The mid- and long-term prospects remain strong for the Indian automotive market even though short-term challenges stemming from inadequate availability of semiconductors have disrupted operations in the industry, said Kenichi Ayukawa, managing director at . The vaccination drive being undertaken by the government, rapid development of road infrastructure and a young aspirational population ensure good growth will soon return to the Indian market, he added.
Both bookings and enquiries remained strong for the market leader in the recently concluded festive season, he said. The company currently has pending orders of more than 250,000 units. It is working closely with supply-chain partners to ease supply constraints and accelerate deliveries.
“In September, we lost about 60% of our production. In October we recovered, but lost 40%. Even in November, we are losing 15% or something. Situation has begun improving but still challenging. Globally, all industries are facing difficulties,” Ayukawa said on the sidelines of the launch of Maruti Suzuki’s all-new Celerio hatchback, priced at ₹4.99-6.94 lakh (ex-showroom). He said the company is working on introducing a product in the fast-growing sport utility vehicle segment shortly. But it will continue to focus on hatchbacks which account for 46% of all passenger vehicles sold in the local market.
“There is a trend pushing SUV sales but then we also have demand other than that. We have to provide options for them also. We are offering fuel efficient, sporty cars. I think such models are very, very important for customers”, he said.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
