Suzuki to build new car in India, China, paper says
Reuters / May 11, 2004
TOKYO -- Suzuki Motor Corp. plans to produce a new version of its Concept S car in India and China by year end in order to tap the increasing number of wealthy consumers there, a newspaper said Tuesday.
Suzuki, Japan's top minivehicle maker and primarily a small-car manufacturer, is considering buiding a new, sportier version of the 1.5-liter-class passenger car at its Indian unit, Maruti Udyog Ltd., and at a joint venture in China, the Nihon Keizai Shimbun business paper said.
Suzuki, one-fifth owned by General Motors, has so far manufactured only older models in emerging markets but strong economic growth in India and China has led it to change its strategy, the paper said.
India's economy grew by 10.4 percent in October-December from the same period a year earlier, outpacing China.
"We have plans to build the car in potentially important markets, but we are still considering various options and are not in a position to make an official comment," a Suzuki spokesman said.
The new vehicle, to be produced in Japan and Europe and rolled out this year, will be a major global model for Suzuki, with targeted annual sales of 400,000 units.
It is the successor to its Swift car.
India's Maruti Udyog has been one of the biggest winners in the country's car boom.
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