Maruti Suzuki India, the largest car manufacturer in India is expecting a growth of 5.5 to 6 percent in its sales for the fiscal 2012-13. The carmaker has ruled out any price hike for the time being amid the apprehensions about various government policies as part of the Budget 2013-14 to be announced in February 2013.
According to Mr. R C Bhargava Chairman Maruti Suzuki, the cost of owning a car is increasing majorly on account of the hike in fuel prices. Commenting about the growth prospects for the fiscal 2013-14, he stated that the industry is still in troubled waters.
Mr. Bhargava added that the reduction of interest rates on car loans since October 2012 has not been able to garner higher sales in the Indian auto industry. He is of the opinion that the government should come up with better prospects to encourage investment as part of the new Budget 2013-14.