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Maruti targets double-digit sales expansion in current fiscal

LiveMint logoLiveMint 12-05-2014 Shally Seth Mohile

Mumbai: Maruti Suzuki India Ltd is looking at double-digit growth by the end of the current fiscal year, the firm told its ancillary makers at a meeting in Dubai last week, according to two suppliers who attended. Both declined to be identified.

The target comes against flat sales in the year ended 31 March. Maruti sold 1.5 million vehicles in 2013-14 in a market that saw sales dropping 6.5% to 2.5 million units due to faltering economic growth and tepid demand.

The local arm of Japan’s Suzuki Motor Corp. plans to launch two new models in 2014-15—a mini truck and a replacement to the SX4 sedan.

The company plans to advance the launch of its mini truck by two years, Mint reported on 17 April. It also plans to adopt a more focused marketing approach to prop up sales of its under-performing models.

Maruti’s shares rose 3.99% to a record Rs2,051.40 on Monday. The benchmark Sensex gained 2.42% to 23,551 points.

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