Monday Nov 25, 2024
Monday Nov 25, 2024
Friday, 5 February 2016 00:00 - - {{hitsCtrl.values.hits}}
Reuters: Leading automobile company Maruti Suzuki said on Wednesday (3 February) it will launch 15 new models in India by 2020 to cement its stronghold in the country and increase its market share.
Maruti Suzuki launched its new compact SUV car Vitara Brezza on the opening day of the show.
It will hit the roads in March and will be a competition to Ford’s EcoSport and Mahindra’s TUV300.
Vitara Brezza is also the first product from the Maruti stable that has been completely developed by Maruti in India.
Maruti Suzuki India Ltd. Managing Director and Chief Executive Officer (CEO) Kenichi Ayukawa said India is one of the important markets for the car maker.
“We will launch 15 new models by 2020 and offer the latest technology in line with the best in the world,” said Kenichi.
Maruti is India’s top-selling carmaker, with nearly 50% of the passenger vehicle market, but it faces growing competition from the likes of Hyundai and Honda.
US carmaker General Motors also unveiled two new models – Beat Active and Essentia – at its pavilion on the first day of the auto show.
The compact sedan Chevrolet Essentia will hit the roads in India in 2017. It could be priced relatively less compared to its rivals.
General Motors India President and Managing Director, Kaher Kazem, said they were heading into a new era with new generation products that will catapult Chevrolet brand in India.
“The Chevrolet Essentia, it is expected to go into production in our plant in 2017. Essentia represents the compelling proposal in its segment. We plan to offer it here in India in a five goal version and export its market around the world,” said Kazem.
GM will also launch its new multipurpose vehicle, Chevrolet Spin in 2017.
General Motors last year said they would invest $ 1 billion over the next few years to turn India into a global export hub, even as it cuts production capacity in the country due to sluggish demand.
GM had said it will launch 10 new domestically manufactured vehicles in India over the next five years in a push to double its market share by 2020.
India is also becoming a low-cost export hub for global car makers such as General Motors, and is set to become the world’s third-largest auto market by 2020 as millions buy their first new car.
