- 1 hr ago Kawasaki Bike Prices Hiked For The Third Time This Year: Model-Wise New Vs Old Price List
- 2 hrs ago Bugatti Divo Production Ends — 40th Unit Of The Hypercar Rolls Off The Production Line
- 3 hrs ago Honda Amaze Facelift India Launch On August 17: Expected Price, Changes, New Features & More
- 18 hrs ago Volkswagen Taigun India Launch Timeline Confirmed: Expected Price, Two Engine Options Available
- Movies Dwayne Johnson Confirms He Won't Return To Fast & Furious Franchise Amid Feud With Vin Diesel
- News Bank holiday 2021: Banks to remain shut on these days , know the dates
- Technology Is Flying To Space The Coolest Thing Humans Have Ever Done?
- Sports Tokyo Olympics: Sumit Nagal beats Denis Istomin in three-sets in opening round match
- Education Want To Become A Tattoo Artist? Check Out Skills Required And Career Opportunities
- Finance 4 Stocks That Broking Firms Are Bullish And Have A "Buy" Rating
- Lifestyle Vitamin E Deficiency: Causes, Symptoms, Complications, Diagnosis And Treatments
- Travel 10 Best Places To Visit In Uttar Pradesh In August
Maruti Suzuki had earlier decided to build a new car plant in Gujarat and invest over Rs.4,000 crores in to the plant. The decision was made at a time when the carmaker was under severe pressure due to the strikes at Manesar. With demand for some of its models waning and sales declining even during the usually hot festive season, Maruti Suzuki has realised it cannot make huge investments.
RC Bharagava, chairman of Maruti Suzuki has stated that the carmaker was looking at its long term investments and may have to delay some of the investments by six months to one year. Maruti Suzuki is still in the process of acquiring lands needed for the plant. He also added construction of the new plant will not be started immediately. He also said the construction will begin only after two to three years.
He said: “Land acquisition process is on and we hope it will be concluded in this month. I don't think we will start work on it for some years from now at least two to three years. We should see the market situation. We will need Gujarat plant when the Manesar plant capacity is fully utilised. So, that depends on how the market grows. So, I can't give a date on this."
The strike at Manesar has had a lasting impact on Maruti Suzuki. The losses it suffered during the strikes and the following slide in sales has meant its finances are not as healthy as it previously was. Its sales have dropped more than the industry average and it needs to recoup its position. Despite the delay in its Gujarat plans, Maruti Suzuki is keen to complete its ongoing projects in Manesar. It will soon complete the third unit in Manesar that will take its annual production capacity to 1.7 million units.