Maruti scales up export target by 8%

Maruti Suzuki India Ltd. | Automobiles - Passenger Cars | Automobiles | BSE: 532500 | NSE: MARUTI

22 Sep 2009 Evaluate

Buoyed by the growing demand for smaller cars in Europe and other developed markets because of the scrappage incentives being offered there, Maruti Suzuki India has increased its export targets by nearly 8%. The company is looking at exporting 1,30,000 cars in the current financial year, which would be higher than earlier envisioned, according to RC Bhargava, chairman, Maruti Suzuki India. There could be higher demand from Nissan as well and the company is expected to sell 53,000 to 54,000 units of A-Star, which are being sold as Pixo in Europe, as against the earlier order of 50,000 units. At the beginning of 2009-10, Maruti Suzuki had set a target of exporting 1,20,000 cars, out of which nearly 1,00,000 would have been the A-star variant. The company exported 70,000 cars in 2008-09.

Till last year Maruti Suzuki had no car for export to Europe, which is big market for small cars. It was only when the company launched A-Star and started its export from January this year that the company is eyeing nearly 85% growth in the exports figure this year vis- -vis last year.

The company's biggest challenge as of now is to get its research and development (R&D) going. It has invested Rs 1,000-1,500 crore in the new R&D facility and test track coming up in Rohtak, Haryana. It is also in the process of increasing manpower to 1,000 by 2010 from over 700 now, as this centre will help India play a major role in designing future models of Suzuki.

Maruti Suzuki

India

, which has posted around 17% growth over the last three months, is eyeing similar numbers in the next three months as well on the back of festive demand. The 4% excise duty cut in the first stimulus package helped in reviving customer sentiments but we have to wait and watch how things evolve post the festive time. Sales of Maruti Suzuki

India

went up 29.3% in August at 69,961 units while the overall passenger car industry grew 22.4% at 1,52,100 units last month.crack crack

Maruti Suzuki Share Price

13789.55 69.00 (0.50%)

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Company Name	CMP
Tata MotorsPassenger	358.55
Maruti Suzuki	13789.55
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Hyundai Motor India	1837.50
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