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Maruti Suzuki Captures 50% of Indian Car Market
Maruti Suzuki India Ltd. reports that its sales surged 13% to 1.78 million vehicles in the fiscal year ended last month, hiking its share by 2.7 points to half the Indian market.
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Maruti Suzuki India Ltd. reports that its sales surged 13% to 1.78 million vehicles in the fiscal year ended last month, hiking its share by 2.7 points to half the Indian market.
The expansion boosted the venture’s revenue 17% to 781 billion rupees ($11.7 billion) and increased net profit 5% to 77.2 billion rupees ($1.2 billion).
But Chairman R.C. Bhargava says the company’s outlook is clouded by India’s ambitious car electrification goals. He notes that about 75% of new cars sold in India are less than 4 meters (12 feet) in length and cost no more than 500,000 rupees ($7,500).
Bhargava estimates that electrifying such a vehicle would more than double its price. He suggests that hybrid powertrains or piston engines modified to burn compressed natural gas rather than gasoline would be far more economical options to improving India’s air quality.
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