Maruti Suzuki sees double digit growth in 2012-13

Despite a marked slowdown in 2011-12 and labor unrest at its Manesar plant, Maruti Suzuki India Limited, India’s largest passenger car manufacturer, said it is targeting double digit-growth in 2012-2013, aided by new launches and an increase in the number of diesel vehicles, as well as a low base in 2011-2012. Last year, passenger car manufacturers in India were affected by high interest rates and increases in fuel prices. The Society of Indian Automobile Manufacturers (SIAM) forecasts flat growth this year, but Mayank Pareek, Maruti’s managing executive officer – marketing and sales, said that with production at the Manesar plant back to normal, its popular total vehicle sales in January was up 5.2% year-on-year to 115,433 units, with sales in the compact segment, which includes its popular hatchback Swift, and Estilo and Ritz, jumped 22.4% to 25,756 units. Sale of diesel vehicles also increased 34%, but petrol car sales went down by 6%. The company is focusing on the production of more diesel vehicles following a deal made by Suzuki with Italian car maker Fiat. Under the agreement, Fiat will supply one lakh 1.3 liter MultiJet 75hp SDE engines every year to Maruti Suzuki for three years starting January this year. (February 2, 2012)