Country’s largest carmaker Maruti Suzuki India (MSI) plans to launch two new models, Ignis and Baleno RS, towards the festive period this year as it looks to carry forward the momentum from the last fiscal with a double-digit growth in 2016-17.
The company, which posted its highest-ever total sales at 14,29,248 units in 2015-16 at a growth rate of 10.6 per cent, had launched three models S Cross, Baleno and Vitara Brezza in 2015-16.
“We posted record (domestic) sales in 2015-16. While the industry grew by around 7 per cent, we grew 11.5 per cent during the fiscal. We would like the growth momentum to continue and expect to grow in double digits during the period,” MSI Executive Director Marketing and Sales RS Kalsi told PTI.
When asked about new product launches this year, he said:
“We had showcased Ignis and Baleno RS during Auto Expo earlier this year. We plan to launch these two models towards the festive season this year.”
Besides, the company would also look at stabilising sales of recently launched compact SUV Vitara Brezza, which already has bookings of over 30,000 units, Kalsi said.
MSI, which launched the vehicle on March 8, has sold 2,500 units till now.
When asked if the company also plans to launch a petrol version of the compact SUV, Kalsi said: “No plans in the near future”.
In 2015-16, the company posted sales of 13,05,351 units in the domestic market, a growth of 11.5 per cent over 11,70,702 units in 2014-15 fiscal.
The market share soared to a seven-year high at 46.8 per cent in the domestic passenger vehicle segment during the fiscal.
The top four best-selling models in India—Alto, Dzire, Swift and WagonR came out from the Maruti Suzuki stable, for a fourth year in a row, he added.
The company’s focus on launching new models, technology upgradation and innovations led to the growth in sales during the last fiscal, Kalsi said.
When asked om sales outlook for the fiscal, Kalsi said: “I feel the industry would grow in a range of 7-8 per cent. At our end we would definitely like to grow better than that. We would look at a double-digit growth.”
On capacity expansion he said the company’s two plants in Gurgaon and Manesar have an installed capacity of 15 lakh units per annum and parent Suzuki-owned facility in Gujarat would also start production in the fourth quarter of the fiscal.
PTI