AutoExpo: 5 new models from Maruti

The automobile giant will roll out new models in various segments, reports Deshbandhu Singh.

India's automobile giant, Maruti Udyog has announced plans to introduce five new models by 2008 for the Indian market.

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"The company would introduce five new models in next five years. It will be practically one model from the Maruti stable every year," Maruti Udyog Limited Managing Director Jagdish Khattar said at the Auto Expo in New Delhi.

The company will invest Rs 2,718 crores for research and development and upgradation.

These investments are over and above the Rs 3,000 crore investment announced for setting up a new car and engine plant.

He also announced that a sports model of Swift will be launched soon.

On the decline in exports, he said the down trend is temporary and expressed hope that foreign shipments would pickup.