Maruti Suzuki India Limited says car sales growth cooling
New Delhi, Oct 31 (ANI): India's biggest carmaker Maruti Suzuki India Limited said the growth in car sales will be slow in the second half of the year, dampening expectations of a rapid recovery in the country's automotive market. Maruti's Chairman RC Bhargava said sales momentum was now slowing, and growth over the 2014-2015 financial year would average out at about 10 percent. Indian car makers are launching new and upgraded models of their cars, betting on improved consumer sentiment and an economic recovery under Prime Minister Narendra Modi's new government. To fend off competition from rivals such as Honda Motor Co and Hyundai Motor Co, Maruti plans to launch new and upgraded models of its cars over the next 12 months, including in the premium segment where it has had little success in the past.
