Automobile giant Maruti Suzuki is all set to pitch its exports share by utilising its maximum capacity at the third manufacturing line in Gujarat.
The company has long subsided its aim for exports and in turn prioritized in meeting the local demands. This can be seen in its exports share which accounted for only 6 percent of its production. However, it seeks to increase its share to over 20 percent.
Currently, Maruti Suzuki is India’s largest car manufacturer as well as South Asia’s. Ever since it began its production in the country in 1983, the company has expanded its presence greatly and is one of the few publicly listed automotive companies in India.
Having established a marked prominence in domestic automotive space, Maruti Suzuki is planning to push on its exports this year onwards. “The domestic demand environment is very challenging. With the third plant of Suzuki Motor in Gujarat, we will have excess capacity…we will aim to utilise it as quickly as possible,” said Kenichi Ayukawa, Managing Director, Maruti Suzuki.
So far, the Indian subsidiary of Japanese Automobile company, Suzuki has managed to allow itself through in some countries in South Asia, Latin America and Africa. However, it is India and Japan where the company has built a decent position, with both the countries accounting for over 80 percent of its global volumes.
Back in 2019, Suzuki Motor Corporation and Toyota Motor Corporation have formed a pact to explore opportunities and share technologies. The alliance between the two will be instrumental in Maruti Suzuki’s export plans.
The PV export of Maruti Suzuki usually stands at 100,000-110000 units per year. The company accounted for a third of India’s PV exports in FY10 which was reduced to 16 percent by the end of FY19.
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