AMID rising concerns of a major slowdown in the automobile sector that has forced companies and dealer showrooms to give big discounts, the country's largest carmaker Maruti Suzuki India Ltd (MSIL) said on Tuesday that its retail sales this festive season (between the end of Shraadh and Diwali) is likely to have grown by 14% to nearly 3 lakh units.
"The festive season has been pretty good. We are expecting 14% growth in retail sales. This will bring down inventory levels at dealer showrooms by this month-end," said Maruti Suzuki Chairman RC Bhargava while acknowledging that demand for cars, especially those priced below ₹10 lakh, has slowed down due to lack of affordability.
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