The largest car manufacturers of India, Maruti Suzuki, are expanding its global dimensions and have started exploring newer markets across the world. This move is aimed at countering the reduction in demand of cars in the Indian market. A Board Member of MSI, Mr. Bhargava, quoted recently that the company was not very hopeful of generating growth in their sales numbers in the current financial year and said that the company would be more than happy in just achieving a break even number.
Sales of Maruti cars in India have been primarily affected by the often rising fuel prices as well as the higher interest rates. To add to this, problems cropped up in the company’s manufacturing facility at Manesar; to compound the problems that they are facing. MSI has taken the decision to explore newer automobile markets across the globe and this move is expected to take place pretty soon. Some newer models that the company has planned out are also going to be launched in the Indian markets. It is expected that the newer models will come with engines compatible to CNG and LPG fuel.
The sales figure of the company has also taken a hit due to a number of competitive brands having emerged. Every major auto manufacturer in the Indian market has come up with at least one offering in the segment of small cars, thereby making it tough for Maruti Suzuki India to even hold on to their market share. The recently launched Eon from Hyundai is expected to offer stiff competition to the best selling Indian vehicle, the Maruti Suzuki Alto.
