Maruti suzuki stays in pole position in FY17

Maruti Suzuki is set to outpace the automobile sector once again, with the nation’s largest carmaker expecting growth to hit double digits in fiscal 2017 and repeat the performance the following year as well. The company has told component vendors to be ready with supplies for production of 17.25 lakh to 17.30 lakh vehicles in fiscal 2018 starting April, people in the know said. In the first 11 months of fiscal 2017, it sold 13.1 lakh vehicles in the domestic market, a nearly 11 per cent increase from a year earlier. The Society of Indian Automobile Manufacturers predicts the passenger vehicle industry to expand 6-8 per cent in fiscal 2017. SIAM has yet to announce its outlook for fiscal 2018, but at a recent looking-ahead conclave, it predicted growth rate to be similar to this year, a person in the know said. Chairman RC Bhargava, however, said Maruti has yet to finalise its plan for next year. But with the company all set to grow in double digits in fiscal 2017, and economic growth gaining momentum, there is no reason why it cannot repeat the performance, he added.