Maruti Targets 3 Million Car Sales
If there is one car that changed the automobile landscape in India, it is the iconic Maruti 800. 30 years later Maruti Suzuki still has a firm grip on the market despite the advent of global players in India. The Maruti 800 is history with a record sales of 2.7 million cars sold so far. MSI now has other models in the market and has ambitious plans on the anvil. The company hopes to sell over 2 million cars in the next five years, increasing the figure to 3 million in the future. In support Maruti has a research and development wing that it will ramp up still further to help the company achieve its target with the introduction of more fuel efficient, eco-friendly cars using LPG, CNG, diesel and petrol engines. The company hopes to be the first to introduce a car with 800 cc diesel engine with plans for hybrid and electric vehicles also under active consideration.
Mr R C Bhargava, Chairman of MSI, said in his address to shareholders in the Annual report for 2014 that MSI aims at becoming a global player. For the company 2013-14 marks the completion of 30 years of manufacturing in India during which it achieved sales of 11, 55,041 cars. He further stated that MSI did not join Suzuki Motor Corp in its plans to set up a plant in Gujarat because it had decided to chart outs its own future course and would be able to have more resources for its R&D activities that are so crucial to the company’s future in the face of competition from global players. About Rs. 2000 crores have been invested in a test course at Rohtak, which also has a highly advanced R&D centre, the first global R&D centre outside Japan for MSI.
Mr Kenichi Ayukawa, CEO & Managing Director of MSI announced that the company would broaden its product portfolio with SUV/MUV and also LCVs with compact diesel engines.
Currently the auto market is on an upswing with the last quarter seeing more car sales and the entire industry is in a positive mood following the Prime Minister, Mr Narendra Modi’s statement that Indian manufacturing will revive with government support providing more jobs and opening up markets with the removal of archaic controls. Maruti Suzuki has a head start as an Indian manufacturer and it would not be surprising to see its targets realized.
Source : EconomicTimes