Maruti Suzuki envisages 2.5 lakh unit sales annually

Maruti Suzuki country’s largest passenger car manufacturer plans to sell 2.5 million units annually by 2022-23 and 5 million units by end of 2028. The company provided a bullish outlook for the passenger vehicle segment for the long term.

The company also posted highest ever sales growth in the month of April at 1.65 lakh units, capturing 55 per cent market share in the country. Robust urban demand and strong rural recovery were the key factors for the revival of sales after the economy faced the jolts of demonetisation and GST implementation.

The company is already closed to its target of 2 lakh units by 2020. As of March 2018, it has sold 1.7 lakh units including exports. To achieve the desired target company plans to invest Rs. 1,000 crore for acquisition of the land. The Suzuki Motor Company also envisages to invest almost Rs. 20,000 crore in the coming years for the development of new plants, new generation of cars, sales and marketing and infrastructure.

The stock of Maruti Suzuki closed positive, up by 0.35 per cent at Rs. 8378 per share on Friday.