auto news desk, Maruti Suzuki, the country’s largest carmaker in terms of cars sold locally in India, plans to produce a record 2.2 million passenger cars, utility vehicles and SUVs in the current financial year. The company is working towards increasing its production capacity in an effort to capture the fast-growing SUV market in the country and give tough competition to its other rivals. In the last financial year also, the company has partnered with supplier partners to fulfill its plans.
will increase by 12%
The increasing customer enthusiasm for the new models and the good market response have led to an increase in pre-orders for the company, which has required the company to ramp up production to meet it. According to the company’s plan, a target has been set to increase the production rate by about 12 percent in the current financial year. If the company is able to meet this target, it will be the third consecutive year of double digit production growth for the company.
As per the Economic Times report, Maruti plans to produce 2.1 million units in FY 2023-24, as against 1.96 million units in the previous year. It has exported 279,000 units. This will help the company achieve its target of twice the industry average volume growth.
What did the company say?
Shashank Srivastava, senior executive officer, sales and marketing, Maruti declined to comment on the company’s production target at the moment but reiterated that the company expects to outperform the industry.