On track to meet double-digit growth target for the year: Maruti

Speaking to CNBC-TV18 on the sidelines of the Vibrant Gujarat Summit 2017, Maruti Suzuki Chairman RC Bhargava said the first unit in Gujarat will start production and sale of cars by next month.

The company will rely on the Gujarat plant’s production for future growth, he said, adding, the plant can manufacture up to 1.5 million cars.

The country's largest car maker Maruti Suzuki India posted a drop of 4.4 percent in December domestic sales to 1,06,414 units from 1,11,333 units in December 2015.

Bhargava said the numbers showed a downtick because it was a comparison of wholesale numbers and not retail sales. The retail dealers sold 1.83 lakh cars to customers. Demonetisation per se has not impacted sales and the company is on track to achieve double-digit growth target for the year, he said.Watch video for more...