Suzuki Motorcycle India plans to boost exports to global markets
Suzuki Motorcycle India is planning to boost its exports to developed markets such as Japan and New Zealand, in order to cash in on the demand of Indian models. While the company's exports saw a dip last year, it is hoping to increase its export shipments as most of the international markets where it exports have recovered from the Covid-19 crisis.
Currently, the company is focusing on markets such as Latin America, Japan and South East Asia. It is also looking to increase exports to neighbouring countries such as Sri Lanka, Nepal and Bangladesh. "If you look at all the world, the demand for Indian models is increasing drastically. So, we have to catch up with such kind of demand as soon as possible," Suzuki Motorcycle India's Company Head Satoshi Uchida was quoted as saying by PTI.
During the 2020-21 fiscal year, Suzuki Motorcycle's exports were down 33.09% at 70,369 units when compared to 1,05,164 units in 2019-20. However, the company said that its order books exceeded what it could actually supply and the situation continues even now.
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Situation improved for the company in March and April this year. In May, due to oxygen-led disruptions in the supply chain "everybody will make less. So, this month may be an aberration, but next month onwards, a similar improvement is expected," Suzuki Motorcycle India's Vice-President - Sales, Marketing and After Sales, Devashish Handa, was quoted as saying by PTI.
This year, the company hopes to cross the one lakh unit exports mark again with its increasing exports to some newer and developed markets. The company's main markets continue to be Bangladesh in South Asia, Colombia and Mexico in Latin America. About exporting to Africa, Uchida told PTI, "We need a little bit more time. We are focusing on big premium products... Africa is still a commuting market."