Maruti sales up 14%, Hyundai posts 4% growth in March

Maruti Suzuki, country's largest car maker, has reported a double digit growth of 14.6% in domestic sales for March. The company posted growth of 11.5% in domestic sales in the year ended March 31, 2016. 

Nearest competitor and second largest player Hyundai reported a 15% growth in domestic sales in the last financial year. It's March sales, however, grew by just 4%.

The two companies together enjoy a 64% share in the domestic passenger vehicle market. 

"The company ended 2015-16 with its highest ever sales of 1429248 units, a growth of 10.6%. This comprises highest ever domestic sales of 1305351 units and 123897 units of exports. For the fourth year in a row, the top four best-selling models in India are from Maruti Suzuki: Alto, Dzire, Swift and WagonR", Maruti said in a statement. 

New launches like Baleno and strong growth in existing models helped growth for Maruti which enjoys a 47% market share. 

Commenting on the March sales, Rakesh Srivastava, senior vice president for sales and marketing at Hyundai said, “Hyundai for FY ’15-16 achieved an all-time highest volume of 484,324 units with 15.1% yearly growth with highest-ever market share of over 17% on the strong performance of models like Creta, Elite i20 and Grand i10".