Innova Financial News

NEW DELHI : The Goods and Services Tax (GST) Council on Tuesday exempted integrated GST on select drugs when imported for personal use, redefined sport utility vehicles (SUVs) to prevent carmakers from side-stepping the highest tax bracket and levied a 28% uniform GST on online gaming, horse racing, and casinos on the full value of the bets. Finance minister Nirmala Sitharaman, who chairs the GST Council, said at a briefing that tax rates were cut on four items—uncooked snack pellets, fish soluble paste, certain yarn, and LD slag—a by-product of steel production that is used in certain industries.

Maruti is now a leading player in the auto industry’s Rs 10-20 lakh segment with a market share of 23 per cent for Q1 of FY 2024. The company was able to overtake its market rivals such as Hyundai, Tata Motors and Mahindra & Mahindra (M&M) by launching its premium models.Maruti Suzuki’s premium models such as 4x4 Jimny off-roader and Invicto MPV which is considered to be a twin of Toyota Innova priced upwards at Rs 25 lakh, have been pushing sales in the premium segments as it vies for better product margins, improved profitability, and high-income customers. «With a share of 23 per cent in the Rs 10-20 lakh category at the end of the first quarter (Q1) of FY24, Maruti leads the segment as we sell the maximum with models such as the Grand Vitara and Brezza SUVs, XL6 MPV, and the just-launched Jimny,» said TOI quoting Shashank Srivastava, director (sales & marketing) at Maruti Suzuki. The automaker's sales of Rs 10 lakh-plus vehicles increased dramatically in the past four to five years.

Toyota Kirloskar Motor emphasized that adjusting the prices was essential to partially counterbalance the surge in raw material expenses. Toyota Kirloskar Motor offers a diverse range of vehicles, including the Glanza, UC Hyryder, Innova Hycross, Fortuner, Legender, Vellfire, and Land Cruiser LC300.

Toyota Kirloskar Motor emphasized that adjusting the prices was essential to partially counterbalance the surge in raw material expenses. Toyota Kirloskar Motor offers a diverse range of vehicles, including the Glanza, UC Hyryder, Innova Hycross, Fortuner, Legender, Vellfire, and Land Cruiser LC300.

Kirloskar Motor (TKM) on Thursday said it has hiked the prices of its models by around 1 per cent in order to offset the impact of an increase in input cost. The company, which sells models like Innova Crysta and Fortuner, has realigned the prices of its models with effect from July 5, 2023, TKM said in a statement.

Maruti and you think of a small, workhorse car that endures and needs little maintenance. Maruti Suzuki India Ltd became India's biggest car maker riding high on that image. But what remained a boon for decades started to look like a curse later.

NEW DELHI : Maruti Suzuki, India’s leading automaker, is diversifying its premium lineup with the launch of the Invicto, a seven-seater hybrid multi-purpose vehicle based on the Toyota Innova HyCross. Priced at ₹24.79 lakh ex-showroom, it is Maruti Suzuki’s most expensive offering in the market to date. The Invicto will be manufactured at Toyota Kirloskar Motor’s facility in Bidadi, Karnataka, where it also produces all variants of the Innova MPV.

Maruti Suzuki crossed the ₹10,000 mark, marking a new record of ₹10,003. The stock snapped a two-day losing streak in the process. The auto major stock's ended 3.61 per cent higher at ₹9994.50.

Maruti Suzuki, India's leading car manufacturer, introduced the Invicto MPV as their latest flagship model. With an introductory ex-showroom price ranging from ₹24.79 lakh to ₹28.42 lakh, the Invicto becomes the most costly vehicle in Maruti's lineup. Essentially, the Invicto is a rebranded version of the Toyota Innova Hycross.

As per industry estimates as many as 327,700 units were sold last month, which is an increase of 1.9% over 326,600 units sold in the same period last fiscal. With this, sales of passenger vehicles in the first half of the year rose to over 2 million units for the first time in the country. Automakers in India mostly report wholesale dispatches from factories to dealerships and not retail sales to customers.