Maruti Udyog Ltd is gearing up to change its declining fortunes in exports with the launch of a new model for Europe by 2008-09.
"We will introduce a new model by 2008-09 for European market," Maruti Udyog Managing Director and CEO Jagdish Khattar told reporters in New Delhi.
He said the company was looking at exporting about one lakh units of the to-be-launched car, which will mark its re-entry to Europe.
By 2008-09, the company was confident of having a total export figures of 200,000 units, he said. Asked if the company planned to introduce the model in the domestic market as well, Khattar said it would, but the priority would be on exports.
MUL's current decline in exports was primarily due to its decision to stop shipping to Europe in June 2005.
"We had stopped exporting to Europe as we needed to focus on the domestic market," he said, adding whatever numbers MUL currently achieved were all exports to non-European countries.
This year the company was hopeful of touching exports of around 38,000-40,000 units, Khattar said. "Next year, we are confident exports will be over 50,000 units," he added.
With the proposed new car and committed supply of 50,000 units to Nissan along with non-Europe exports, MUL is confident that its exports will touch 200,000 units by 2008-09, Khattar said.
