New Delhi: India’s top car maker, Maruti Udyog Ltd, will find it hard to match its record domestic sales of 2006/07, but expects to see higher exports, a company official said on Thursday.
Maruti, which has nearly half of India’s market for mostly small cars, is also launching more premium vehicles in a bid to shift consumers to higher-margin vehicles. Butcompetition is growing and higher interest rates have forced consumers to postpone purchases.
“It will be difficult to match 2006-07 sales if interest rates remain the same,” managing director Jagdish Khattar said on the sidelines of the launch of a new model of Grand Vitara SUV, which it will import as completely built units. “Maruti did not do so well in the first quarter of last year also,” he said. “We are trying to do all sorts of things to see growth. And that will continue till the situation stabilizes,” he said.