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Maruti's Swift to vroom down Indian roads soon
Publish Date : 5/29/2005 1:52:00 PM   Source : Business News ExpressNewsline.com

Automobile major Maruti Udyog, which received a booking of 10,000 cars since the Wednesday launch of its stylish new model "Swift", will begin delivery June 6 and plans to "reposition" itself in terms of marketing.

"Going by the pricing and the segment at which it is aimed, a booking of 10,000 in such a short time is not a small thing. We hope to manufacture 200 cars in a day," claimed Maruti Udyog director (marketing and sales) Kinji Saito here Saturday.

"We will start delivering the cars from June 6 onwards," he said, after launching the car in Kolkata.

The total investment for Swift involved Rs.2.5 billion in the car and Rs.1.9 billion in vendors, Saito said.

"Swift represents a new philosophy and fresh thinking at Suzuki Motor Corp (Japan). It is targeted at Indian customers who value the traditional Maruti attributes of fuel efficiency, reliability and performance, but also desire contemporary looks and attitude in the vehicle.

"Maruti is also repositioning itself in terms of marketing and it is changing its product portfolio. Since the launch of the first Maruti car in the 80s, the market has changed. It has become mature and competitive and so we want to offer something more exciting to the customers," he said.

Saito clarified that Maruti has no intention to phase out any model since all its models have a steady market. "We hold a market share of 55 percent in India."

Suzuki Motor now holds 54 percent shares in Maruti Udyog, while the Indian government's share is 18 percent. The rest is held by the public.  

Swift, which comes in three models - Lxi (Rs.387,000), VXi (Rs.405,000) and Zxi (Rs.485,000), boasts of a higher ground clearance, more headroom in the rear and robust suspension.

The key technology of the car is the Controller Area Network (CAN) that enables the onboard computers to "communicate" with each other.





Indo-Australia committed to resolve agri-trade issues         Publish Date : 3/3/2007 7:21:00 AM  
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.

RBI to absorb more liquidity to contain inflation         Publish Date : 3/3/2007 7:11:00 AM  
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.

Gold and Silver prices turn distinctly weak         Publish Date : 3/3/2007 7:03:00 AM  
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.

Further fall in gold and silver prices         Publish Date : 3/2/2007 7:06:00 AM  
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.

Rupee ends marginally up at 44.26/27 a dollar         Publish Date : 3/2/2007 7:03:00 AM  
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.

Hyundai domestic sales up 74 pc in Feb         Publish Date : 3/2/2007 7:01:00 AM  
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.

Hutchison Telecom files caveat fearing legal move by Essar         Publish Date : 3/2/2007 6:59:00 AM  
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.

Skoda slashes car prices up to Rs 24,000         Publish Date : 3/2/2007 6:56:00 AM  
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.

Bond prices continue to decline         Publish Date : 3/1/2007 8:30:00 AM  
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.

India should be more conscious of global developments: RBI         Publish Date : 3/1/2007 8:19:00 AM  
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.

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