Maruti Suzuki India, the country's largest carmaker, said it expects sales to grow in double digits in 2016-17, with new models likely to drive growth.
"In the next fiscal we expect our sales to grow in double digits. As for industry it could be 5-10 percent," Maruti Suzuki India Managing Director and CEO Kenichi Ayukawa told reporters here on the sidelines of JD Power awards.
When asked what will be primary growth drivers, he said: "The new models like Baleno and Vitara Brezza will play a major role. The Vitara Brezza is effectively going on sales in the next fiscal only." In the April-February this fiscal, the company has sold 12,99,903 units as against 11,808,60 units in the year-ago period, up 10.1 percent. In 2014-15, the company had sold 12,92,415 units.
When asked if the increase in prices due to the infrastructure cess has affected sales, he replied in the negative.
"There hasn't been so much of an impact but we don't know about the long term impact." Ayukawa also said there is a need to watch out for the market and economy overall as the global economy is struggling at the moment.
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