Maruti Hikes Export Target For 2002-03 By Over 50%

New Delhi, Aug 25: | Updated: Aug 26 2002, 05:30am hrs
Buoyed by the success of its premium small car Alto VX in the overseas market, Indias largest car-maker Maruti Udyog (MUL) has scaled up its export target by over 50 per cent for this fiscal, a company official said.

We are targeting an increase of more than 50 per cent in exports this year due to the success of Alto, abroad. Another important point is that the Maruti 800 has been lapped up in the market of Bangladesh, MUL managing director Jagdish Khattar said.

During the first quarter this year, MUL posted a rise of 41.7 per cent in exports to 3,377 units against 2,382 units shipped during April-June 2001-02. The company has got confirmed orders for Alto from new markets like Germany, Netherland and Italy, he said adding that we are targeting to sell 20,000 Alto cars in the foreign markets this year.

Apart from the success of Alto, a major boost has come from the increasing sales of Maruti 800 in Bangladesh, he said. Asked about the declining sales of its compact cars like Zen, he said market conditions are not good. Therefore, there are certain aberrations and Marutis performance will improve in the B segment during the next three months. He said after the price cut on Maruti 800, there has been a waiting-list for the car, reinforcing the point that the entry-level segment could not be ignored and would definitely bounce back in the near future. MUL started shipping 16,000 Alto cars worth about $80 million to western Europe from March this year. The car meant for foreign markets sports additional features like anti-lock braking system and airbags in accordance with European safety regulations.