Maruti Suzuki will be launching 20 new models by the end of this decade to gain a stronger foothold in the Indian subcontinent as our country is expected to contribute majority sales for the company in Asia by 2020.
Suzuki considers the Indian market as one of the main contributors to the company’s future growth prospects in the world. At a recent presentation to the company’s investors, the Japanese giant stated that it is targeting 3.4 million vehicles sales by the end of this decade (2020). The Asian subcontinent will most likely contribute to more than 64 percent (2.2 million) of its global volumes by that time and India on the other hand will contribute a majority share of 58 percent or 2 million annual sales volumes by then.
In FY15, Maruti Suzuki contributed around 43 percent of Suzuki’s global volumes and 30 percent of the company’s overall profits. To further cement its position in the Indian automobile market and gain a larger piece of the prospering car market, Maruti Suzuki has revealed that they will be launching as many as 20 new models which include full model changes of existing cars, while also entering uncharted territory with new segments. The company is wanting to make India a long term developmental hub by co-developing more vehicles in collaboration with Indian engineers.
The launch of 20 new models will be kicked off by the Maruti Suzuki S-Cross that is due to launch in the coming few weeks, YRA premium hatchback which will be launching later this year, YBA compact SUV which is expected in the first half of 2016 and quite possibly even a MPV based on the Wagon R. Other well-selling models including the Alto 800, Swift, Swift Dzire and Ertiga are expected to get their next generation models in the coming 5 years. Maruti Suzuki is also looking to launch a more premium MPV as well which will be placed above the Ertiga, thereby competing with the segment king, the Toyota Innova.
Source – EconomicTimes.com