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

EVs Drive Cleaner Cities

Each EV is equipped with GPS tracking for real-time monitoring and efficiently serves the city’s 159.46 square kilometre area The use of electric vehicles (EVs) in household waste collection is ushering in

Residential Market Sees Revival

Sales jump 77% from FY19 to FY25 as luxury housing, office leasing, logistics, and tech-led investments drive real estate recovery. India’s residential real estate market has witnessed a dramatic revival in the

Recovery From Realty Stress Rises

Crisil expects residential demand in these markets to grow by 7–9 per cent in FY26, offering critical support to projects now being revived through restructuring Asset Reconstruction Companies (ARCs) are expected to

Qatar Debut For Tata

Tata Motors emphasised that its international offerings are backed by strong research and development capabilities, with vehicles that are thoroughly tested and adapted to local conditions Tata Motors has unveiled its all-new
Go toTop

Don't Miss

India’s seafood exports all set to reach all-time high

During 2021-22, India exported 13,69,264 tonnes of marine products worth

Top Indian firms survive post pandemic

Infosys (brand value up 52 per cent to $12.8 billion)