Maruti Suzuki continues to beat market expectations and the company has done it yet again for the quarter ending September 30. The company’s turnover grew by 21 percent in the last quarter and its profits are also up. Maruti Suzuki registered a profit of Rs 2,484 crore for the July-September quarter whereas the profit in the year-ago period was Rs 2,402 crore. Speaking about the quarterly results, Maruti Suzuki chairman RC Bhargava said that the company has set a target of 2 million units by 2019-20. He said that the company is currently producing around 1.67 million units, but the same would increase to around 2 million units in 2019-20. It may be recalled that Maruti has achieved its targets on most occasions and the 2 million unit target should not be difficult, given the fact that the company shares significant goodwill among car users in the country.
Bhargava also talked about the future of the company and said that they are looking forward to launching electric cars in the country. He said that the general belief is that batteries are the only problem for electric cars, but there are many more challenges that just the battery. Maruti is already in the process of commissioning a plant in Gujarat to produce vehicle batteries in India and this would be functional by 2019. Bhargava said that the next challenge would be to create features and functionalities that customers would appreciate.