Key Points
Mumbai, Oct 27 (PTI) Maruti Suzuki Indias net profit surged 80.3 per cent to Rs 3,716.5 crore in the July-September quarter, driven by better sales, softening commodity prices, cost reduction efforts and higher non-operating income...
The company had delivered a net profit of Rs 2,061.5 crore in the second quarter of the fiscal year ended March 31, Maruti Suzuki India said in a statement...
Maruti said it is expecting the affordability of small cars in the domestic market to come back in the next two to three years in the face of rising income levels of people and a growing economy, among others...
And given this kind of growth (rising income levels and growing economy), I expect that the affordability factor, which was in the past the reason for small cars (sales) going down, that factor is going to gradually get eroded and in the next, maybe two or two years, we will find that people once again, will be able to afford a small car and the market should gradually come back, Maruti Suzuki India Chairman RC Bhargava said at the post-earnings virtual media conference...
The importance for small cars coming back, Bhargava said, is that without the growth at the entry-level and the small car market in a retail space like India, we cannot sustain good growth levels in the industry...
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