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Maruti Suzuki has big plans for the Indian market over the next two years. The company is planning to introduce close to 12 new products, expand to new facilities and dealership networks and work with Toyota as part of their partnership.
Maruti has been going through a slow growth rate over the past five years. The company hopes that their new plans will help boost the company sales in the market. Maruti has just completed the construction of its new plant in Gurugram, with production having already begun.
According to an ET Auto source, "One of the big reasons behind slowing growth in 2018 was the lack of major product action from the company. With the aggressive product line-up for the coming 18-24 months, Maruti will again take the lead in driving growth and excitement in the market."
Maruti is also said to be investing around Rs 13,000 to Rs 14,000 crore to expand its product lineup, technology and plant capacity over the next two years. This will include 10 to 12 product launches (both new models and facelifts) over the next 18 to 24 months.
The new product launches will start immediately, with its first launch being the new Wagon R hatchback. Other products will also include the new generation Celerio, the Future S Concept (codenamed 'Y1K') and the electric Wagon R.
Apart from these new launches, Maruti will also bring in certain tweaks and upgrades to some its other models, such as the Alto, Ignis and Eeco to make it compliant with all the upcoming safety and emission norms in 2019 and 2020.
Maruti has also announced a facelift for its popular Baleno and Vitara Brezza offerings in India. The company has already commenced bookings for the Baleno facelift while the Vitara Brezza has been spied testing on a few occasions. A petrol version of the Vitara Brezza is also expected to be introduced at some point. Maruti will also bring in a brand new SUV in the market, placed above the Vitara Brezza model.
Apart from their own new models in the market, Maruti Suzuki will also launch their version of the Toyota Corolla Altis. This is part of their agreement with Toyota India, which will see Maruti providing the Baleno and the Vitara Brezza, in return for the Corolla Altis sedan. Toyota is already ready to launch their version of the Baleno during the next fiscal year.
Maruti and Toyota are also jointly working on developing battery technology for the future EVs. Maruti is already constructing its lithium-ion battery plant, which will supply batteries to its upcoming electric Wagon R scheduled to launch in 2020.
Thoughts On The Maruti Suzuki India Plans For The Next Two Years.
Maruti has been one of the most popular brands in the Indian market, for decades. The company hold 50 per cent of the market share in India, which has seen a slight slump over the past few years. The new launches and the expansion plans over the next two years will hopefully put Maruti back on track. The company hopes to grow at 6 to 8 per cent rate in 2019 alone.