Maruti Suzuki bets on strong bookings; says market share in non-SUV segment at 66%
In an interview with CNBC-TV18, Shashank Srivastava, ED-Marketing & Sales, Maruti Suzuki, said that bookings are strong for the company, in excess of 2.5-2.6 lakh currently. He shed light on the company's desire to expand its reach in the SUV segment. In the non-SUV segment, however, he shared that the company is seeing a market share of 66 percent as compared to 57 percent, five years back.
In an interview with CNBC-TV18, Shashank Srivastava, ED-Marketing and Sales, Maruti Suzuki, said that bookings are strong for the company currently. He added that it is in excess of 2.5-2.6 lakh at the moment.
"Today Maruti Suzuki has bookings in excess of 2.5-2.6 lakh, which is pretty strong," he said.
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Shedding light on the company's market share, Srivastava highlighted that it has seen a slight dip of around 2.7 percent on a year-on-year (YoY) basis. However, the non-SUV segment has grown to 66 percent as compared to 57 percent, 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 are around 45 percent of the market now as against 47.7 percent last year. So, there is a decline. Having said that, if you look at Maruti’s market share, the last five years in the non-SUV sector, it has been going up, so it was about 57 percent five years back, today in this year, so far it is 66 percent."
"SUV segment is a place where Maruti needs to work on and we do hope to enhance our portfolio coming forward, so that we can achieve our overall market share objectives," he said.
Additionally, he mentioned that the company has taken a price rise of 8.8 percent since January of last year.
"The commodity price increases in the last one-and-a-half years have been very high and we have taken price hikes of almost 8.8 percent overall during this time, or since January of last year," he said.
On February sales number, Srivastava said that they were down by 4 percent when compared to last year for the entire industry. He specified that wholesale industry sales, however, were up 15 percent in the 11 months of FY22.
"February sales, compared with last year, were about 4 percent less for the industry, although the wholesale figure is roughly about 2 percent less than last year. Cumulatively though, the wholesale numbers for this year are about 15 percent higher than last year," he said.
Watch the video for the full interview.
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(Edited by : Dipikka Ghosh)
First Published: Mar 2, 2022 1:38 PM IST
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