Maruti sees double-digit growth next fiscal

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 the industry it could be 5-10 per cent," Maruti Suzuki India managing director and chief executive Kenichi Ayukawa told reporters in Delhi on the sidelines of the JD Power Awards.

When asked what will be primary growth drivers, he said, "New models like the Baleno and Vitara Brezza will play a major role. The Vitara Brezza is effectively going on sales in the next fiscal only."

In April-February period this fiscal, the company sold 12,99,903 units as against 11,808,60 units in the year-ago period, up 10.1 per cent. 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.