Bhargava also mentioned plans to increase production by improving availability of semiconductors. Bhargava also said that the upcoming mid-range SUV Maruti Suzuki Grand Vitara will play a key role in achieving the set target.
In FY 2021-22, Maruti Suzuki’s total sales grew by 13.4% to 16.52 lakh units. The company saw its sales slump in the first quarter of last fiscal as production was affected by the Covid-19 pandemic and a global semiconductor shortage. However, Bhargava informed that the company’s bookings rose to around 2.7 lakh at the end of the year, and Maruti Suzuki India Ltd’s market share fell from nearly 50 per cent to 43.4 per cent as it lost some opportunities in the domestic market.
According to Society of Indian Automobile Manufacturers (SIAM) data, domestic passenger vehicle sales in the domestic market were 27,11,457 in 2020-21 and 30,69,499 in 2021-22, he said. Speaking about the sales forecast for the current financial year, RC Bhargava said that we are planning to increase vehicle production as the situation regarding the availability of semiconductors continues to improve. Our company is making many more improvements to increase productivity. I have instructed our team to reach 2 million units. However, doing so will be a challenge, he added.
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With the launch of the mid-size SUV Grand Vitara, the company is pushing to increase its production numbers and the Grand Vitara is one of the main reasons to target 2 million units. Because this new SUV will help you reach your destination, he said. Toyota will manufacture the Maruti Suzuki Grand Vitara at its Karnataka plant.
He also said that the upcoming new SUV will come with Toyota’s powerful hybrid technology and will be the first car to be manufactured in India with this technology. Maruti Suzuki needs to improve its SUV portfolio to offset the decline in sales of non-premium hatchbacks. As the SUV sector continues to grow, he is hopeful that the global launch of the facelifted Brezza and Grand Vitara will change things for the better.
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