Maruti Suzuki India rules out price cut

The country's leading automobile manufacturer, Maruti Suzuki India Ltd, will not reduce prices of its products to beat the recession, a company official said on Thursday.

Maruti Suzuki India Managing Executive officer (production) M M Singh said that although commodity prices had come down, the company was still 'struggling with (high) steel prices.'

'There are no plans to reduce prices at the moment,' Singh said.

Maruti launched the 'A-star' model here targeting the A2 segment.

Singh said that the one lakh units of the model would be exported to Europe, and 50,000 units would be sold in the domestic market.

By the year 2010, Maruti plans to produce one million units from its two plants at Gurgaon and Manesar in Haryana.