Maruti Suzuki doesn't expect small car sales to recover until 2026
Price hikes in small cars due to regulations are quite steep whereas salary hikes have not happened to that extent, says Maruti Suzuki senior executive Partho Banerjee
Price hikes in small cars due to regulations are quite steep whereas salary hikes have not happened to that extent, says Maruti Suzuki senior executive Partho Banerjee
Despite headwinds, auto component exports — which contribute around 30% to the total turnover of India's auto ancillary industry — have remained steady.
The maker of Kodiaq and Kushaq also plans to hit an annual sales target of 1,00,000 cars in India by 2026.
Non-clarity on definition and complex tax slabs mean it's up to companies to decide how to classify their vehicles in what has become a 'free for all' market.
The capex will be also utilised in scaling up the company's production capacity from 2 million units at present to 4 million units in the next 7 years.
The auto market showed consistent demand for luxury cars and SUVs, signifying a robust consumer appetite for premium segments, says FADA.
The domestic automobile retail sales stood at 3,43,000 units during the month under review, up 7.3% vis-a-vis 3,19,800 units in the same period last year.
The total sales of light passenger vehicles are expected to grow to 6.1 million units in 2030 from 4.4 million in 2020
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