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Maruti Suzuki export drops 19%, sales fall 0.7% in Nov amid sluggish demand

Indian automakers are grappling with high commodity prices and foreign exchange rates

Reuters 

Maruti Suzuki
Maruti Suzuki

Carmaker India Ltd said on Wednesday it would struggle to meet its target of double-digit sales growth for the year.

Indian automakers are grappling with high commodity prices and foreign exchange rates, amid weak monthly sales and slowing demand in the domestic market.

Maruti Suzuki's sales in November fell 0.7 per cent, while exports plunged over 19 per cent in the month.

Achieving the double-digit sales growth target for the year "looks to be difficult," RS Kalsi, senior executive director, marketing & sales, told reporters at the company's year-end media meeting in New Delhi.

The company had said earlier this month that it would raise prices across various car models in January to mitigate the impact of high commodity prices and foreign exchange rates.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, December 19 2018. 13:58 IST
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