AFTER GROWING AT a fast clip in the past two years, the country's top two carmakers Maruti Suzuki and Hyundai - have warned of a low single-digit growth in 2024. While Hyundai has projected a growth of 3-4%, Maruti has indicated growth this year will be in low single digits.
In CY2023, both Maruti and Hyundai posted a sales growth of 8% year-on-year.
The two carmakers control close to 55% of the domestic PV market.
The caution comes on the back of a recordbreaking December performance in which sales of passenger vehicles grew 4.4% y-o-y, according to estimates by Maruti Suzuki.
Tarun Garg, chief operating officer at Hyundai Motor India, said 2024 could be a challenging year. "There could be a low single-digit, 3-4%, growth. But even that will be very good because we have had two good years," he said.
Diese Geschichte stammt aus der January 02, 2024-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der January 02, 2024-Ausgabe von Financial Express Mumbai.
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