Date:28/04/2005 URL: http://www.thehindu.com/2005/04/28/stories/2005042804191700.htm

Business

Maruti rolls out five millionth car

Staff Reporter

May hike prices of all models next month

NEW DELHI: Maruti Udyog Ltd. may hike the prices of its vehicles from next month due to increase in input costs.

Rolling out the five millionth Maruti car from its factory at Gurgaon, a day before the Japanese Prime Minister, Jonichiro Koizumi's visit to India, the company's Managing Director, Jagdish Khattar, told presspersons on Wednesday that the hike was likely to be on all models.

Mr. Khattar termed the occasion as a milestone not just for Maruti but also for India and the manufacturing industry. "The original Maruti vision of providing a people's car, articulated over two decades ago, has helped transform the Indian manufacturing landscape and touched the lives of millions of Indians," he said.

The first Maruti vehicle, a Maruti 800, was rolled out on December 14, 1983. The first million was reached in March 1994 while the second million was completed in October 1997. The three millionth vehicle was rolled out in June 2000 while the four millionth vehicle was manufactured in April 2003, the last million being the fastest, coming in just two years.

Suzuki Motor Corp holds 54.2 per cent stake in Maruti Udyog.

Recently, Maruti-Suzuki outlined an investment plan of Rs. 3,272 crores for setting up a manufacturing plant in India besides an engine and transmission facility at Manesar in Haryana.