Maruti to go ahead with LCV launch in current fiscal

Country's largest car maker Maruti Suzuki India plans to launch its first ever light commercial vehicle (LCV) during the ongoing fiscal despite declining sales in the segment.

'Our plans to launch the LCV during the current fiscal remains intact. We plan to launch it in few states first as a pilot project before going pan India,' MSI Executive Director Marketing and Sales, RS Kalsi told PTI.

LCV sales are still under pressure in the domestic market even as the other segments in the commercial vehicle segment have started showing some level of growth.

MSI plans to sell the LCV through a separate network.

Commenting on the passenger vehicle sales, Kalsi said the company plans to reach out to 1.5 lakh villages this fiscal as compared to 1.25 lakh villages last financial year.

'We are looking to expand our reach in the rural areas. It would help us compensate for slowing demand from these areas,' Kalsi said.

The company currently gets one third if its sales from rural areas, he added.

When asked about sales growth in the current fiscal, he said the company is looking to maintain double digit growth.

He added that the percentage of first time buyers has gone up to 44 per cent in the ongoing fiscal, as compared to around 37 per cent last year.