India’s leading car manufacturer Maruti Suzuki India Limited unveiled its concept Multi Purpose Vehicle (MPV) called the R3 at the Auto Expo.
The automaker will utilize its cash reserves of 50 billion rupees ($1.1 billion) for the expansion, Ajay Seth, the company’s finance head, said in an interview in New Delhi today. The Indian unit of Suzuki Motor Corp., Japan’s second-largest minicar maker, has no plans to take loans, he said.
“In 2009, our sales grew by about 22 per cent compared with 2008’s. But since 2008 was a bad year if we look back and compare with the growth two years ago, we have grown by just about 19 per cent,” Maruti Suzuki India Managing Director Shinzo Nakanishi told reporters at the Auto Expo.
The car maker, known for its small, fuel-efficient and reliable cars has chosen this year’s Auto Expo to show case its R&D strength and capabilities to diversify further in passenger vehicles and eco friendly future technologies.
The company showcased its new seven-seater family car at the auto show in Delhi earlier in the day.
Maruti technical boss IV Rao said “The big car is here because families have grown up and needs have changed. The idea for the R3 was to design something for larger families rather than conventional small cars”. For a concept designed in India, the R3 definitely looks good.
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