Maruti Suzuki Targets 25% Sales Growth by 2020

Maruti Suzuki India Ltd., India’s largest carmaker, aims to hike its annual vehicles sales to 2 million units by 2020 from 1.6 million in the fiscal year ended March 31.

MSI says growth will be driven by a host of new models and an aggressive plan to expand its dealer network more than 70% to 3,800 outlets. This year alone, the company is spending nearly 10 billion rupees ($154 million) to buy land to lease to select dealers.

By 2020 MSI is expected to introduce the three-row Wagon R MPV, a new crossover vehicle code-named YHB and a premium SUV. The company’s domestic sales in October climbed 10% to 136,000 vehicles, and exports rose 4% to 10,400 units.