Maruti signals tough road, gives weakest growth forecast in the past 5 yrs

The carmaker's net profit fell by 4.6 per cent to Rs 1,795.6 crore

Maruti Suzuki, India’s largest carmaker, sounded the alarm bells for the auto market, signalling its weakest growth forecast in the past five years.

The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.

Last year, the company targeted a 10 per cent rate of growth in sales but later revised it to 8 per cent. The Suzuki-owned company has been logging a double-digit growth rate for four consecutive years. The company attributed the tepid growth forecast