Maruti Suzuki plans to take it slow in Gujarat
Last Updated at
- 04:11 pm, January 18, 2012
Slow market growth reason for cautious expansion.
Maruti Suzuki had announced that it will be building a new facility in Gujarat, and it created a lot of excitement because it meant a great leap in numbers, especially for export.
The very slow growth of the car market in 2011 is to blame for India's leading car manufacturer's caution. Physical work to set up the plant will not happen anytime soon, and the target set is 1.8 million annual sales, not a specific timeline to be adhered to. Present trends suggest that this figure will be achieved in 2015-16, so work on the facility will begin only sometime next year.
Maruti Suzuki had cleared a proposal to set up a new facility in Mehsana district, Gujarat, last October. It will invest Rs 18000 crore in the new facility.
First Published on 04:11 pm, January 18, 2012
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