Our Bureau
Gurgaon
One of the automobile giants in India, Maruti Suzuki India Ltd. is all set to dwell further into the SUV portfolio. The company is planning an expenditure as they are looking to launch their second mid-sized model in the market. The sources have revealed that the top carmaker of the country is getting into the SUV market to slow the demands for their small cars, which serves as their bread and butter.
The reports that have come out have suggested that the company is planning to launch their second entry to the SUV market next month on 3rd September. It is being reported that the company has high hopes from their new project as they believe it will double its sales in the segment.
This will be the first ever new model that will be coming out from the Kharkhoda plant situated in Haryana. The Indian unit of Japan’s Suzuki Motor Corp. is said to be targeting around 10,000 units a month when scaled fully. This launch is coming at a crucial stage as the company is moving to heavily focus on the SUV portfolio.
The shrinking market of the small car and the fall in sales has put the company’s goal of increasing their share in the domestic market to 50% from around 40% that it is sitting at right now, in doubt. The company’s scarcity in the SUV sector has given rivals like Mahindra & Mahindra Ltd., Hyundai Motor India Ltd. and Tata Motors Ltd. a head start.
Recently, Maruti Suzuki big size model, Grand Vitara has not seen a search in their sales and has been plateauing for a while now. With this new model the company has higher expectations and are projecting it as a more market friendly version.
