Passenger vehicle sales grow in single digit, companies feel slowdown pangs

Maruti Suzuki India missed its own revised forecast of 8 per cent for the fiscal

Auto majors Maruti Suzuki India, Hyundai and Mahindra & Mahindra reported single digit sales growth in the financial year ended March 31, as slowdown hit passenger vehicles demand for almost nine months of the year.

Honda Cars India and Toyota Kirloskar Motor (TKM) also reported single digit growth during the last fiscal.

The country's largest carmaker Maruti Suzuki India (MSI) despite selling a total of 18,62,449 units in 2018-19, its highest ever sales in a year, posted a growth of only 4.7 per cent from 17,79,574 units in 2017-18. The company missed its own revised forecast of 8 per cent