Exclusive: Maruti Suzuki aims to capture 50% market share in SUV segment, says Senior ED Shashank Srivastava

India's largest car company Maruti Suzuki has seen a slight dip in its numbers last month. What is the reason? What is the future plan of the company? What is the outlook of the sector? Swati Khandelwal spoke with Shashank Srivastava, Senior Executive Director of Maruti Suzuki in a popular TV show 'Corporate Radar' where he said the company aims to achieve a 50% market share in the SUV segment.

Sale units of Maruti Suzuki
The company's total sales in May grew 7% to 1,61,000 units, while domestic sales grew 1.5% to 1,42,000 units. Total exports grew by 49% to 27,200 units. But if you look at the month-on-month numbers, there is a slight dip.

Demands-Supply patterns
Talking about the demand pattern, the Executive Director of Maruti Suzuki Shashank Srivastava said that the demand pattern for the last 4-5 months is quite stable according to the company's data history. The trend of inquiries and bookings is quite positive, he added.

But supply constrain still remain, he further said, and that is why the April-May numbers are limited. "Demand continues to be good, supply constraints still exist," said Srivastava.

He informed Maruti Suzuki has 2,95,000 bookings pending right now. And it is estimated that there is 5.25 lakh pending bookings in the industry.

Domestic Sale
The senior ED said that pending booking and limited supply of semiconductors are the reasons for flat domestic sales on a month-on-month basis. But it is expected that the production will increase and these units will be increased rapidly in the domestic sector, he added.

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#CorporateRadar

SUV सेगमेंट में 50% मार्केट शेयर हासिल करने का लक्ष्य...हर साल SUV सेगमेंट में नई गाड़ियां लॉन्च का प्लान:शशांक श्रीवास्तव, सीनियर एग्जिक्यूटिव डायरेक्टर, मारुति सुजुकी

देखिए #MarutiSuzuki के मैनेजमेंट से बातचीत...@Maruti_Corp | @SwatiKJain pic.twitter.com/Ge1brKfUid

— Zee Business (@ZeeBusiness) June 2, 2022

Market Outlook of the company
Khandelwal said that the Maruti Suzuki is facing ups and downs. Nifty is near 16,550. The business is flat today in the market. Sensex has seen a gain of 100 points and the market is getting more support from Energy, IT, PSU, Oil, and Gas sectors.

Company's Future Plan
Shashank Srivastava said that the company aims to capture a 50% market share in the SUV segment. The firm is also planning to launch new vehicles in the SUV segment every year, he further added.