India’s largest carmaker, Maruti Suzuki India Ltd. have set an aim to grow at double the estimated industry rate, which is about 4-5 per cent to about 9-10 per cent in the financial year 2014-15. The bullish outlook from the company comes at a time when the buying sentiment is yet to pick up and when the customers are continuing to defer buying cars.
However, the company is banking on the rural markets to achieve the target in the current fiscal. “We are bullish on our exchange program, a rural area continues to do well for the company and we expect niche marketing to bring in incremental numbers. The whole effort this year is to harvest more than what we seeded. That is our work, that is our challenge this year.” Mr Mayan Pareek, a senior executive officer said.
Maruti Suzuki has adopted a strategy to reach out to customers, instead of waiting for customers to come to the showroom. The carmaker is reaching out to customers in rural markets and target groups and banking on exchange programs to bring in incremental volumes. The automaker who already has a massive distribution network of 1,331 outlets across the country, aims to double the reach in the next three years. To put that in light, it took the company three decades to reach that sort of serious expansion in the country.