February 13, 2022
1 min read

Maruti becomes ‘car export king’ in India

Besides exports, the other driver for demand, according to Srivastava, will come from the high Capex announced in the Union Budget FY23…reports Asian Lite News

Automobile major Maruti Suzuki is on course to become the largest car exporter from India in FY22.

The feat has been achieved after a gap of 11 years with new Baleno leading the pack.

The automaker exported 205,450 units in the calendar year 2021.

In a conversation with IANS, Maruti Suzuki India’s Senior Executive Director, Sales and Marketing, Shashank Srivastava said the company already shipped out almost 206,000 units to foreign markets in calendar year 2021.

“This financial year also we should be doing something like 220,000 units. Maruti is now the largest exporter of cars in India,” he said.

Besides exports, the other driver for demand, according to Srivastava, will come from the high Capex announced in the Union Budget FY23.

“There is no doubt that increased Capex capital will ultimately benefit the industry.”

Furthermore, the re-opening of contact intensive sectors such as education is also expected to give demand a push, he said.

“A lot of the demand should come back from the reopening of institutions across the country.”

“Once the normalcy starts returning… it is expected to help us get back to the normal economy.”

On the pandemic induced rise in automobile sales trend, he said that the shift to personal mobility will continue for some more time.

“When the pandemic began, it was expected that car demand will come down but it has been the opposite of that. It has done better than the expectation even with the loss of income levels and the disruption that we saw in the last two years.”

“Going forward, the expectation is that the shift to personal mobility will continue for some more time. The pandemic may go away but the fear might still linger on.”

In addition, the company plans to launch a slew of new as well upgraded products in the market.

It recently opened the bookings for its new generation Baleno.

ALSO READ-India’s smartwatch market sees record growth

Previous Story

‘Badhaai Do’: Another honest take on LGBTQ+ issues

Next Story

Chun-Hsin Tseng beats Borna Gojo to win Bengaluru Open

Latest from Business

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics

India Maps 8.52 MT Rare Earth Reserves

The Atomic Minerals Directorate for Exploration and Research (AMD) and the Geological Survey of India (GSI) are actively exploring and augmenting rare earth resources, while the GSI alone has added 482.6 million

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more
Go toTop

Don't Miss

Mamata to Address Oxford, Meet UK Industrialists 

The topic of Banerjee’s Oxford address remains undisclosed. She was

Breaking the ecosystem of separatism in J&K

The first thing Manoj Sinha did immediately after his taking