Expect India to be 3rd-biggest car market by 2020: Suzuki Motor Corporation


Team Udayavani, Mar 12, 2017, 11:55 AM IST

Geneva: Suzuki Motor Corporation (SMC) expects India to grow into the third-biggest car market in the world by 2020 and is “determined” to play a big part in that growth. 

The company, whose arm Maruti Suzuki IndiaBSE -0.17 % commands nearly 50 per cent of the passenger vehicle market in the country, has already started operations at its new plant in Gujarat as part of the plan to raise its total production to 2 million units by 2020. 

“India is expected to grow into the third-biggest car market in the world by 2020 and we are determined to play a big part in that growth,” said Kinji Saito, Executive General Manager and Managing Officer (Global Automotive Operations), Suzuki Motor Corporation, at the Geneva Motor Show here. 

He said that in India, Suzuki has been the market leader for decades, with nearly 50 per cent share. 

The company plans to introduce more new products in India even as it gears up to meet additional demand by increasing its production capacity. 

“In fact, we started operations at a new plant last month on the way to increasing our total capacity in India to two million units,” Saito added. 

The Gujarat plant is envisaged to have an installed capacity of 7.5 lakh units annually. MSI’s two units at Gurugram, earlier known as Gurgaon, and Manesar have a total production capacity of 1.5 million units annually. 

Maruti Suzuki India (MSI) is accelerating product introductions with an eye to strengthen its hold in the Indian market. As part of its 2020 target, the company had earlier said it would bring in 15 models by then. 

In the next fiscal, MSI plans to introduce four new products. It has has been bringing about two new products each year in the past couple of years. 

The company will launch the all-new third generation Swift, which was unveiled here, in India in the spring of 2018. It is also gearing up for the upgraded version of its premium crossover S-Cross later this year. 

In April to February this fiscal, MSI has sold around 13 lakh units. 

Globally, SMC sold 2.9 million units 2016, Saito said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

After Yogi’s ‘batenge, katenge’ slogan, PM pitches for unity with ‘Ek hai, toh safe hai’ message

“Coming soon.. 2025”: KL Rahul and Athiya Shetty announce first pregnancy

Mangaluru: Unauthorized bus stops at signals fuel traffic woes and safety concerns

SC notice to Karnataka, DK Shivakumar on CBI plea against withdrawal of consent by state govt

Will remain active in politics till my last breath: JD(S) patriarch & ex-PM Deve Gowda

BJP calls Congress govt ‘laughing stock’ as ‘samosa politics’ heats up in Himachal

Chikkaballapur: Yoga teacher feigns death by holding her breath, escapes murder bid

Related Articles More

NSE, BSE to be closed on Nov 20 for Maharashtra assembly polls

Sensex, Nifty fall for 2nd day on FII selling; RIL, ICICI Bank major drag

Sensex, Nifty fall over 1 pc, snap two-day rally ahead of US Fed interest rate decision

SC orders liquidation of grounded air carrier Jet Airways’ assets

Home-cooked meals become dearer in October on costlier vegetables

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Udupi: Car collides with bike; Rider injured

UP women’s body proposes men shouldn’t tailor women’s clothes or cut their hair

NSE, BSE to be closed on Nov 20 for Maharashtra assembly polls

After Yogi’s ‘batenge, katenge’ slogan, PM pitches for unity with ‘Ek hai, toh safe hai’ message

24/7 CT Scan Facility Inaugurated at Dr. TMA Pai Rotary Hospital, Karkala

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.