New Delhi: The country’s biggest car maker Maruti Suzuki India Ltd, expects a lower rate of growth in production than previously targeted as a slowing economy results in buyers putting off car purchases, a senior company executive said.
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Car sales have declined for three of the last four months. They fell 6.6% in October, according to the Society of Indian Automotive Manufacturers.
Maruti will now produce 4.5% more cars than last year compared with the 10% it initially planned, Mayank Pareek, executive officer in-charge of marketing, Maruti Suzuki, told reporters on the sidelines of the launch of the A-Star, the company’s new offering in the A2 segment. It was not clear if Pareek was referring to the fiscal or calendar year but the firm produced 757,092 cars last fiscal year.
“We have made some re-adjustments in production,” Pareek said. The company has slowed production at its Gurgaon plant while ramping up production at its Manesar where best-selling models such as the Swift, Swift Dzire and A-Star are produced. Meanwhile, the company, in a statement, on Wednesday said that it plans to export 200,000 vehicles in fiscal year 2011.