News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

Home  » Business » Maruti to replace Esteem with new model

Maruti to replace Esteem with new model

Source: PTI
July 23, 2003 19:34 IST
Get Rediff News in your Inbox:

Suzuki Motor Corp, Japan's largest minicar maker, said its Indian unit will release a new model as early as next year to boost sales and increase its market share.

The new model, which will have an engine of between 1.3 litres and 1.6 litres, will replace the mid-size car 'Esteem', said Shinzo Nakanishi, managing director (overseas marketing for automobiles) at a press gathering in Hamamatsu city, southwest of Tokyo, Bloomberg reported.

The Maruti Saga: Complete Coverage
Maruti Q1 net zooms 971%

The car will be built in India by Maruti Udyog Ltd, the nation's biggest carmaker by sales, he said.

Suzuki is focusing on sales overseas as demand in the mini car market in Japan starts to slow. The company took a controlling stake in Maruti last year and wants to introduce new models to expand its presence in the market.

Separately, Suzuki president Hiroshi Tsuda said first-half profit "is on track" even though domestic compact car sales aren't as good as expected.

Suzuki forecasts 2003 car production to rise two per cent to 1.83 million units this year as the company sells more cars in Asian countries such as China and India and expands in Europe and the US.
Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!