Slowdown signs - Maruti Suzuki has no plans to cut production
Zee News reported that Maruti Suzuki India Limited has no plans to cut production despite the challenging market conditions and would go ahead with its expansion plans in the months ahead.
Mr Shinzo Nakanishi MD & CEO of Maruti Suzuki India Limited said that "We are not seeking any production cut and have no plans to change production schedule in January. The sales have gone up in December, 2008 as compared to the previous month owing to excise cut and reduction in petrol prices."
Mr Nakanishi said that the company has plans to expand its production capacity of its Manesar plant in Haryana to 300,000 units by end January. He said that "Our car manufacturing capacity at Manesar will reach 300,000 units this month from 170,000 in January 2007."
Commenting on the CAPEX plans, Mr Nakanishi said that "We have committed an investment of INR 9,000 crore, of which we have already invested INR 6,000 crore to fuel the business growth."
A company official said that the company proposes to invest INR 2,500 crore in increasing diesel engine capacity from 100,000 to 300,000 units.
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