Maruti becomes 1st co to produce 1 mn units in year

India`s leading car manufacturer, Maruti Suzuki (Q,N,C,F)* India has joined a select club of global automobile makers, when it became the first automobile company in India to produce 1 million cars in a year.

The millionth car manufactured in 2009-10, a glistening red Maruti Suzuki Swift, rolled out from its Manesar plant, in the presence of Bhupinder Singh Hooda, Chief Minister, Haryana and Vilasrao Deshmukh.

Taking forward its commitment to serve its customers better and faster, the car major also set the foundation stone for capacity expansion at its Manesar plant by 2.5 lakh units annually.

This initiative will help the company scale up the Manesar pIarns capacity expansion 300, 000 units per annum to 550,000 units per annum over the next two years.

Maruti Suzuki will invest about Rs 17 billion for this expansion. Maruti Suzuki`s present production facilities are located at Gurgaon with a capacity of 7 lakh (0.7million) units and Manesar with capacity of 3 lakh (0.3 million) units.

Shares of the company declined Rs 2.15, or 0.15%, to trade at Rs 1,395.10. The total volume of shares traded was 45,405 at the BSE (2.48 p.m., Tuesday).

Source: Indiacar.com