India's largest carmaker Maruti Suzuki plans to ride on the back of new launches in the future to retain its numero uno position in the market place and beat-back competition from its peers.
"We will continue to retain our 50 per cent market share going forward. Though there is stiff competition, we intend to face it through the launch of more models in the future," Maruti Suzuki India's Chairman R C Bhargava told PTI here.
Admitting to a "stiff competition" in the domestic automobile market, Bhargava said Maruti's strategy to beat the competition would be through the launch of new models.
"We will continue to launch more models in future to face the intense competition in this sector," he said.
Bhargava's comments assume significance as the carmaker's market share slipped below the 50 per cent-mark during the January-June 2010 period.
At present, the auto major faces competition from carmakers such as General Motors, Ford, Fiat, Toyota and Honda.
Maruti is eyeing a double-digit growth between 12 and 14 per cent this year, Bhargava said.
"Yes, we have been facing severe production constraints. If we had not faced production constraints, we would have been achieved a higher marketshare today. But, we are always trying to cater to the people's demand," he said.