Maruti has lined up three launches in the next two years. Maruti will also launch a model targeted at the export market (largely Europe) by 2008-09, reports Economic Times.
Although the C segment constitutes around 15-18% of the Indian car market and has been growing at over 10% CAGR, India`s largest passenger vehicle manufacturer Maruti`s presence in the segment has been limited to 17%-18% of the marketshare.
The company sold 31,939 units of Esteem and Baleno in 2005-06 and 29,637 units in 2004-05, a 7.8% growth rate. C-segment sales for others like Honda Siel, Hyundai Motors and Ford India grew 14.9%, 32.2% and 8.9% respectively.
Earlier this year, at the Auto Expo in New Delhi, Maruti said it will invest Rs 2,718 crore at its plant by `08 and launch five models, including a diesel car, in the next five years. This investment is apart from the Rs 3,270 crore that Maruti and Suzuki will invest to set up a new car factory and an engine plant.
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