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Maruti eyes record export this fiscal
January 14, 2004 18:48 IST
Maruti Udyog Ltd said on Wednesday that it would record highest-ever exports of 50,000 cars this fiscal.
MUL managing director Jagdish Khattar, however, said the strengthening of the Japanese currency yen and weakening of the US dollar was affecting the company's earnings.
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Talking to reporters after the unveiling of five new Suzuki vehicles at the Auto Expo that starts on Thursday in New Delhi, he said India will soon become a major small car manufacturing country in the world.
The country's biggest carmaker had exported 32,000 units last fiscal.
To cut costs, the MUL has taken various steps like workforce revamping and supply chain management, Khattar said.
MUL, which is 54.2 per cent owned by Japan's Suzuki Motor Corp, hopes the newly-operational aluminium foundry, near Delhi, would also save about Rs 80 crore (Rs 800 million) annually by substituting imports from the parent company, director (marketing and sales) K Saito said.
The company is displaying 18 vehicles at the expo, including the sporty 'Concept S', which has an advanced navigation system and push button controls on the steering wheel replacing standard controls like the gear lever, hand brake, direction indicators and wipers.