Maruti Suzuki Powers Ahead: Delivering More Cars to Customers this Festive Season – 5 Key Insights!

Maruti Suzuki

Maruti Suzuki, a leading automobile company, is poised for rapid market growth driven by high demand for its SUV models, as stated by a senior executive. The company expects the passenger vehicle market to grow by 5-7 percent in the current fiscal year.

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1) Maruti Suzuki India’s Senior Executive Officer, Shashank Srivastava, mentioned that their growth projection remains unchanged since the beginning of the year. They anticipate their growth rate to surpass the industry average, which is evident from their 12.2 percent growth in the first quarter, compared to the industry’s 9.5 percent.

Maruti Suzuki

2) The demand for passenger vehicles has been strong in the fiscal year, with the April-June period being the best quarter ever for the industry. However, Srivastava noted that the growth rate may be lower in the upcoming months due to the base effect. Despite this, the company expects the demand to remain steady as bookings continue to be robust.

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3) Regarding the preparations for the upcoming festive season, Srivastava mentioned that Maruti Suzuki aims to enhance production and reduce waiting periods for popular models such as Ertiga, Brezza, and XL6. The semiconductor shortage, which had caused disruptions in production, is expected to subside in the second quarter, enabling the company to meet customer demand more efficiently.

Maruti Suzuki

Maruti Suzuki currently faces a booking backlog of approximately 3.62 lakh units, and they intend to address this issue by ramping up production. The company anticipates a lesser impact of the semiconductor shortage during this period.

4) Additionally, Maruti Suzuki plans to expand its hybrid vehicle lineup in the future. While the exact number of new models was not disclosed, Srivastava indicated that the company’s hybrid offerings would increase. This move aligns with Maruti Suzuki’s focus on providing environmentally friendly alternatives, such as CNG and hybrid cars.

5) The company aims to match the sales peak of diesel vehicles, which reached 4.8 lakh units in 2017-18, through increased sales of CNG and hybrid models this year.

In summary, Maruti Suzuki expects a faster market growth rate by capitalizing on the strong demand for their SUV range. Despite potential growth rate moderation, the company remains optimistic due to robust bookings and the anticipated alleviation of semiconductor shortages. Maruti Suzuki also plans to expand its hybrid vehicle lineup to cater to environmentally conscious customers and aims to achieve sales figures comparable to its previous peak in diesel vehicle sales.

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