New Delhi42 minutes ago
- Copy link
Maruti Suzuki India, India’s largest car maker, has now become the world’s 8th most valuable automobile company with a market value of $ 57.6 billion, or Rs 5.10 lakh crore. This information has been given in the Economic Times report.
Maruti Suzuki has achieved this position by overtaking veteran companies like Ford Motor, General Motors and Volkswagen. Not only this, Maruti India has also defeated its Japanese parent company Suzuki Motor (₹ 2.57 lakh crore) in the market value. Ilon Musk’s company Tesla is at the top with a market value of Rs 1.47 trillion $ 130.38 lakh crore in the automobile industry worldwide.
Maruti India becomes the world’s 8th most valuable auto company
| Company | Market Value (₹ Lakh Crore) |
| Tesla | 130.38 |
| Toyota | 27.84 |
| BYD | 11.79 |
| Ferrari | 8.22 |
| BMW | 5.43 |
| Mercedes-Benz | 5.30 |
| Honda | 5.23 |
| Maruti Suzuki India | 5.10 |
Maruti gets speed due to GST reforms
Maruti Suzuki holds more than 60% share in the sale of small cars in India. At the same time, the company has benefited from the recently implemented GST reforms. The new GST rules, which came into force on 22 September, reduced tax on small cars, causing Maruti vehicles and economical. The effect of this was that the company cut the prices of many of its vehicles by up to Rs 1.30 lakh.
Partho Banerjee, Senior Executive Officer (Marketing and Sales), Maruti, said, ‘Alto K10 has been reduced by 10.6-20%, S-Presso 12.6-24%, Celerio 8.6-17% and Wagon R 8.7-14%. It is a double bonanza for customers in the festive season. ‘
The company is getting 15,000 bookings every day
Since the new GST rules, there is a tremendous jump in Maruti’s sales. The company is getting 15,000 bookings every day. Especially on the first day of Navratri, on 22 September, Maruti delivered 30,000 vehicles, which reflects the demand for small cars.
Maruti shares climbed 25% after GST reforms
Prime Minister Narendra Modi announced the GST reforms of the next generation on 15 August, after which Maruti’s shares have rose by 25%. On August 14, where Maruti’s stock was at Rs 12,936, it reached Rs 16,236 on 25 September. During this period, the Nifty Auto Index increased by about 11%, but Maruti performed much better.
What is the secret of Maruti’s success?
The major reason for Maruti Suzuki’s success is its focus on small cars and a strong market hold in India. The new GST rules have made small cars more economical, increasing the number of customers.
Also, the increased demand in the festive season and the company’s strategy brought its shares to further highs. This achievement of Maruti has not only raised the value of the Indian automobile industry. Rather, it has also shown that with the right policy and strategy, Indian companies can also collect their glory at the global level.
Read this news too …
Top-3 companies sold 51 thousand cars in a day: GST was equal to 4 years before decrease, Maruti’s 30-year-old record was broken
The country’s top 3 automobile companies Maruti, Hyundai and Tata Motors sold more than 51 thousand cars on the first day of Navratri. Due to the new GST’s new rates from September 22, the car prices have reached equal to 4 years ago. Apart from this, companies are also offering more than 10% festive discounts. Companies have recorded record sales after cars become cheap. Read full news …
Source link
[ad_3]
