Maruti projects high growth for auto industry

India's largest car manufacturer, Maruti Suzuki India, is expecting that the automobile industry will grow much faster than previously projected rate by SIAM. According to the company the auto industry will be selling around 4.55-4.6 million cars in India by 2015, which is currently selling less then than 2 million cars per year.

As the major car manufactures of the world including Toyota, Volkswagen and Nissan investing heavily on their operations in India it will be very tough for Maruti Suzuki to maintain its market share of about 54%. Recently many small cars have been launched in Indian market including Chevrolet Beat, Ford Figo, Volkswagen Polo and Maruti Eeco. With this, much awaited cars like Toyota Etios, Nissan Micra and Skoda Yeti and Tata Aria will also be launched in India in coming months.

According to Mayank Pareek, executive officer, marketing and sales, Maruti Suzuki India Ltd, the industry is on the verge of attaining the critical mass, which is required for the jump to the next level. He added that looking at the demographics, the company will surpass the previously projected 3 million sales figure by a good margin (for 2015). He also added that the company believes that sales of the company can go upto 4.55-4.6 million.

Maruti India is currently undisputed king of the automobile industry in the country with selling some of the most popular cars in India, including small cars like Maruti Alto and Wagon R, hatchbacks like Maruti Swift, Ritz, A-star and Zen Estilo, and sedans like Maruti Swift Dzire and SX4. Besides this the company is also in the process of launching a new small car in India by year 2012, which will be manufactured by its self-sufficient R&D department.