Don't worry over Rs 1 lakh car: Khattar at AGM

Assuring its shareholders that the Rs 1 lakh car from Tatas would not be a competition to it, country's largest carmaker Maruti Udyog today said it would stick to its own strategy than reacting to competitors' plans.

Responding to queries from shareholders about MUL's plans in the wake of expected competition from Tata's Rs one lakh car at the annual general meeting today, managing director Jagdish Khattar said the company would continue to focus on its own plans.

"Every company has their own strategy and if we keep on reacting to them, our own strategy will fail," he said, adding the small car from Tata was more of a threat to two-wheelers.

"We kept on saying in the past, and now even, that foreign analysts are saying the Rs 1 lakh car will be more of a competition to motorcycle makers. Two wheeler customers, who cannot afford our products, would be attracted to the small car," Khattar said.

Adding in a lighter vein, Khattar said: "If you are a two-wheeler shareholder as well, please examine."

The AGM approved the change of the company's name to Maruti Suzuki India, which will come into effect after it is approved by the Registrar of Companies.