Latest Car News in India

Maruti all set to achieve more than 5 percent growth this year

Maruti seems to have revised its growth chart recently after the Maruti Alto 800 launch. Recently, the car maker has forecasted that it will be able to grow by only 5 or so percent this year due to many prevalent reasons as well as the Manesar outage. However, the tremendous response and over 12K bookings of the Alto 800 has inspired the car maker to reassess its growth prospects this year. Other cars such as Maruti Ertiga will also be helping the car maker a lot in achieving what it has set in focus. It is all the car craze and passion for cars this festive season that is inspiring not only Maruti but other car makers as well to be bullish this year. In Jaipur city alone over 600 cars were delivered in a single day on Wednesday. If this is the scene in Jaipur then one can imagine what will be the India scenario.

The year 2012 has been an almost flat year for car makers and over 95 percent of the car makers were thinking of measures to put to some numbers on the sales chart while some car makers such as Peugeot have almost shunned their plans for India. Maruti India being the largest car maker is facing a dual attack. Where on the one hand, it is dealing with the market crisis; it has to deal with the rising competition in the market. Where Maruti Ertiga had become a clean sweeper in the segment, there was Mahindra Quanto that has challenged it. Meanwhile Nissan Evalia also came in to liquidate the sales.

All these factors besides the high interest rates and the prevalent low demand for car sales forced Maruti to not to put up a highly prospective growth rate and it forecasted to have over 5 percent growth only. Meanwhile, the market has taken a firm stand and car buying has returned with a bang leading the car maker to think of a 10 percent growth this festive season over the same period last year and this will take the overall growth to over 5 percent this year.