Maruti targets 3 million annual sales post 2020

Goa: Country's largest car maker Maruti Suzuki India (MSI) is eyeing sales in the range of 2.5 million units to 3 million units per annum post 2020.

The company, which sold 1.56 million units last fiscal, expects to achieve the target on the back of favourable economy and government policies.

"In volume terms we are planning to touch 2 million units by 2020. Right now lot of parameters look positive unless something disruptive comes. So on that pace, now we are also focusing towards 2.5 million and 3 million units sales," MSI Executive Director and Sales R S Kalsi told PTI.

When asked about the timeframe to achieve sales of 2.5 million units, Kalsi said: "Two million units by 2020 we are very clear ... Then another three years, let's see how market, economy will grow. In what direction government policies are moving? So, it will all depend on these factors."

He said the company is planning its production capacities according to the sales target. "We are planning our resources in that direction, network in that direction."

MSI has reached peak capacity at its Gurgaon and Manesar plants and the focus now would be to expand Suzuki-owned facility in Gujarat.

"We are planning three lines of 2.5 lakh units each taking the capacity to 7.5 lakh units per annum. Manesar and Gurgaon are currently at 15.8 lakh. So, we are already well prepared for 23 lakh capacity," Kalsi said.

Beyond that the company will again have a relook at the management of capacities, he added.

The Gujarat plant has scope for further expansion, Kalsi added.

- Targets double-digit growth in FY18 -

Maruti Suzuki India is looking at double digit growth during the current fiscal, Kalsi said.

"From our perspective, target is to grow by 10 percent plus or double digit growth. Industry forecast is that it will grow in the range of 7-9 percent. So, certainly we will gain market share this year as well," Kalsi said.

MSI closed 2016-17 fiscal with a market share of over 47 percent.

"This year has started on a positive note. We attained a market share of 51 percent in April," Kalsi said.