Maruti Suzuki on course to register double digit growth in FY 2016
Hyderabad, July 31: The country's largest automotive maker Maruti Suzuki India Ltd, with a 46 per cent share in the domestic market, expects to achieve double digit growth in this financial year.
"The first quarter witnessed 13 per cent growth, and we expect to continue to grow in the remaining three quarters. While the automotive sector in the country is projected to grow by 6-8 per cent, we would potentially record double-digit growth," R.S. Kalsi, Executive Director of Maruti Suzuki, said.
Speaking after the launch of the NEXA Jubilee Showroom of RKS Motors in Hyderabad, Kalsi said, "The company continues to be a leader in the domestic market, accounting for a 46 per cent share. In fact, we gained about 2.9 per cent share last year, amidst competition from 17 other players."
Kalsi said the management was in the process of drawing up a perspective plan to grow the sales volume to two million units per annum by 2020. In this journey, the company may bring a number of models from the Suzuki stable. About 20 new models are planned over the next few years.
In order to meet the projected capacity, the company is in the process of setting up its third plant of 7.5 lakh units in a phased manner in Gujarat. In phase one, to be ready by 2017, capacity of 2.5 lakh units would be added to the existing 15 lakh units, Kalsi said.
The senior management of T Hashimoto, Executive Director; R.S. Kalsi, Executive Director; and Partho Banerjee, Senior Vice-President were in Hyderabad to inaugurate two NEXA showrooms- one under the RKS Motors banner and the other belonging to Varun Motors, both leading dealers of Maruti cars in Hyderabad.
Hashimoto said Maruti Suzuki has been a leader in the domestic market during the past three decades and would continue to work towards retaining its top position over the next three decades- the launch of NEXA showrooms was an initiative in that direction.
VinaySaboo of NEXA Jubilee Saboo RKS Motors said the journey with Maruti over the past two decades was engaging with more than one lakh customers spanning a network of three Maruti showrooms, three True Value showrooms, seven Maruti workshops, and two driving schools.
The NEXA showrooms being opened by Maruti Suzuki are positioned as premium sales channels, enhancing the customer retail experience.