Maruti to sell 1 million cars by March 2010

Maruti Suzuki, India's largest car manufacturer is expecting to cross the 1 million sales mark by the end of current fiscal year. As the economy is going through a rebounding phase in this  fiscal, the company has registered a descent increase in its sales compare to last fiscal year. Though the company is expecting to face tough situation in coming fiscal due to rising raw material prices and an expected withdrawal of stimulus package by the government.

According to RC Bhargava, chairman of the company, Maruti Suzuki which sells one of every two cars in India and dominates the compact car segment, would have to look at the tax impact if the government withdraws its stimulus package. All these are concerns and it is not possible to make a firm accurate forecast of what will happen in the next 15 months, he told Reuters.

Indicating to the sales of the company Mr Bhargava added that it is expected to increase by 26 percent from 792,166 units in preceding year. Company's exports also expected to be doubled to 1,45,000 units. Maruti has already sold around 731,000 units of its vehicles in first three quarters of current fiscal year.

Referring to the exports of the company Mr Bhargava added that as the company has started selling its vehicles in new markets like Africa, Australia and New Zea land, the impact of ending of a 'scrap older cars scheme'(for Maruti A-Star) in Europe will not affect the sales figure that much.