Maruti Suzuki looks to strengthen exports: Maruti Suzuki India’s upcoming new version of its compact sedan Dzire will target markets such as the UAE, Saudi Arabia, Chile, Mexico and other Latin American countries to accelerate exports and is expected to be overseas this financial year, a senior official of Maruti Suzuki India said. Shipments will exceed 300,000 units on Wednesday. In the domestic market, the new Dzire will be launched next week as the company hopes to increase its share in the sedan market as the passenger car market shifts towards SUVs (Sports Utility Vehicles).
“In the first seven months of this financial year, our (export) growth rate was about 11.9% and we want to continue this momentum. So, we hope to export over about 300,000 vehicles in this financial year,” Maruti said Rahul Bharti, executive director, corporate affairs, Suzuki India. By comparison, about four years ago, the company’s annual exports were below 100,000 units, he added.
“So, now we will produce about three times the volume, and by the turn of the century, we hope to triple it again to about 800,000 units a year,” Bharti added. Elaborating on the export strategy, Bhatti said: “One of the biggest drivers for increasing exports is launching more models in more regions. So, we are increasing the number of models and also increasing the markets.”
Currently, the company is exporting to Latin America, the Middle East and Southeast Asia, he said. Additionally, he said, “At some point, we will also re-enter Europe and Japan (with upcoming electric SUVs).”
Regarding the upcoming new version of the Dzire compact sedan, Bharti said: “We hope to increase exports as it is getting wide acceptance in the market with its new stylish design, technology and standard six airbags.”
He further said, “We have to increase the density of these (existing) markets. We will target markets such as the UAE, Saudi Arabia, Chile, Mexico, other countries in Latin America and some markets in Southeast Asia.”
He added that the existing Dzire model was among the top three exported models in October. On the domestic front, Maruti Suzuki India’s senior CEO of marketing and sales Partho Banerjee said the company hopes to increase its share in the sedan market through new products.
The upcoming Dzire version sold more than 160,000 units last year, he said, adding that the company expects more growth as new products are launched. “Every second car sold in the sedan segment (domestic market) is from Maruti… In fact, we are increasing our market share in the sedan segment,” he asserted.
Banerjee acknowledged that the sedan market is shrinking as SUV growth accelerates, but that sedans will continue to dominate the market as SUV demand stabilizes at some point. “As a market leader, we need to be present in all market segments.
“Our view is that in every segment, we need to show and deliver the product to the consumer. Let the consumer decide which form factor they want,” Banerjee said.
