Joint venture Honda Siel Cars India expects double digit sales growth in fiscal year 2010, thanks to improved consumer sentiment and better availability of credit.
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“Many positive things are happening… all-round sentiment is much improved and finance availability is also much better,” marketing chief Jnaneswar Sen told Reuters on Friday. “The only snag is the monsoon, and what effect it would have on demand.”
In the last financial year, Honda Siel sold 55,000 cars, down from the 60,000 it has sold in the previous year.
The company will increase production of the Jazz by 50% next month, Sen said. Since launch in June, 3,000 have been sold.
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