New Delhi: Maruti Suzuki India Limited, the nation's biggest carmaker, posted highest-ever monthly sales in May as new models and rising consumer incomes boosted demand.
Maruti sold 102,175 vehicles worldwide during the month, 28 per cent more than a year ago, it said in a statement yesterday.
Exports were 12,134 units, the New Delhi-based automaker said.
The Suzuki Motor Corporation unit introduced the Eeco van and a new version of the WagonR compact this year, to compete with new hatchbacks from Ford Motor Company and Volkswagen AG, and to take advantage of accelerating economic growth in the India.
Growing economy
In the quarter that ended in March, India's economy grew 8.6 per cent, the government statistics office said yesterday.
Maruti rose as much as 4.9 per cent, the most in more than three months, in Mumbai, reversing earlier declines, and changed hands for Rs1,292.5 as of 12.08pm.
The benchmark Sensex fell 0.5 per cent.
Chennai (Bloomberg) Nissan Motor Company and Ashok Leyland Limited will start selling light trucks in India from mid-2011, the companies said in a statement in Chennai yesterday. The joint venture will also explore exports of the trucks, the companies said.
A group led by Nissan Motor Company expressed interest in buying South Korean carmaker Ssangyong Motor Company, an executive at the Japan-ese carmaker said.
The Korean unit of France's Renault SA placed a bid or "acknowledgment of an interest for Ssangyong facilities," Andrew Palmer, a senior vice president at Nissan, said in Chennai. Nissan is leading the effort, Palmer said.
