Maruti plans new model for Europe

Maruti Udyog is gearing up to change its declining fortunes in exports with the launch of a new model for Europe by 2008-09.

"We will introduce a new model for the European market by 2008-09," Jagdish Khattar, managing director and CEO, Maruti Udyog, said today.

He said the company was looking at exporting about one lakh units of the to-be-launched car, which will mark its re-entry in Europe. The company was confident of having total exports of two lakh units by 2008-09, he added.

Maruti's decline in exports was primarily due to its decision to stop shipping to Europe in June 2005. "We had stopped exporting to Europe as we needed to focus on the domestic market," he said, adding whatever numbers MUL currently achieved were all exports to non-European countries.

Khattar said the company was hopeful of touching exports of around 38,000-40,000 units this year. "Next year, we are confident exports will be over 50,000 units," he added.