THE LONG term sustained growth of the automobile industry is only possible if the economy continues to grow at 8-10% a year, while inflation and interest rates are low. Better infrastructure, which facilitates the smooth movement of traffic, would reduce pollution and promote economic development.
Maruti Suzuki India Ltd (MSIL) yesterday said it was hoping to double its exports this fiscal to about 1.6 lakh units. The company, which is also a higher contributor to the earnings of Suzuki Corp even more than the parent company this fiscal, is also aiming for over 20 per cent growth in its overall sales.
Major auto companies, including Maruti Suzuki, Mahindra & Mahindra and General Motors, today reported record sales for January, signalling that the worst is behind for the industry that was battered by the global economic meltdown.