Maruti Suzuki news august 2011, Indian consumers still confident | CAR SALES | Something curious is happening at Maruti Suzuki. 2011 has been cruel on India's largest carmaker - a crippling strike followed by plunging sales (25% down in July) has left the company and auto analysts reaching out for their seat belts. The company expects measly single-digit growth for the industry this year. At the same time, more and more people are actually walking into showrooms to actually check out new cars, says Mayank Pareek, executive marketing director Maruti Suzuki.
"This signals two things - sentiments are good and the intention to buy is intact but they are holding on to the purchase for interest rates or other reasons," says Pareek. "The consumption story is powerful and intact. Long-term bullishness remains."
Deep Kalra, CEO of Makemytrip.com, India's largest online travel portal, points out to the traveller numbers in the holiday-segment of the company's business. In the past two years, the number has more than doubled to 4,50,000. This season, Kashmir, says Kalra, had the best tourist season ever and there were no hotel rooms available for booking. India's domestic aviation traffic grew by 14 % in June - second only to Brazil (15.1%) globally. In Mumbai, the mood at the Future Group, the country's largest modern retailer, is equally upbeat. Damodar Mall, the group customer director, sees "growth coming in on the higher side".
This means that a woman who works Jyothi - plows AAM India and the equivalent of the American, Joe the plumber - is to keep the zipper in her purse open? Do you continue to spend on groceries, and splurge on shopping sprees for his shopping center, despite 11 rate hikes in the central bank over the last 18 months? Will he buy a small car that was going to buy more than two years, by the end of the year? Going Pareek Kalra and see what their business, it seems that the great Indian consumer is not used for power, although many of the macroeconomic data lose their charm. - CAR SALES
Maruti Suzuki news august 2011, Indian consumers still confident