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Maruti
Demand environment remains sedate
Management continues to foresee sedate demand for the passenger car segment over
2H. Discounts remain at elevated levels while competition remains intense.
Margin outlook
The recent depreciation of the INR will raise the cost of imported components. To
offset the same, management is planning to increase localisation levels over the
medium term. The OEM currently has c. 26% direct and indirect imported content
(including royalty) - they plan to localise their indirect imports over the next few
years.
Diesel Cars
Maruti is increasing its diesel supplies by procuring engines from Fiat. However, the
management is awaiting policy clarity from the government relating to the potential
taxation on diesel cars.
New Utility Vehicle
Maruti is launching a new UV product in 2012 that will be positioned as a multi
purpose vehicle - it will compete with products such as the Toyota Innova.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Maruti
Demand environment remains sedate
Management continues to foresee sedate demand for the passenger car segment over
2H. Discounts remain at elevated levels while competition remains intense.
Margin outlook
The recent depreciation of the INR will raise the cost of imported components. To
offset the same, management is planning to increase localisation levels over the
medium term. The OEM currently has c. 26% direct and indirect imported content
(including royalty) - they plan to localise their indirect imports over the next few
years.
Diesel Cars
Maruti is increasing its diesel supplies by procuring engines from Fiat. However, the
management is awaiting policy clarity from the government relating to the potential
taxation on diesel cars.
New Utility Vehicle
Maruti is launching a new UV product in 2012 that will be positioned as a multi
purpose vehicle - it will compete with products such as the Toyota Innova.
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