Maruti Suzuki India (MSIL), the largest passenger vehicle manufacturer in the country has announced its financial results for the Q2 FY2024-25.

The company reported net sales of INR 355,891 million, a flat growth, as against INR 355,351 million for the same period last year. The net profit came at INR 30,692 million, down 17.4 percent YoY, as compared to INR 37,165 million last year.

This the company states was on the back of a provision of INR 8,376 million made in Q2 FY2023-24, resulting from the withdrawal of indexation benefit and change in tax rate on long term capital gains on debt mutual funds as per the Finance Act 2024.

During Q2 the company sold 541,550 vehicles, of which the domestic sales came at 463,834 vehicles and exports at 77,716 vehicles. While the domestic volume declined by 3.9 percent, the export volume grew by 12.1 percent compared to the same period of the previous year.

For H1, the sales came at 1,063,418 units, comprising 915,142 units in the domestic market and at 148,276 units in the export market. While the domestic market sales declined by 0.3 percent, the export sales volume grew by 11.9 percent YoY.

This translated to its highest net revenue of INR 694,644 million in H1FY2024-25 as compared to INR 663,803 million last year. The net profit came at INR 67,191 million, up 8.34 percent, as against INR 62,016 million last year.

Last year, Suzuki Motor Gujarat was acquired to become a 100 percent subsidiary of MSIL. The Board considered the structure after the acquisition and gave an in-principle approval for the amalgamation of SMG with MSIL. The appointed date for the amalgamation is 1 April, 2025, subject to all legal and regulatory compliances.  

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Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Kerala Grameena Bank to establish a vehicle financing partnership.

The agreement is designed to provide retail finance for new cars, pre-owned vehicles and commercial models. This collaboration aims to offer credit options to a wider customer base across Kerala, specifically targeting rural and semi-urban demographics.

The partnership integrates Maruti Suzuki’s dealership network with the bank's regional presence to provide finance solutions across the manufacturer's entire model range. The agreement seeks to assist first-time buyers and entrepreneurs by offering loan products for personal and commercial mobility.

Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India, said, “Our tie-up with Kerala Grameena Bank is an alliance which underscores our dedication to making car ownership simpler and more affordable for Indian customers. The Kerala market has a strong affection towards Maruti Suzuki vehicles and this strategic partnership will provide our customers with competitive, customer friendly financing options that improve the overall car buying experience. We stay committed to always delivering a wider range of customised finance solutions with a seamless customer journey.”

Vimala Vijaybhaskar, Chairperson, Kerala Grameena Bank, said, “We are pleased to partner with Maruti Suzuki India Limited to expand our retail car financing network across Kerala. By combining Maruti Suzuki’s strong dealership network with Kerala Grameena Bank’s deep grassroots presence, we will offer convenient, affordable, and digitally enabled car loan solutions to customers, especially in rural and semi-urban areas. This collaboration will help us reach first-time car buyers and small entrepreneurs, improve access to personal mobility, and support economic activity across the state, while reaffirming our commitment to inclusive and customer-centric banking.”

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Hyundai Motor India (HMIL), one of the leading passenger vehicle manufacturers, has launched its dedicated commercial mobility range – the Prime HB (hatchback) and Prime SD (sedan).

These models, the company said, are designed for fleet operators and taxi entrepreneurs, focusing on maintenance costs and fuel efficiency. Bookings have opened at Hyundai dealerships across India for a fee of INR 5,000.

The Prime range is powered by a 1.2L Kappa 4-cylinder engine available in petrol and CNG variants. The Prime SD delivers a claimed fuel efficiency of 28.40 km/kg, while the Prime HB achieves 27.32 km/kg. To comply with commercial regulations, the vehicles include a factory-fitted speed limiting function set to 80 kmph. Safety features provided as standard include six airbags, three-point seatbelts and rear parking sensors.

Interior specifications for the range include rear AC vents, steering wheel mounted audio controls and power windows. Hyundai Motor India is also offering an optional 9-inch infotainment system with a rear camera and a vehicle location tracking device equipped with four panic buttons. The Prime HB is priced from INR 599,900 and the Prime SD starts at INR 689,900.

Tarun Garg, Managing Director & CEO designate, Hyundai Motor India, said, “With the introduction of Prime HB and Prime SD, HMIL is proud to enter the commercial mobility space with products that are engineered for trust, reliability and good earning potential. Fleet operators and taxi drivers look for vehicles that deliver maximum uptime, predictable maintenance and low operating costs, and the Hyundai Prime range has been developed precisely with these priorities in mind. Backed by Hyundai’s extensive service network, attractive warranty, maintenance packages, low cost of ownership and flexible finance solutions, Prime HB and Prime SD will enable our commercial customers to enhance earnings while offering safe and comfortable mobility to passengers. This marks an important step in extending Hyundai’s promise of hassle-free ownership to the commercial segment as well.”

To support commercial ownership, Hyundai has introduced an extended warranty covering the fourth and fifth years or 180,000 km. The company estimates maintenance costs at INR 0.47 per kilometre. Finance options are available with repayment tenures extending up to 72 months to assist fleet expansion and first-time buyers.

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JSW MG Motor India, one of the leading passenger vehicle manufacturers, has launched an initiative extending its assured buy-back programme for electric vehicles (EVs) from three years to up to five years. This makes JSW MG Motor India to becomethe first OEM in the country to offer a guaranteed resale value for this duration in the mass EV segment.

The programme operates independently of any finance or loan schemes, allowing owners to choose a tenure of three, four, or five years. Under the existing three-year plan, the company guarantees a 60 percent buy-back value. For the first time in India, commercial MG ZS EV owners are also eligible for resale benefits on vehicles up to three years old or with an annual mileage of up to 60,000 km.

The MG Value Promise Program is facilitated by Lockton India Insurance Broking and Advisory in partnership with Zuno General Insurance. The initiative is designed to reduce depreciation risk and provide financial predictability for customers. At the end of the selected term, owners have the option to retain, return, or exchange their vehicle for a newer model.

Anurag Mehrotra, Managing Director, JSW MG Motor India, said, “As a customer-centric brand, MG has always introduced initiatives like B-a-a-S (Battery-as-a-service), lifetime warranty on EV batteries that make EV ownership a delightful mobility experience. Resale value has been a key consideration for many customers who are considering buying an EV. With our industry-first MG Value Promise Program (Assured Buyback), facilitated by Lockton India Insurance Broking and Advisory Ltd in partnership with Zuno General Insurance, we want to give MG EV owners complete peace of mind as we now offer a Assured resale value where a customer has option to choose the tenure from 3 to 5 years. We believe this initiative will play a key role in expanding India’s EV market by eliminating a major concern for buyers and building stronger trust in electric mobility.”

Shanai Ghosh, MD & CEO, Zuno General Insurance, said, “As a digital insurer, this partnership strengthens our vision of building a strong, future-ready EV insurance portfolio. Electric mobility is reshaping how India moves, and we’re excited to support that shift with solutions that stay true to Zuno’s promise of easy, friendly, and transparent. Our collaboration with JSW MG Motor India reinforces our commitment to making EV ownership simpler and more secure for customers.”

Dr Sandeep Dadia, CEO & Country Head, Lockton India, said, “As EV adoption accelerates, customers increasingly seek clarity and confidence around long-term ownership. MG EVs are known for its true-to-range offerings with highest resale value and through our participation in MG’s extended Assured Buy Back Program, we’ve focused on shaping a solution that provides predictable value in a simple and transparent way. Initiatives like this empower customers to plan their EV journey with greater certainty and strengthen overall trust in India’s rapidly evolving electric mobility ecosystem."

The expansion of buy-back solutions aims to address consumer concerns regarding the residual value of battery-powered vehicles. By providing a fixed exit price, the company intends to lower adoption barriers and support the transition to electric mobility as infrastructure and technology continue to evolve.

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Auto Hangar, a Mercedes-Benz India retail partner, has expanded its network in Mumbai with the opening of a showroom in Kandivali and a service centre in Charkop. The expansion targets the western corridor of the city, including Borivali, Malad and Andheri.

The Kandivali showroom follows the Mercedes-Benz ‘MAR 2020’ global retail design framework. The facility integrates digital tools with physical displays to facilitate vehicle customisation.

Key features of the showroom include:

• Digital Car Configurator: Allows customers to select paint finishes, alloy designs, and interior trims virtually.
• Model Range: On-site display of vehicles including the GLC, A-Class Limousine, and the Mercedes-Maybach S-Class.
• Finance Integration: Access to STAR Agility+ programmes for vehicle financing.

The Charkop facility provides maintenance and repair services using Mercedes-Benz diagnostic systems. The centre is designed to meet the manufacturer's ‘Ambition 2039’ sustainability targets.

The service centre includes:

• Quick-Service Bays: Staffed by certified technicians for routine maintenance and electronic calibrations.
• Logistics: Pick-up and drop-off services for residents in the surrounding suburbs.
• Environmental Systems: Integration of solar-powered systems, waste segregation, and water recycling technologies.

“This expansion is about more than new locations, it’s about redefining the Mercedes-Benz experience for Mumbai’s west. With state-of-the-art infrastructure, sustainable practices and a customer-first approach, we are ready to serve a new generation of luxury car buyers,” said the company in a statement.

The company maintains an existing network across Mumbai, with locations in Hughes Road, Prabhadevi, Lokhandwala Circle, Lower Parel and Sakivihar.

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