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Car makers and two-wheeler manufacturers put up a good show during the month of June , with almost all of them reporting handsome growth in sales. Credit at lower interest rates and hefty monsoon discounts helped Indian car and two-wheeler makers post healthy growth for the third consecutive month of the financial year during June. The upbeat sales were also made possible due to several tie-ups between automakers and public sector banks , which provide cheaper credit then their private sector peers.
The country's largest car maker Maruti Suzuki reported a 22.63 per cent jump in its June sales at 75 , 109 units.
Maruti Suzuki India , majority-owned by Japan's Suzuki Motor , announced Wednesday record exports in June , led by improved demand across European markets. Maruti Suzuki is committed to offer world-class products in the Indian market which is proven by our sales growth month-on-month.
Maruti , which sells One in every two cars sold in India , introduced the Ritz in May - its seventh
small car model - as it attempts to maintain market leadership amid intensifying competition from Fiat SpA , Honda Motor Co. and General Motors Corp. Maruti Suzuki shipped more A-Star small cars to Europe , particularly to countries such as Germany , the U.K. , the Netherlands , Spain and France. The A-star has met overwhelming customer response in European markets.
Maruti Suzuki India reported net profit of Rs 2.43 billion (48 million dollars) in the three months to March , from Rs 2.98 billion a year earlier. Maruti-Suzuki also keeps itself busy with the plans on bringing the CNG variants of their vehicles. The period that these cars are expected to hit the markets is yet uncertain
as the decision still lies in the planning stages.
Maruti commands the lion's share of the Indian automobile market although its dominance has been reduced with the entry of global car giants in the past decade.