Maruti Suzuki expects 10% growth in 2010; unveils concept MPV

On an annualised basis, Maruti Suzuki has grown about 9.5%-10% over the last two years and expects the same rate of growth in calendar year 2010

The country's largest carmaker, Maruti Suzuki India Ltd, on Tuesday said that it expects sales to grow around 10% in 2010, reports PTI. The company also said that it will bring premium sedans based on the concept Kizashi by the end of 2010 into India.

"In 2009, our sales grew by about 22% compared with 2008. But since 2008 was a bad year, if we look back and compare (our performance) with the growth two years ago, we have grown by just about 19%," Maruti Suzuki India's managing director Shinzo Nakanishi told reporters at the Auto Expo in New Delhi.

"So, on an annualised basis, we have grown about 9.5%-10% in the last two years. We expect the same rate of growth in the calendar year 2010," he added.

The company today unveiled a small multi-purpose concept vehicle (MPV) 'rIII', as it looks to create a new segment.

“There is room for creating a new segment in the small MPV and that is what we aim to do,” Mr Nakanishi said. The concept vehicle has been developed by Maruti Suzuki at its research and development centre.

Mr Nakanishi also said that towards the end of this year, the company would be launching the Kizashi sedan in India. The sedan has already been launched in Japan. The company is still deciding whether to import the sedans or assemble them in India.

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