Maruti Suzuki India is intensifying efforts to boost sales of its entry-level cars, aiming to achieve record volumes for the Alto and S-Presso in the ongoing fiscal 2026. The company is relying on aggressive price reductions, festive finance schemes, and a focused push to attract two-wheeler riders into the four-wheeler segment.According to sources familiar with the matter told ET, Maruti has set a target to sell between 220,000 and 250,000 mini cars this fiscal year. The previous record for the segment was around 247,000 units in FY20.The renewed focus on small cars is part of Maruti’s broader strategy to arrest declining market share, which has been under pressure due to a slump in small-car sales alongside rising SUV demand. In FY25, the overall passenger vehicle market grew only 2% in cumulative wholesale dispatches, while Maruti’s market share fell to 40.9%, the lowest since FY13 when it stood at 39%. The company had commanded over 51% market share in FY19 and FY20.Maruti’s optimism is reinforced by a GST rate cut on small cars, which has effectively lowered prices by 11-13%. The company has also introduced a festive Rs 1,999 EMI scheme for entry-level models, launched during Navratri and extending through Diwali, to appeal to two-wheeler owners.

Dealers reported a surge in showroom footfalls and enquiries, particularly from rural and small-town buyers, though actual conversions remain limited. “The offer is very attractive and has brought new buyers into showrooms. We expect a major pickup during Dhanteras and Diwali,” said a Maruti dealer in western India.Partho Banerjee, Senior Executive Officer (Sales and Marketing) at Maruti Suzuki, said the entry-level segment is showing early signs of revival. “The response to the Rs 1,999 EMI offer has been very positive. Many two-wheeler customers who earlier did not consider buying a car are now visiting our showrooms. We are literally seeing helmets on discussion tables – that’s a very good indicator,” he told ET.Banerjee added that overall festive-period booking momentum has been strong. “Just to give you a perspective, the Alto bookings in October (till date) were up around 60% compared to the same month last year.” He noted that bookings for cars in the 18% GST bracket, including small cars, have risen sharply, though it is still early to quantify their full impact on overall sales.Industry observers, however, expressed caution over Maruti’s ambitious targets. “It’s a very tall target. Over the last five years, the car buyer has become a lot more aspirational. Even a first-time buyer is not keen on an entry-level model and prefers a second-hand premium hatchback like a Baleno,” said an industry executive, requesting anonymity.Analysts believe that while the push on affordability may come at the cost of average selling price and near-term margins – potentially around 100 basis points – it could expand market share and improve operating leverage if consumer response remains positive. Kapil Singh of Nomura Research noted that the initiative may strengthen Maruti’s base.According to Puneet Gupta, Director, S&P Global Mobility, the GST reduction could reignite demand in the mini-car segment. “Expect a wave of innovation in financing, product offerings, and ownership schemes aimed at reviving this category,” he said. With only 36 cars per 1,000 people, India’s vehicle ownership remains among the lowest globally, and this push could serve as a catalyst for two-wheeler users to transition to four-wheelers.Maruti has reduced prices across its lineup by 2-21%, with the steepest cuts on the Alto, S-Presso, and Celerio (13-22%). Larger models, including the Brezza, Grand Vitara, and Invicto, have seen reductions of 2-8%.Banerjee emphasised that Maruti is committed to maintaining a balanced presence across all segments. “As a market leader, we must have a play across all segments – hatchbacks, SUVs, MPVs, CNG, hybrids, and EVs. That’s what leadership means,” he said.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has departed for the United States to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank.

According to a statement issued by the Ministry of Finance in Islamabad on Saturday, the minister will represent Pakistan at the plenary sessions of both institutions.

During his six-day visit, Senator Aurangzeb is scheduled to hold meetings with senior officials of the IMF, World Bank, International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).

He will also hold a one-on-one meeting with World Bank President Ajay Banga and attend a dinner hosted by him for finance ministers of selected countries.

Additionally, the minister will meet IMF Managing Director Kristalina Georgieva during sessions of the G24 and MENAP (Middle East, North Africa, and Pakistan) groups, where he is expected to deliver a keynote address.

Aurangzeb will also participate in a World Bank regional roundtable on the digital transformation of the Federal Board of Revenue (FBR), alongside tax authorities from other nations.

Moreover, he will attend two major events hosted by the World Economic Forum (WEF) and hold bilateral meetings with finance ministers from China, the United Kingdom, Saudi Arabia, Türkiye, and Azerbaijan.

The finance minister’s schedule also includes meetings with senior White House officials, the Chairman of the U.S. Congress Financial Services Committee, and representatives from the U.S. State and Treasury Departments and the International Development Finance Corporation (DFC).

He will engage with office bearers and members of the U.S.-Pakistan Business Council to discuss tax proposals and investment opportunities in Pakistan.

The minister will also meet with representatives of global credit rating agencies, commercial banks particularly investment banks from the Middle East and address various investment forums and seminars to highlight Pakistan’s economic outlook.

Aurangzeb will visit leading U.S. think tanks, including the Atlantic Council and the Peterson Institute for International Economics (PIIE), and meet prominent members of the Pakistani community.

He will also give interviews to selected international and American media outlets during his visit, which includes over 65 events, forums, meetings, and official engagements.

India should be careful in its negotiations with the US and should focus on its self-reliance rather than depending on Washington, Global Trade Research Institute (GTRI) said in a report. In a report titled “Trump’s tariff offensive hits a rare earth wall,” the think tank analysed the impact of Trump’s recently imposed tariffs on China and how India should proceed.

The US President Donald Trump on Friday announced an additional 100% tariff on Chinese imports, raising total US duties to around 130%, which will be in effect from November 1. The action is one of the most major escalations in US-China trade tensions since the 2018 tariff war. Washington’s move responds to China’s stringent restrictions on rare-earth exports, which are vital for the US defence, clean-energy, and technology sectors.‘The message is clear’: Lessons for IndiaThe report said that India should advance its negotiations with the US cautiously and on “equal terms,” warning that “no deal with the US is ever final.”It suggested ensuring reciprocity and safeguarding strategic autonomy. The GTRI report also said that instead of depending on “shifting US promises,” New Delhi should prioritise self-reliance in critical technologies and minerals, shielding its economy from future trade shocks. The country should also use its neutral stance to strengthen ties with both Western and BRICS nations.ImpactPrices of electric vehicles, wind turbines and semiconductor parts are expected to rise as China and the US get embroiled in a new series of trade tensions.The report further noted that if Washington seeks support from its allies, costs could rise further, as they can’t quickly match China’s dominance in rare-earth minerals.Analysing the impact, think tank GTRI said, “The impact will be felt quickly. Prices of EVs, wind turbines, and semiconductor parts are expected to rise, while the US will try to “friend-shore” its mineral supply chains to Australia, Vietnam, and Canada. China, meanwhile, is likely to redirect supplies toward its non-Western partners to strengthen alternative industrial networks.”Washington may feel the heat tooWashington is still heavily reliant on Beijing for its electronic, textile, footwear, white goods and solar panels, some areas where China could strike back.Once the new tariffs take effect, prices might surge making it difficult for the Trump administration to handle the inflation and production costs. Hence, the US President’s “tough-on-China” approach could backfire, potentially raising costs for American consumers and weakening his wider economic agenda.‘China appears better prepared’Given the importance of rare earths to US industries, Washington may soon have little choice but to negotiate a new deal with Beijing. “Unlike the US, which often acts before weighing economic consequences, China appears more deliberate and better prepared,” the GTRI said.