Maruti Suzuki sees sales growth falling short of FY target

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Carmaker Maruti Suzuki 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.

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Maruti Suzuki`s sales in November fell 0.7 percent, while exports plunged over 19 percent 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.