Maruti closes in on 1 mn mark

Carmaker to raise output to 9,60,000 units in 2009-10.

Japanese auto maker Suzuki Motor Corporation today said it aimed to raise the capacity at its Indian unit, Maruti Udyog, to 9,60,000 in 2009-10 from 6,30,000 this year.

Maruti had earlier announced the setting up of a new plant with an initial capacity of 1,00,000 a year, which could be scaled up to 2,50,000 a year, raising the eventual capacity to 8,80,000.

However, the Indian car market leader is known to harbour ambitions of a million in capacity by 2010.

The expansion in the country is part of a global drive by Suzuki that includes a new ¥60 billion ($520 million) plant in Japan for small cars, to start operating in 2008 with an annual capacity of 2,40,000 units. The company is looking to cash in on a global shift to fuel-efficiency amid record high oil prices.

The car maker, ranked fourth behind local rivals Toyota Motor, Honda Motor and Nissan Motor, also said at a briefing that it aimed for group revenue of 3 trillion yen in the year to next March, up 7 per cent from its previous forecast and in line with analysts' estimates.

It said it targeted global output of 3 million units in the business year starting in April 2009, of which domestic output would account for 1.24 million units and overseas 1.76 million.

It plans to boost the capacity of its car plant in Hungary to 3,00,000 units a year in 2008-09 from 1,60,000 this year and its Pakistan unit's capacity to 1,70,000 in 2009-10 from 1,10,000 now.