Largest car maker sees no reason for cheer in FY14
Maruti chairman RC Bhargava said, “The next year will be very difficult. We don’t see a double-digit growth and 6-7% is the best we can hope for. It’ll be the election year, so no strong initiatives are expected. This year we’ll end with a 6% growth over last year, which wasn’t very great either."
The country’s largest car maker also said it will not enter the premium segment of passenger cars in India and will ‘protect’ its image of a small car manufacturer. The company said it has started spadework to set up its second facility in Gujarat with acquisition of another 600 acres, in addition to its existing plan to invest Rs 4,000 crore for setting up a plant in the state.
“We have land at two locations in Gujarat. The first one is offered by the government and the second one is private land that is directly acquired by us with some negotiations by the government," Bhargava said, adding, “The second location is for our future expansion. Once we exhaust the capacity at the first site, we will move to the second one." He, however, did not share details such as when the firm is likely to start
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