'Maruti to push for a higher mkt share next yr also'

“Top three models in the industry are from Maruti Suzuki, so very positive. We are very hopeful of the next year as well. Overall, for the industry though I think the projection for the industry is the single digit growth and we do hope that we will try to grow a little faster than the industry and hopefully it should be another good year for Maruti Suzuki,” says Shashank Srivastava, ED, Maruti Suzuki India Ltd.



What are your expectations from next fiscal year 2024-25?

See, this year which just went by the fiscal year 2023-24 has been pretty good for the industry. First time industry crossed the four million mark. Maruti Suzuki grew faster than the industry so we added market share. So, it has ended on a really positive note.

Top three models in the industry are from Maruti Suzuki, so very positive. We are very hopeful of the next year as well. Overall, for the industry though I think the projection for the industry is the single digit growth and we do hope that we will try to grow a little faster than the industry and hopefully it should be another good year for Maruti Suzuki.

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About the April now, what will be the discount in the market? About the price rise and commodity pressure, what is your take there?

So, actually we have added stock in the industry. The industry stock end of March is roughly around 310,000. We started the year with only about 204,000 or 205,000 stock, but it is still close to the 30-day inventory. Remember the average sale in the industry per month last year was about 3.5 lakhs. However, you are right we have to carefully watch the supply and the demand gap because discounts as that you were asking are really a gap between supply and demand. Hopefully, the demand is good and we have a very good auspicious period coming up from the 9th of April, the Gudi Padwa, Navratra. So, if the retail happens as we expect, then we can see some good sales and the discount level I think should not go up from what it is because now the manufacturers have the luxury of matching the production with the actual demand.

Your first EV is coming this financial year, on track, and can you give us some specific timeline when is it coming and what are you doing to increase the market share in this segment also?

Yes, so EV specific timelines are difficult for me to give you here but we will be producing our first EV in this fiscal year and we will have a phase-wise introduction.

Right now, we are looking on how to make it convenient for consumers to own and buy EV so that they are not inconvenienced in any way.

On the SUV side last year as we have been talking we had only the 11% share and one of the big reasons was our portfolio was very limited.

In the industry there were about 47 SUVs and only one Brezza was there for Maruti Suzuki.

So, we decided that one of the first ways by which we can sort of increase our market share is that we have to increase the portfolio and we did.

We brought in the Grand Vitara last September, we had the Fronx coming in April of last year, then we had in June the Jimny. So, now we have about four SUVs and that is the reason why in the H1 of this fiscal year we have become the number one SUV manufacturer in the country.

We ended up the year with number two position, but very-very close and I think with our better portfolio now we will like to give a push for higher market share next year as well.

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Harry Byrne

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