki is rolling out attractive discounts on a range of its popular models in April 2024. These discounts are part of the company’s strategy to move stock and entice customers with compelling offers. Let’s delve into the details of these exciting price drops.

    Maruti Suzuki Fronx

    The Maruti Suzuki Fronx, a variant based on the Baleno platform, is receiving a substantial discount package. Customers opting for the turbo-petrol variant can enjoy benefits totalling Rs 68,000. This includes a cash discount of Rs 15,000, an exchange bonus of Rs 10,000, corporate benefits worth Rs 13,000, and the enticing Velocity Edition kit valued at Rs 30,000.

    Maruti Suzuki Grand Vitara

    Despite entering the mid-size SUV segment relatively late, the Maruti Suzuki Grand Vitara has garnered significant success. In April 2024, the Grand Vitara Strong Hybrid versions are available with benefits worth Rs 79,000. This package comprises a cash discount of Rs 25,000, an exchange bonus of Rs 50,000, and additional corporate benefits amounting to Rs 4,000.

    Maruti Suzuki Jimny

    The rugged and versatile Maruti Suzuki Jimny is a favourite among off-road enthusiasts. To make this compact SUV more accessible, Maruti Suzuki is offering a generous cash discount of Rs 1.5 lakh on the MY2023 Jimny. Customers eyeing the MY2024 models can also benefit from cash discounts, the specifics of which may vary by dealer.

    Maruti Suzuki Baleno

    As the market trend leans heavily towards SUVs, the Maruti Suzuki Baleno, a popular offering from the Nexa range, is witnessing a dip in sales. To counter this, Maruti Suzuki is providing discounts worth Rs 53,000 on the Baleno. This includes a cash discount of Rs 35,000, an exchange bonus of Rs 15,000, and corporate benefits totalling Rs 3,000.

     Maruti Suzuki Ciaz

    In need of a refresh, the Maruti Suzuki Ciaz sedan is nevertheless attracting customers with its discounted price tag. Buyers can avail themselves of a Rs 53,000 discount package, featuring a cash discount of Rs 25,000, an exchange bonus of Rs 25,000, and corporate benefits worth Rs 3,000.

    These attractive discounts from Maruti Suzuki present an excellent opportunity for car enthusiasts to drive home their favourite models at compelling prices. Interested buyers are encouraged to contact their nearest Maruti Suzuki dealership to explore these offers in detail and make the most of this limited-time opportunity.

  • Maruti Dzire 2024 To Get Sunroof? Spyshots Reveal Surprising Details | Auto News

    The upcoming Maruti Suzuki Dzire has recently been spotted during winter testing in Himachal Pradesh. This vehicle is anticipated to get a segment-first feature – a sunroof. Sharing its platform with the Swift, the new Dzire claims to be the most feature-rich compact sedan in its class. Read here to know what this vehicle is expected to offer:

    Maruti Suzuki Dzire 2024 Expected Features

    The interior of Maruti Suzuki Dzire 2024 is expected to mirror the new Swift, including a floating 9.0-inch touchscreen, steering-mounted controls, a digital MID, auto climate control, and keyless entry. While advanced driver assistance systems (ADAS) may not be included, a 360-degree camera could be part of the package. The cabin design is expected to resemble the Baleno or Fronx, with light-colored materials, brushed aluminum, and faux wood accents.

    Exterior and Powertrain

    Visually, the Dzire might closely resemble its hatchback counterpart, albeit with a distinct rear design and a straighter roofline. Under the hood, it is expected to share the 1.2-litre Z Series petrol engine with the Swift, offering 82hp and 108Nm of torque, with options for a mild-hybrid variant. Transmission choices are likely to include a 5-speed manual and a 5-speed AMT, with a CNG variant expected soon after launch.

    Pricing

    Anticipated to be priced between Rs 7 lakh to 10 lakh, the new Dzire will compete with models like the Hyundai Aura, Honda Amaze, and Tata Tigor in the compact sedan segment. The addition of a sunroof and other advanced features aims to make the Dzire stand out in its category.