India's largest car maker Maruti Suzuki India said on Thursday it expects exports to remain flat this year in view of the global meltdown.
"Consequent to the global economic slowdown, we expect exports to remain flat this year. It will be the same as last year level of 53,000 units," company's Chief Executive Officer (sales) Mayank Pareek said after unveiling the "A-Star" here.
"Last year, the export growth was 21 per cent. This year we expect it to be the same," he said.
"A-Star, Maruti's eighth vehicle launched in less than 40 months, reinforces its dominance in the A2 segment, where Maruti Suzuki holds a 61 per cent market share" Pareek said.
A-Star will contribute three fourth (150,000 units) of Maruti Suzuki's overall export target of 200,000 units by 2010-11, he said, adding that the firm plans to commence exports of A-Star in early 2009, to Europe.
"We are looking at domestic sales of 50,000 units this year", Pareek said.
A-Star is the first car from Maruti's stable to be fitted with the new KB series engine, the K10B, designed to meet the current and forthcoming environment norms in India as well as advanced markets of the Western world.
"A-Star is Euro V ready and a green car as 85 per cent of the car is recyclable. In addition, it is free from hazardous materials like lead, cadmium, mercury and chromium", he said.
The car, already launched in Delhi amd Mumbai, has received a "very positive response", Pareek said.
The price of A-Star which comes in three variants LXi, VXi and top-end ZXi is Rs 3,46,254, Rs 3,73,407 and 4,10,407 respectively.