year, which we think we will fall short. All overseas markets have uncertainties associated with policies and economy," he said.
Asked about future expansion, specially the company's Gujarat plant, he said the project is currently "in cold storage" at the moment.
"There is no point in creating additional capacity when there is no demand. We have the land, boundary wall has been erected but we are not undertaking any capacity creation. We have not decided when we will start work at the Gujarat plant," Bhargava said.
He said the company will wait and watch for the outcome of the upcoming general elections next year and what steps the new government takes in order to boost economic growth and manufacturing.
"We don't expect anything to happen between now and the elections. We hope the elections will bring something positive for the industry," he said.
MSI is, however, expecting December to break monthly record in terms of retail sales with about 1.2 lakh units, company, MSI COO (Marketing and Sales) Mayank Pareek said.
"Apart from discounts, which are about Rs 17,000 on an average, exchange offers and customers advancing purchases ahead of January is boosting our December sales," Pareek said.
On the demand for diesel passenger vehicles, he said for the industry overall share has come down to 54 per cent this fiscal as compared to 58 per cent.
Bhargava said that the company's R&D centre at Rohtak is on track to be completed by 2016. It would be Suzuki's fourth such facility, the rest three being in Japan.
Commenting on the LCV project, Bhargava said the company is sticking to its 2016 launch plan. He said the vehicle could come in various options, including CNG and petrol.