New Delhi: India’s top car maker Maruti Suzuki has seen double-digit percentage growth in its August sales and has not felt any impact yet from a drought in much of the country, its sales chief said on Thursday.
Maruti, 54.2% owned by Japan’s Suzuki Motor Corp, earns about 15% of its revenues from the rural market, a segment it plans to expand in, but a deficient monsoon this year could hit rural income and spending.
“So far, we have not seen any impact because this crop comes in November,” said Mayank Pareek, executive officer of marketing and sales.
“My guess is the effect will be there, but will be very marginal effect. If at all it is there, the first hint we will get in November,” he said, adding Maruti was not reconsidering its plans to expand in rural areas.
The country’s monsoon rains were 5% below normal in the week to 26 August and are 25% below normal so far this year, the Meteorological Department said.