Maruti Suzuki Reports 24 Percent Drop in its Sales

author image Satish
Tuesday 02 December 2008, 00:00 AM

India’s largest car manufacturer, Maruti Suzuki India Limited, is sailing through choppy waters past few weeks. It has recently launched its latest model, A-Star, in India. However, it has not revived its sales figures nor has it helped them significantly. The company has reported a drop of nearly 24 percent in its sales figures just 15 days within the launch of the new model. Suzuki Motors corp. is the parent company of MSIL. It has suffered huge losses at the stock market in the US. It holds 54 percent stake in the Indian joint venture. The company has seen significant decline in the Wagon-R and Alto sales figures. The company consists of Alto, Wagon R, Zen, Swif and A-Star in the A2 segment in India. The company sales have dipped more than 26 percent in this segment alone.

The auto industry is one of the badly hit industries across the globe due to the credit crisis. The auto analysts had been expecting this decline in the sales figures due to tight monetary conditions and the slowdown in the consumer demand.

Adding to the woes are the recent Mumbai terrorist attacks which are expected to dampen the consumer sentiments. Mumbai is India’s second largest passenger car market and the sales are likely to dip further.

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