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Maruti Expects Car Sales To Grow 5-6 Per Cent This Year
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Maruti Suzuki Ltd, India's top selling car maker, expects car sales to grow at a faster pace than the forecast of 5-6 per cent growth for the industry in the fiscal year that started on April 1, a company executive said.
Maruti Suzuki, which sells about one in every two cars in India, reported its best-ever annual sales in the year to end-March but is yet to see a strong recovery in the passenger car market, executive director R.S. Kalsi said on Wednesday.
Sales growth in the 2014/2015 fiscal year was mainly helped by new product launches, an expansion of its dealer network and discounts, Kalsi said.
Maruti Suzuki sold 1.29 million passenger vehicles in the fiscal year ended March 31 - a 12 per cent increase from a year ago and higher than its previous peak of 1.27 million in the year 2010/2011.
The company reported a 1.6 per cent decline in its total sales for the month of March at 111,555 units as against 113,350 units in the same month a year ago.
The company said its domestic sales increased by 1.4 per cent during the month to 103,719 units compared with 102,269 units in March 2014.
Sales of mini segment cars, including, Alto and WagonR, rose marginally to 40,159 units as compared to 40,085 units in the year-ago month, Maruti Suzuki said in a statement.
The company said sales of the compact segment comprising Swift, Estilo, Ritz, Dzire declined by 12.5 per cent to 38,710 units in March this year as against 44,251 units last year.
It said sales of its compact sedan Dzire Tour rose over two-fold during the month under review at 2,613 units as against 1,271 units in March 2014.
The sales of company's mid-sized sedan Ciaz, which was launched in October 2014, stood at 4,251 units. The company had sold 411 units of SX4 sedan in March 2014. There was no sale of premium sedan Kizashi during the month.
Sales of utility vehicles, including Gypsy, Grand Vitara and Ertiga, declined by 4.3 per cent at 6,218 units in March this year from 6,499 units in the corresponding month last year.
Sales of vans - Omni and Eeco - rose by 20.7 per cent to 11,768 units in March this year as compared to 9,752 units in the same period of previous year. Exports during the month declined by 20.3 per cent to 7,836 units as compared to 11,081 units in March last year, MSI said.
For the 2014-15 fiscal, the company said it posted highest ever sales ever at 1,292,415 units, up 11.9 per cent, from 1,155,041 units in 2013-14. The previous high was in 2010-11, when the company had sold 1,271,005 units.
The company's domestic sales during the 2014-15 fiscal stood at 1,170,702 units, up 11.1 per cent, from 1,053,689 units in 2013-14 fiscal.