Maruti Suzuki Reports Strong Demand Amid Global Challenges
'Demand for Maruti cars healthy in local market despite global challenges,' says senior executive Partho Banerjee
The Economic TimesImage: The Economic Times
Maruti Suzuki, India's largest carmaker, is experiencing robust demand for its vehicles despite global geopolitical tensions. The company aims for over 10% growth in FY27, significantly outpacing the projected 5-7% industry growth, with plans to ramp up production to meet the 165,000 pending orders.
- 01Maruti Suzuki plans to achieve over 10% growth in FY27, exceeding industry expectations.
- 02The company reported record sales of 191,122 units in April 2023.
- 03Pending customer orders stand at 165,000 vehicles, with low dealer inventory of 16-17 days.
- 04Government measures like GST cuts and interest rate reductions are boosting demand.
- 05Maruti Suzuki has allocated ₹14,000 crore for capacity expansion in FY27.
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Maruti Suzuki, the largest car manufacturer in India, is witnessing strong demand for its vehicles, with sales reaching an all-time high of 191,122 units in April 2023. Despite global geopolitical challenges, the company is targeting over 10% growth in the ongoing financial year (FY27), significantly higher than the projected industry growth of 5-7%. Senior executive Partho Banerjee highlighted that the company has 165,000 pending customer orders and is working to ramp up production at its facilities in Kharkhoda, Haryana, and Hansalpur, Gujarat. The automaker is benefiting from favorable government policies, including GST cuts and interest rate reductions, which have increased consumer purchasing power. To support its growth, Maruti Suzuki has earmarked ₹14,000 crore for capacity expansion, aiming to produce an additional 250,000 vehicles this fiscal year. The company plans to introduce new products across various GST segments to cater to a wider customer base and increase market share.
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The strong demand and production ramp-up at Maruti Suzuki could lead to more job opportunities and better vehicle availability for consumers in India.
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