Daewoo aims 20% growth this fiscal

Daewoo aims 20% growth this fiscal
ENS ECONOMIC BUREAU

MUMBAI, AUG 26: Daewoo Motors has targeted to double its turnover to Rs 2,500 crore and sales to 80,000 cars in the current fiscal as compared to last year's turnover Rs 1,300 crore with sales of 40,000 cars.

Various teams from Ford have already visited the Daewoo Motors (India) plant and held meetings with him on the ongoing restructuring plan. "I held a long meeting with the Ford India managing director Phil Spender and I am optimistic that the partnership will make India operations strong," he noted.

Awasthi ruled out possibility of launch of new projects in the near future. However, he said that any decision in this regard will be possible early next year. "The Indian market is changing fast in terms of demand behaviour and thus, product strategies are being worked out," he added.

The company has launched two new variants - SG and SA - of the Matiz, fitted with power steering "to spice up the customer's life." Matiz SA which will have power steering and anti theft system (ATS) will have a price tag of Rs 4.20 lakh ex-showroom Mumbai and it will be Rs 30,000 cheaper than the Zen Vxi, Rs 2,000 cheaper than the Indica LXi. It matches the price of Santro GS.

The Matiz SG with a price tag of Rs 3.64 lakh is cheaper by Rs 31,000 than Santro's power steering version, Rs 86,000 than Zen's power steering version and Rs 58,000 than the Indica's power steering version.