As we reported earlier, India’s leading auto maker, MSI has structured a plan to increase its annual sales to 3 million cars. To achieve the target of selling 3 million vehicles in a year, the company plans to launch new products in domestic market.
According to latest report, MSI is contemplating doubling its product portfolio in India to 25. Officials at MSI have also confirmed launch of new models in upcoming time. MSI currently has a dozen models in its product range, however in order to double its annual sales, the company would need to offer more products. The first new car to be launched in India is mid-sized saloon Ciaz slated to go on sale in September.
Coming out of its comfort zone, MSI will also foray into new segments like compact SUV segment where its absence is conspicuous. A new SUV rivalling Renault Duster expected to be rolled out in 2015. Yet another compact SUV is also in the making that could be spawned in 2016. The compact SUV will compete with current popular Ford EcoSport. Both the SUVs will be made available in petrol, diesel and CNG variants.
The company also intends to expand its presence in LCV segment, a LCV is being developed by the company and MSI is also working towards building a segregate network for LCVs. MSI’s current product range comprise of hatchbacks primarily, other popular models include Ertiga MPV and Maruti Swift Dzire compact sedan.
Though there are other models too on offer but they do not garner substantial bookings, hence their contribution towards monthly sales is bleak. Market condition has improved a tad in last few months, therefore the company is hopeful that sales will increase in coming time.
Maruti Suzuki India sold 1.16 million cars in last financial year that ended on March 31, 2014. Yet another manufacturing unit is coming up in Gujarat that will aid towards increased production.
