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Maruti’s Sale declined by 36% in July, highest in two Decades

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Mumbai: Maruti Suzuki’s net profit for the quarter ended June 30 witnessed the steepest decline in the last five years. The continue slowdown in the economy tightened the credit norms of the financial institutions.

Domestic wholesales of country’s largest passenger vehicle decline by 36.3% year on year July to 98,210 units. This is the sharpest decline in wholesales that the company has witnessed in the last two decades. In the corresponding month last year, the company sold 154,150 units.

Domestic vehicle manufacturers are expected to report sharp decline in sales in July due to the overall slowdown and because of the high base effect of the first half of last fiscal.

For Maruti, sales in the compact segment, which includes best sellers like the Swift, Baleno, Dzire, and Wagon R, declined nearly 23%, while utility vehicle sales fell a shade above 38%. The decline in utility vehicle sales can also be attributed to the company’s announcement to withdraw its diesel offerings from April, 2020.

The company’s domestic vehicle sales fell more than 19% to 374,481 units in the June quarter, the sharpest drop since the third quarter of 2000-01. This has taken a toll on its financials as well as stock performance. The sharpest decline in last five years resulted in operating margin of 455 basis points due to increased expenses and sharp fall in volumes. Net profit fell 27.3% year-on-year to 1,435.5 crore, while the company’s net sales during the period fell 14.1% to Rs18,735.2 crore.

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Hyundai Santro anniversary edition launched

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Hyundai India had launched the new generation Santro around the time of 2018 festive season. To mark 1 year of sale in India, the company has introduced a special Anniversary Edition. It gets a total of 9 changes – 7 on the outside and two on the inside with prices starting at Rs 5.16 lakhs. The model is available in two variants including Sportz manual and Sportz AMT.

Exterior highlights of the Hyundai Santro special edition, also known as the Santro Anniversary Edition, include blacked-out ORVMs and door handles, Glossy Black roof rails, Gunmetal Grey wheel covers, rear chrome garnish, body side moulding and the Anniversary Edition emblem on the boot lid. Inside, the Hyundai Santro Anniversary Edition will come equipped with all-black interiors with Blue inserts and a new fabric seat design.

The variant will be available in two colours options including Polar White and Aqua Teal, the latter being a new paintjob. The rest of the features will remain the same as offered in the Sportz trim of the Santro.

The Hyundai Santro Anniversary Edition continues to be powered by the same 1.1 liter, 4 cylinder petrol engine offering 68 bhp power and 99 Nm torque mated to a 5 speed manual gearbox or AMT.

Where sales of the Hyundai Santro are concerned, sales have dipped over the past few months. Sales in January 2019 stood at 8,000 units dipping gradually over the past months to 3,502 units in September 2019.

Based on the premium Sportz variant, the Hyundai Santro Anniversary Edition offers all the comfort and safety features available on the hatchback carline. The list includes a 7.0-inch touchscreen infotainment system with Apple CarPlay and Android Auto connectivity, MirrorLink, voice recognition, front and rear speakers, keyless entry, power adjustable wing mirrors, rear defogger, front fog lamps, wing mirrors with integrated turn indicator and full wheel caps for 14-inch wheel fitted with 165/70 R14 tyres.

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