Suzuki rethinks promise of India's auto market, and it is not alone [Reuters (UK)]
SUZUKI MOTOR CO UNSP/ADR (SZKMY)
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Source: Reuters
Suzuki rethinks promise of India's auto market, and it is not alone - Reuters 4 Min Read * India autos will no longer see uninterrupted move upwards-Suzuki * Global players re-evaluating strategy, focus on strengths * Taxes, regulatory changes plaguing global car makers in India By Aditi Shah NEW DELHI, Nov 8 (Reuters) - Suzuki Motor Corp said it was no longer gung-ho about India’s auto market, the world’s fourth-largest, where it has seen relentless growth in the past seven years. And the parent of the country’s biggest car maker is not alone. The Japanese automaker issued the warning after it reported a slump in quarterly profit this week on tumbling sales at its Indian unit, Maruti Suzuki, which accounts for half the number of cars sold in India. “We no longer think that growth in India will be an uninterrupted move upwards,” Suzuki President Toshihiro Suzuki cautioned. Maruti’s sales, which were growing till January, has slipped every month over February-September 2019. India’s au
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