Maruti gains from improved sales of Swift and SX4

Maruti gains from improved sales of Swift and SX4

Maruti is the India’s largest car maker and the company has been posting impressive sales result as a result of improved sales of their SX4 Sedan and Swift Hatchback.

The company has reported that its profit grew for a 16th consecutive quarter as they gained from launching new products in the market.

Maruti’s net income in the three months ended June 30 rose 35 percent. This is better than what the market had been expecting them to post.

The company has launched as many as five models in the past year as they aim to attract more buyers. Market situations have been tough for the automakers in the country considering the interest rates on car loans have been quite high in the recent times.

Maruti managed to sell 169,669 vehicles in the first quarter of the current financial year. Parent company Suzuki has already announced their plans to invest as much as $2 billion by 2012 to produce new cars and expand capacity.

The competition is likely to get complicated once Tata Motors launch their Rs. 1 lakh car in the market which is expected to cost just a little bit more than the target price.