Maruti Suzuki Eyes Production Of One Million Cars
Maruti Suzuki, the Indian subsidiary of Japan-based Suzuki Motor, forecasts production of over one million units for the fiscal year from April 2009 to March 2010. The company produced 966,069 cars from January to December 2009 (up 27% from the year before). This reflects that production will exceed one million units on both a calendar-year basis and a fiscal-year basis for the first time.
In expectation of growth in the Indian car market, Maruti Suzuki will invest INR17bn (about ¥33bn) in new facilities at its Manesar plant to increase the annual production capacity to 550 thousand units from the current 300 thousand units.
The company said that the new facilities are scheduled to start operation in spring 2012. As a result, it will have annual production capacity of 1.25 million units (700 thousand units at its Gurgaon plant, 550 thousand units at its Manesar plant, both in India).
In 2009, the Indian market for passenger cars exceeded 1.5 million units. Maruti Suzuki currently has a 55% market share.
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