Lower affordability hits demand for cars: Maruti Suzuki

Quick Summary:

Maruti Suzuki, India's largest carmaker, faces reduced demand due to higher vehicle prices, especially in sub-Rs 10 lakh segment.

Despite festive season uptick, the company sees overall industry growth at just 3-4% this year, with profits impacted by higher costs and changes in long-term capital gains taxation.

Bhargava said slowdown in first two quarters will mean that car industry will finish this year with a growth of 3-4% for full year.

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Article Details

Author / Journalist: Pankaj Doval

Category: EconomyBusiness

Markets: IndiaMali

Topics: Maruti Suzuki Car sales Car demand Business news High prices Affordability

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 09:25:10 (2 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 548 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23335270

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