Maruti may not post sales volume growth this FY: Maruti Suzuki might not post growth in sales volume within the current yr, its chairman aforementioned on weekday, because the country’s high manufacturing business suffered significant production losses because of a labour strike, whereas demand for cars remains weak in Asia’s third-largest economy.
“I’m unsure however i believe we tend to’ll be lucky if we attain with last year…Let’s see however it goes however I doubt if we’ll have any growth this year,” RC Bhargava aforementioned in associate interview for the Reuters Republic of India Investment Summit.
Bhargava had aforementioned in August he expected Maruti, 54.2 percent-owned by Japan’s Suzuki Motor business firm, to post single-digit sales growth this yr ending in March, a way cry from its twenty five % rise last year.
He aforementioned on weekday he expects the Indian industry to grow 2-3 % this yr, compared with the record thirty % growth it had clocked a year past.
“I’m not sure but I think we’ll be lucky if we break even with last year…Let’s see how it goes but I doubt if we’ll have any growth this year,” RC Bhargava said in an interview for the Reuters India Investment Summit.
Bhargava had said in August he expected Maruti, 54.2 percent-owned by Japan’s Suzuki Motor Corp, to post single-digit sales growth this fiscal year ending in March, a far cry from its 25 percent rise last year.
Slowing economic process, rising interest rates and fuel costs also as falling stock markets have dampened sentiment within the Indian automobile market.