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Maruti sees 18-20 pct sales growth in FY10

24 Dec 2009 Evaluate

India's top carmaker Maruti Suzuki expects its sales for the fiscal year to March 2010 to rise by about a fifth. After a downturn in 2008, car sales in India have picked up since January and the sector has seen double-digit growth for the past five months buoyed by stimulus measures and festival demand.

 

Maruti's car sales have risen 27 percent during the eight months to November and are expected to be good in December as well. However the growth numbers for the fourth quarter may not look so great as the higher base effect will start kicking in from January.

 

For the fiscal year, sales is likely to grow by 18-20 percent. In comparison, Maruti's sales for the year to March 2009 rose only 1.5 percent to 722,144 units. Maruti will also launch the EECO van on Jan. 7, which will be available in five- and seven-seater versions, with an expected initial sales of 40,000 units a year. Though its pricing has yet to be finalised, it will be priced below the Versa van which sells starting from 350,000 rupees ($7,500) for a base model.

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