Maruti cuts growth projection by 50%

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New Delhi, Nov 19 (UNI) Maruti Suzuki India Ltd (MSIL), the country's largest carmaker, today said it hopes to achieve a 4-5 per cent growth in sales by this fiscal-end, skidding from its initial target of 10 per cent due to sluggish demand for the products.

''At the begining of the year, we were eyeing a 10 per cent growth but with the changing scenario, we hope to end the year registering a 4-5 per cent growth,'' MSIL Executive Officer (Marketing and Sales) Mayank Parekh told reporters at the launch of its latest offering 'A Star', at a price of Rs 3,46,775 (ex-showroom Delhi).

The company is hopeful that despite slowdown, the new car is expected to follow the footsteps of its earlier success models such as Dezire and Swift.

However, it ruled out to introduce CNG version of its new car.

The company targets to sell about 50,000 units in the domestic market and one lakh units abroad.

UNI AK MP GC1558

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