Maruti Suzuki slashes growth forecast for FY13 to 5%

Maruti Suzuki, the country’s largest carmaker, has cut its growth forecast for FY13 from 10% to just 5%. In a separate development, the company is planning to expand its diesel capacity earlier than planned. Further, the company may expand its capacity in Gurgaon and is also mulling a new engine plant in Gujarat. The market share of diesel cars this year has risen to 58%, from 47% last year and 36% a year prior that.

The company reported a 9.84% surge in total sales for September at 93988 units as against 85565 units in the same month last year. The domestic sales of the company during the month stood at 88801 units, up by 12.7% compared to 78816 units in September last year. However, the company’s export declined by 23.1% during the month which stood at 5187 units as compared to 6749 units in September last year.