Maruti Suzuki has set an ambitious first-year export target of 1 lakh units of A-Star, which is still under development at its Manesar plant.
Targets export of 1 lakh units in 2009
HYDERABAD: Cashing in on the rising fuel prices and increasing concerns on carbon dioxide emissions in Europe, Maruti Suzuki has set an ambitious first-year export target of 1 lakh units of A-Star, which is still under development at its Manesar plant.
This is in addition to the 50,000 units that are likely to be sold under the Nissan brand in Europe, company officials told DNA Money.
The new car, which is set to be launched in 2009, will be the first indigenously designed, styled and produced Indian car with Europe as the primary target.
A team of 10 engineers has worked on the design for the A-Star which is slated to be unveiled at the next Auto Expo 2008 in New Delhi.
But the production car that will be exported to Europe will be considerably different from the one being showcased, Maruti officials said.
The A-Star is be the first of the rollouts from Maruti in the compact car segment to establish India as a global hub after parent Suzuki motor decided to source them from Maruti for export to other countries.
India is among the three largest manufacturers of compact cars along with Japan and Brazil, beating seven other European manufacturers who are into the segment.
The A-Star will be targeted at the entry-level market across Europe which means Maruti will be taking a shot at the volume market.
It is a route similar to the one Maruti has taken in the emerging markets by enlarging the pure entry level segment of Alto, Maruti 800 and Estilo.
Maruti has established new markets in 2006-07 across Asia, Middle East & Africa, with Sri Lanka, Algeria, Chile, Egypt and Saudi Arabia figuring as its biggest markets.
It exported 39,295 units to over 45 countries in 2006-07 and is expecting to close the current year (2007-08) at 50,000 units.
However, 2009-10 will be the leap year for Maruti with the launch of A-Star with the total export numbers cross the 2 lakh units watermark.
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