Maruti Suzuki exudes upbeat outlook, targets 2 million cars per year

Amid all the uncertainties revolving around diesel vehicles, Maruti Suzuki claimed it would achieve double-digit expansion in annual sales by 2020.

The carmaker told its component suppliers to make future investments as Maruti Suzuki said its requirements are expected to grow.

Maruti Suzuki exuded confidence and displayed an upbeat outlook. It is also confident of a compounded annual growth rate of 10% until 2020.

A vendor who supplies to multiple auto makers told ET that while there is a word of caution from other major car makers over growth forecast, Maruti appears certain about the future and is encouraging its vendors to expand capacity and set up new plants where required. "Amid all the uncertainties, the outlook was optimistic from the management. The tone was go ahead and invest, we will meet the targets, the pipeline is of 10-15 products, we are expanding network and the brand is strong," another vendor who attended the meeting told ET.

Suzuki is likely to rake in another Rs 2,500 crore in India manufacturing by 2018-19 and also increase the production of Vitara Brezza and Baleno.

Both these vehicles have long waiting periods of around three-eight months.