Suzuki Motor heir takes over as the new president
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Toshihiro took over the role from his father as president and chief operating officer on Tuesday. Osamu Suzuki remains the
The company also announced its new mid-term plan, where it gave a heavy weight to its Indian subsidiary in its future growth prospects.
Suzuki said it will try to achieve 3.4 million vehicles sales by the end of the decade aiming to grow at a
India contributed around 43% of Suzuki's global sales and 30% of its consolidated profits in FY-15.
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The Japanese automaker said it expects the passenger vehicle market in India to grow at a compounded rate of 11% for the next five years to 5 million units and become the third largest passenger vehicle market globally by 2020 and Suzuki expects Indian base to retain its high 45%
K Ayukawa, MD & CEO, Maruti Suzuki India Limited told ET: "The SMC medium term plan puts high focus on India, which is very positive. Mr T Suzuki has been a
The local Indian subsidiary will not only act as a key production base, but its Japanese parent wants the India operations to globalise the brand further by exporting to newer markets.
Suzuki Motor Corporation said it will launch 20 new products in the coming five years which may also include full model changes of existing cars and it wants to make India a long term development base by co-developing more with Indian engineers.
(Image: Reuters)
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