Maruti Suzuki counts on GST cuts to revive India’s small car market |
New Delhi: India’s biggest carmaker, Maruti Suzuki, is sounding upbeat about the road ahead for passenger vehicle sales. The company believes the industry could return to its long-term average growth of 7% CAGR by FY27, thanks to GST rate cuts, income tax relief, and cheaper EMIs. For a sector that has been stuck in low gear in recent years, this optimism stands out.
Maruti expects small car sales, a segment where it dominates, to rise by about 10% in the coming years. The company sees the latest GST reform as a critical turning point, with car prices set to fall between 3.5% and 8.5%........