India's carmakers on Thursday said sales for the financial year ended March were robust, as demand improved due to government stimulus packages, cheap loans and new model launches. Demand for cars has been on the rise in Asia's third-largest automobile market, making India an attractive target for global automakers.
Japanese-controlled Maruti Suzuki, India's largest passenger carmaker by sales, posted its hi18,365 vehicles, including exports, up 28 percent on the previous year. It was the first time an Indian car company had sold more than a million units in a year. For the month of March, Maruti's sales, including exports, rose 11 percent to 95,123, from 85,669 for the same period last year.