Bangalore, March 15: India's largest auto maker, Maruti Udyog Limited (MUL), has recorded a growth of 8.3 per cent in the current fiscal year over previous year figures, and was implementing an expansion plan to increase its production capacity by 1 lakh to 4.5 lakh, according to R S S L N Bhaskarudu, managing director.The expansion will be completed by February next year. Rs 1,500 crore is being spent under the plan. The company is expecting sales of 3.5 lakh vehicles in the current financial year, he told reporters. He said the company was gearing up to maintain its top position in the passenger car segment in view of the competition from new entrants.Bhaskarudu virtually ruled out any cut in prices, saying, "It's well-priced and competitive." He said Maruti was aware of the competition and would meet the challenge posed by new players in the car market by moving closer to the customer. However, when asked to outline Maruti's strategy, he refused to divulge any plans. He said Maruti had achievedwhatever it planned to in the current financial year. "I do not know what they are doing," he said on the new players in the car market. Bhaskaradu was of the opinion the luxury car market in India was shrinking.Earlier, speaking after inaugurating a new Maruti showroom here, Bhaskarudu said MUL would work hard to improve its products and incorporate better features. The company, he said, also had plans to improve service network. He said South India accounted for 20 to 25 per cent of MUL's market share and Karnataka one third of it. MUL director (marketing and sales) K Senga said the company was exporting its products to 80 countries and 75 per cent of them to Europe.He declined to comment on the recent statements of Samata party leader George Fernandes regarding Maruti and its row with Suzuki Corporation.
