Maruti Suzuki sets goal to manufacture 20 lakh units this fiscal, says chairman
As the situation of semiconductors gets better, Maruti Suzuki India aims to increase its manufacturing and has set a target to make 20 lakh units in the ongoing fiscal, stated Maruti's Chairman RC Bhargava. He also shared that the upcoming mid-sized SUV, Maruti Suzuki Grand Vitara will play a crucial role in achieving the set goal.
In the 2021-22 fiscal, Maruti Suzuki's total sales grew by 13.4 per cent that is by 16.52 lakh units. The company lost out on sales in the first quarter of the fiscal year as production took a hit due to the pandemic and the global semiconductor shortage. This affected the domestic models mainly, informed Bhargava. “The number of unmet bookings with the company at the end of the year rose to about 2.7 lakhs," he said. This decline also impacted Maruti Suzuki's share which fell from nearly 50 per cent to 43.4 per cent as the automaker lost some opportunity in the domestic market.
For sales prediction in the current year, Bhargava said the vehicle production would increase as the scenario of semiconductor shortage is improving. He also informed that with the launch of the Grand Vitara mid-size SUV, the company is stressing on increasing its production numbers and the new SUV will also help it to push it further. The Maruti Suzuki Grand Vitara will be manufactured by Toyota at its Karnataka factory. “The new SUV will also come with Toyota's strong hybrid technology, which is the first-time cars with this technology would be manufactured in India," he added.
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Maruti Suzuki is focusing to enhance its SUV portfolio as it is now all the more crucial to offset the decline in sales of the non-premium hatchbacks which is the core segment of the company. This segment of the company observed a decline of 5 per cent in FY22 due to rising costs as compared to 2020-2021. “On the other hand, the SUV sector continued to grow. We did not have enough models in this segment to compete effectively, though the situation has now become much better with the launch of the remodelled Brezza and the global launch of Grand Vitara," added Bhargava.
(With inputs from PTI)