Maruti Sales Up Marginally in Mar 2008

1 Mar 2008

Maruti India Ltd on Saturday reported slight increase in domestic sales in February 2008 at 59,311 units as against 59,095 units in Feb 2008. The company said this low increase is due to the fact that customers postponed their purchase decision in anticipation of the excise duty cut in the budget.

The Finance Minister Mr P Chidambaram yesterday proposed to bring down excise duty on small cars to 12 per cent from the previous 16 per cent. In light of this Maruti has decided to pass on the the benefit of the excise cut to customers. It has cut prices of its sma ll cars in the range of Rs 6,500 to Rs 18,030. In the A2 segment (which comprises of hatchbacks Alto, Zen, Wagon-R and Swift) the company sold 44,059 units in February, up 2.7 per cent from a year ago.