Medilytix Bureau: Maruti Suzuki India chairman RC Bhargava on Sunday said the company is currently aiming to produce 20 lakh units in the ongoing fiscal (FY23) and will increase the production with improving availability of semiconductors.

Bhargava, in his address to shareholders in the company’s annual report for 2021-22, informed that the upcoming mid-sized SUV Grand Vitara will play a key role in the challenge to touch 20 lakh units.In 2021-22, total sales of Maruti Suzuki India Ltd NSE -1.40 % (MSIL) increased by 13.4 per cent to 16.52 lakh units. It had lost out on sales in the first quarter of the fiscal due to the pandemic and production being affected by the shortage of semiconductors, mainly for domestic models, Bhargava wrote.
As per Society of Indian Automobile Manufacturers (SIAM) data, domestic passenger vehicle sales in the domestic market stood at 30,69,499 units in 2021-22, as compared to 27,11,457 units in 2020-21.

On the outlook for the current year, he said, “The vehicle production would increase as the situation regarding the availability of semiconductors has improved. Your company has also made further improvisations to enhance production. I am exhorting our team to reach 2 million units, though doing that remains a challenge.”

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