In a bid to retain its top slot in the Indian car market, Maruti Suzuki Ltd is devising a ploy to meet the demand for its vehicles. Amidst cut-throat competition, the company intends to increase its production in another five years. The annual sale volume in the Indian car market, 1.5 million is targeted by giant companies like GM, VW, Hyundai and Ford. Of these, 1.2 million units comprise the small car segment, in which Maruti dominates the most. Following the suit areToyota, Honda and Nissan to tap the potential of small car market.
The Chairman of Maruti told that the company is moving on the lines of the domestic growth and the next five years will see the double growth of the company. The task is to keep pace with the local economy and there will be a double fold growth in another 5 to 6 years. Maruti has a better say in the segment, with its sale in last year was thumping- more than one million cars- an odd feat by any company in India. Last month the company sold about 68668 units beating the arch rival Hyundai’s 28501 units. The year 2009 saw many launches of car in India and in the last Q of 2009-10, GM launched its Beat while Ford presented its Figo and finally VW staked its claim with its Polo.