Country’s largest carmaker Maruti Suzuki plans to invest around Rs 4,000 crore in the next fiscal on various activities such as the introduction of new models, marketing and R&D.
The company’s board, which met on Saturday, approved the investment for the next fiscal besides coming out with new proposals for the proposed manufacturing facility in Gujarat.
“Board approved capex for 2014-15 will be around Rs 4,000 crore. The investments would be mainly for new models, marketing infrastructure and R&D,” a company spokesperson said.
The company, which had launched hatchback Celerio at the Auto Expo last month, showcased two concept cars - SX4 S-Cross and Ciaz during the show.
It is understood that the SX4 S-Cross may hit the Indian market later this year.
The company is also in the developmental stage of a compact sports utility vehicle that is likely to be launched early next year.
Besides, it has also been strengthening its research and development centre at Rohtak in Haryana, where it is building a test track as well at the facility that is spread over 600 acres. It is enhancing the capability of the centre in order to launch new models in the market faster.
For the ongoing fiscal, ending March 31, the company’s capex is around Rs 3,000 crore.
Amid increasing competition and a sluggish market, MSIL has been focusing on strengthening its leadership position by focusing on rural areas and niche segment to boost sales.
The company registered 1.8 per cent increase in its domestic sales in February at 99,758 units as against 97,955 units in the same month last year.