Will need 25 models for 3-million sales target: Maruti

Written by PTI | New Delhi | Updated: Aug 29 2014, 06:51am hrs
Maruti Suzuki India is looking at nearly doubling the number of models to 25, a move that will span entry into the SUV and LCV segments, as it targets to sell 3 million cars annually.

The company will launch within a few months an SUV to compete with Renault's Duster, which will be followed by a compact SUV in 2016 to take on segment leader Ford EcoSport, as part of its strategy to be present in newer segments of the car market.

As regards the LCV launch, it is also in the process of setting up a separate network for its new foray.

The company, which is putting up a new plant in Gujarat with a total annual capacity of 1.5 million units, sold 1.16 million units last fiscal.

"To sell 3 million cars (annually), we need to have at least 25 models. With 12-15 models we would not be able to sell 3 million cars," Maruti Suzuki India chairman RC Bhargava said.

MSI currently sells over a dozen models, starting from entry level Alto 800 to multi-purpose vehicle Ertiga. "We will be present in the SUV segment in a few months from now, a model that will be competing with Duster in that size. It has to be something that can compete with the Duster, and in 2016 we will have a compact SUV under 4 metres, so that it gets benefit of lower excise and which will be in the same segment as the EcoSport," Bhargava said.