Maruti Udyog aiming at double-digit sales growth

Maruti Udyog aiming at double-digit sales growth

The finance minister of India presented the budget yesterday and had some big news for the automobile industry of India, which has seen massive growth in the last couple of years. The market leaders Maruti Udyog have in fact said that they are aiming to achieve double-digit sales growth for the current year now that the government has done its job by releasing a consumer friendly budget.

Managing Director Jagdish Khattar said in a statement referring to the proposed cut to 16 percent from 24 per cent in the budget on Tuesday for the year to March 2007: “We should aim at double-digit growth after the cut.”

The company has already expressed its pleasure on the new budget offerings by lowering the prices of five of its models in the market by as much as Rs 25,000. Maruti is the market leader in the automobile sector and sells popular models like Maruti Alto, Maruti Suzuki Swift, and Maruti 800 in the Indian market. It is 54.2-per cent-owned by Suzuki Motor Corp, Japan’s largest mini carmaker.