Maruti to go full speed on new model launches
02 February 2013
Undeterred by inflation figures and the consequent drop in consumer spending, Maruti Suzuki India Ltd today said it intends to introduce 10 new models in the domestic automobile sector over the next five years.
The company, majority-owned by Japan's Suzuki Motor Corp, is India's top car manufacturer, specialising in small economy-class vehicles. It is preparing to launch new products across all major vehicle segments of Indian auto market, including light commercial vehicles.
Maruti Suzuki has set a target of increasing its vehicle manufacturing output to 3 million units over the next five years.
The company's new ambitious vision looks like a confident bid to reclaim its best ever share of 44.64 per cent in the Indian auto market, which it achieved in 2010. It fell to 37.76 per cent, the worst in its history, in the 2012 calendar year.
In its monthly numbers (Car sales hit slow lane in January), Maruti Suzuki reported a decline in sales in January, its first in five months, pulled down by a sharp fall in exports. The company said domestic car sales actually increased in January.