Maruti Suzuki is betting on strong reservations; Claims market share in non-SUV segment at 66%

In an interview with CNBC-TV18, Shashank Srivastava, ED-Marketing and Sales, Maruti Suzuki, said bookings are currently strong for the company. He added that it is currently over 2.5 to 2.6 lakh.

“Today Maruti Suzuki has reservations over 2.5-2.6 lakh which is quite strong,” he said.

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Shedding light on the company’s market share, Srivastava pointed out that it had seen a slight decline of around 2.7% on an annual basis. However, the non-SUV segment has grown to 66% from 57% five years ago. He further mentioned that there is a need for Maruti to expand its presence in the SUV segment.

He said: “It’s true that we have around 45% of the market today, compared to 47.7% last year. So there is a drop. That said, if you look at Maruti’s market share, the last five years in the non-SUV sector, it’s increased, so it was around 57% five years ago, today this year, so far it is 66%. »

“The SUV segment is an area Maruti needs to work on and we hope to improve our portfolio in the future, so that we can achieve our overall market share targets,” he said.

Furthermore, he mentioned that the company had seen a price increase of 8.8% since January last year.

“Commodity price increases over the year and a half have been very high and we have taken price increases of almost 8.8% in total during this period, or since January of last year,” did he declare.

On the February sales figure, Srivastava said they were down 4% from a year ago for the industry as a whole. He said sales in the wholesale sector, however, increased 15% in the 11 months of FY22.

“February sales, compared to last year, were around 4% lower for the industry, although the wholesale figure was around 2% lower than last year. Cumulatively, the wholesale numbers for this year are about 15% higher than last year,” he said.

Watch the video for the full interview.

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(Edited by : Dipikka Ghosh)

First post: STI


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