India automaker Maruti unveils new model in effort to lift sales
October 18, 2012, 11:37 am TWN
NEW DELHI -- India's biggest automaker Maruti Suzuki on Tuesday slashed its sales growth target to 3 to 5 percent for this year while unveiling a fresh design of its top-selling car to fight stiff competition.
Maruti, controlled by Japan's Suzuki Corp, priced the low-end more fuel-efficient new version of its popular Alto hatchback at 244,000 rupees (US$4,600).
"We are expecting (domestic car) sales to grow 3 to 5 percent this fiscal (year)," Maruti Suzuki India chief executive Shinzo Nakanishi told reporters at the launch of the new-look Alto in New Delhi.