Maruti firm on double-digit growth target in FY'17

Maruti Suzuki India Ltd (MSIL) on Thursday said its double digit growth target remains on track for the current fiscal despite production losses of 30,000 units in June owing to fire in one of its key vendor facilities at Manesar.

"Whatever losses we had we will make up in the next few months as our production engineers are working on how to increase the production," MSIL Executive Director R S Kalsi said here on Thursday on the sidelines of the launch of new platinum rated showroom of 'One Auto' in Kolkata.

The production loss is about 30,000 units for the company as the overall impact was almost for four weeks in the plant.

Waiting period for Vitara Brezza and Baleno has increased to 5-7 months as waitlist for the cars has surpassed one lakh units.

Apart from the Manesar and Gurgoan production facilities of Maruti, the company is coming up with the 2.5 lakh capacity third plant in Gujarat.

"The trial run would begin in the period of January-March 2017 and commercial production from the next quarter," Kalsi said.

However, Kalsi was not sure whether the new plant would help bring down the waiting period of its fast selling cars as it would depend on lot of other factors.

The top company official did not disclose the models to be manufactured in the new plant.

MSIL had registered a growth of 6.4 per cent in retail sales in April-June period of this financial year.

Speaking about diesel ban impact, Maruti said so far it was not hit directly.

Asked whether Brexit had any impact on exports, Kalsi said there was no impact on that account as exports to the UK is very less. The company exports 10 per cent of its total production.

'One Auto' director Soham Misra said it was their second showroom in city.