Maruti has stopped production of its multi-utility vehicle (MUV) Versa and will launch a new van that will be displayed at the Auto Expo this year. Versa, since it was launched in 2001, sold about 20,000 units. The new product is expected to be priced under Rs 3 lakh.
The Maruti Suzuki board has also decided to meet in January to mull fresh investment.
India's largest car manufacturer said it may achieve a production of 1 million unit per year by March. "A new production line is likely to be set up at the Manesar unit, which will have a capacity of 3 lakh units per year," it said.
In October, the company had reported sales of 85,415 units, a jump of 32.45% compared to the same period last year. Domestic sales were up 21% to 7,155.
Maruti has stopped production of its multi-utility vehicle (MUV) Versa and will launch a new van that will be displayed at the Auto Expo this year. Versa, since it was launched in 2001, sold about 20,000 units. The new product is expected to be priced under Rs 3 lakh.
