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| August 20, 1999 |
Maruti to target Rs 100 billion turnover in 2000-01
Riding on its new models and upgradations of its existing vehicles, Maruti Udyog Limited has targeted to steer past the Rs 100 billion turnover target by the 2000-01 fiscal, MUL managing director Jaddish Khattar said in New Delhi today. He said the company was confident of improving sales and touching a total vehicle sales figure of 400,000 by the end of the current fiscal as against around 330,000 units in 1998-99. ''We expect to end 1999-2000 with a turnover of a shade below Rs 90 billion,'' he added. Of the total vehicle sales during the year, MUL expects Maruti-800, the Zen and the Omni to corner the major chunk. ''This year we should do better... The cake is getting bigger and we are selling whatever we have been producing. In fact, due to production constraints, we have not been able to produce more and meet the growing demand for our vehicles. The bottomline is certainly going to improve.'' The company, he said, has registered a 15.7 per cent growth in sales during the first four months of the current fiscal and sold around 121,000 units during the period. Around 56,000 units of the Esteem have already been sold in the four-month period to corner a 36 per cent market share in the mid-size segment. Around 25,600 units of the Zen were sold in April-July 1999, as against 23,000 units a year ago. The Santro of Hyundai was the second largest selling model in this segment with a total sales of 17,600 units during the period. MUL, Khattar said, has been trying hard to meet the increasing demand for the Zen. ''In fact, we have now been forced to import some critical components of the vehicle so as to produce a few extra cars and meet the growing demand. Around 1,000 such cars have already been produced and put in the market.'' The Zen has also captured a 36 per cent market share in its segment. Despite stiff competition, Maruti is confident of remaining the leading car manufacturer with the majority marketshare. Although Khattar refused to give any marketshare figures targeted by the company, he said, ''it will surely be over 50 per cent.'' The company, Khattar added, is also not planning to expand capacities for the present. ''We are in the process of setting up our third plant and when functional, it would be able to meet our requirements. Even with the new models, we are not looking at any further expansions for the time being.'' He also refused to divulge details about the new models which the company intends to roll out. "We will be introducing contemporary technology and products in the market.'' However, he stated that the new launches are planned with a view to address every segment of the Indian automobile industry. ''If you have to maintain a leadership position you have to be present in all the segments of the industry.'' Maruti will also try to expand its presence in the export markets with the introduction of the new models. ''We are presently exporting to around 80 countries and are constantly looking at new markets,'' he added. It may be recalled that MUL has lined up the launch of three new models in India, including the 1600cc Baleno which would hit the streets in November this year. This would be followed by the Wagon-R, sporting a 1000cc heart, in January 2000, and two versions of the Alto -- in 800cc and 1000cc -- in April 2000. The Baleno, to be introduced in two variants, would sport a price tag of Rs 725,000. UNI ALSO SEE
Maruti Baleno priced at Rs 750,000
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