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Maruti Dec vehicle sales up 23 % y-o-y
New Delhi, Jan 02: Sales for Maruti Udyog, jumped 23.2 per cent in December from a year ago, the company said on Friday, spurred by a tax cut 10 months ago and robust domestic economic growth.
New Delhi, Jan 02: Sales for Maruti Udyog, jumped 23.2 per cent in December from a year ago, the company said on Friday, spurred by a tax cut 10 months ago and robust domestic economic growth.
Maruti, 54.2 per cent owned by Japan's Suzuki Motor, said domestic sales rose 22.3 per cent in December to 33,343 vehicles and exports 31.7 per cent to 3,748 for a total of 37,091 vehicles from 30,107 in December last year.
Sales in April-December, the first nine months of fiscal 2003/04, rose 30.3 per cent to 328,019 vehicles from 251,797 a year earlier.
Indian car sales have powered ahead since March after February's federal budget cut production tax on cars and utility vehicles to 24 per cent from 32, allowing all automakers to cut sticker prices by more than five per cent.
A booming economy -- expected to grow more than seven per cent this fiscal year -- and interest rates near three-decade lows lows have also boosted sales.
The automaker, which completed a blockbuster IPO in June, has a 50.6 per cent share of the domestic car market helped by its small, low-price cars. It makes 10 models in India and imports one fully built model from Japan.
Bureau Report
Sales in April-December, the first nine months of fiscal 2003/04, rose 30.3 per cent to 328,019 vehicles from 251,797 a year earlier.
Indian car sales have powered ahead since March after February's federal budget cut production tax on cars and utility vehicles to 24 per cent from 32, allowing all automakers to cut sticker prices by more than five per cent.
A booming economy -- expected to grow more than seven per cent this fiscal year -- and interest rates near three-decade lows lows have also boosted sales.
The automaker, which completed a blockbuster IPO in June, has a 50.6 per cent share of the domestic car market helped by its small, low-price cars. It makes 10 models in India and imports one fully built model from Japan.
Bureau Report