The country’s largest car manufacturer Maruti Suzuki India (MSIL) on Wednesday said that the Indian auto industry is going through its toughest times and even the festival season may not help boost sales.
“We are hoping sales will pick up in the festival season but we are not expecting very strong sales considering the current macro-economic conditions. It will not be as euphoric as last year,” Mayank Pareek, Chief Operating Officer - Marketing & Sales, MSIL, told reporters here.
He said the rupee depreciation has put pressure on margins and even giving discounts are not helping sales. The company’s discounts across its model range this year have been 20 per cent more than the last year with the average discount being around Rs 14,600. On the positive side, Pareek said the company is expecting good sales from rural markets because of the bountiful monsoon this year adding that around 30 per cent of the company’s sales come from rural markets, at present. MSIL would reach out to more villages in the near future, he said.
The company, that has no small diesel engine in its portfolio, said that it is not worried much as the difference between petrol and diesel cars are getting narrower and demand for petrol vehicles has been coming back in recent months.
The company launched a new hatchback, Stingray, priced at Rs 4.10 lakh -Rs 4.67 lakh (ex-showroom, New Delhi). Based on the WagonR platform, the Stingray will be available in Lxi and Vxi variants with optional anti-lock braking system and airbags in the Vxi variant.
The new car has features including projector headlamps, reflector grille, alloy wheels, audio system (in-built) and passenger seat under-tray and offers a claimed fuel efficiency of 20.51 kmpl.