Thursday, Apr 17, 2003
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By Our Special Correspondent
The new 2700 cc variant has been priced at Rs.15.96 lakhs for the standard version and Rs.16.77 lakhs (both prices ex-showroom Delhi) for the limited edition variant, announced the Maruti Managing Director, Jagdish Khattar, at the launch function. Elaborating further, he said the Grand Vitara XL-7 would be imported as a completely-built-unit from its parent company, Japan's Suzuki Motor Corporation in limited numbers. The Grand Vitara XL-7 would not be displayed at Maruti showrooms and potential customers would be instead invited to test-drive the vehicle. "It is a new market being developed. We have imported two consignments of 25 units each during the last two months. The response has been overwhelming,'' he said adding the vehicle, equipped to deliver 154 brake horse power, was the first model being launched by Maruti after Suzuki took over management control of the company in May 2002. Answering questions, he said this year (2003-04) should be much better than last year. The focus would be on improving the overall market share he said but refused to divulge any information on any sales targets fixed for the current financial year. It is pertinent that car sales of Maruti, the country's largest carmaker, remained flat at 2.75 lakh units during 2002-03 while the domestic car industry grew by 6.4 per cent to 5.41 lakh units. Overall, the company's domestic passenger vehicle sales fell by 2.5 per cent to 3.27 lakh units during fiscal 2003. The company's market share had come down to 50 per cent during April-July 2002, a fall of 20 per cent. It then rose to 56 per cent in the remaining eight months of the fiscal, a gain of 6 per cent, Mr. Khattar said. Attributing the rebound in sales in the later part of the fiscal to revision of prices of the bread-and-butter model Maruti 800 and certain premium small cars, he said "strategic pricing'' in some States and revamping of the dealer network like opening of 17 new showrooms and closing some too helped improve sales. He said there was a constant pressure on costs but the company would now look at the problems due to the ongoing truckers strike before taking any decision on hiking vehicle prices. It might have to shut down production if the supplies of parts to it were affected, he added.
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