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Good Growth Will Soon Return To The Indian Car Market: Kenichi Ayukawa, MD, CEO, Maruti Suzuki

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Good Growth Will Soon Return To The Indian Car Market: Kenichi Ayukawa, MD, CEO, Maruti Suzuki

Nearly two years later, Maruti Suzuki launched a new model in the country. The company launched S-Presso in September 2019, and since then, we have seen a large number of changes and updates to the model series. Obviously, the times are difficult, and the company has a clear agenda for the release of new products.

Today, the company finally launched a new generation of Celerio, to some extent, this marked the beginning of the company’s series of product releases. During the launch of the new Celerio, Managing Director and CEO Kenichi Ayukawa outlined the dilemma stages the industry is going through. With the massive outbreak of the second wave earlier this year, it once again brought the industry to a standstill. However, according to the first wave of experience, the growth rate of production is much faster.

He went on to say that due to the unprecedented global electronic component supply crisis, the second quarter is another challenging period. In terms of sales volume, the industry may still be well below the best level for the 2018-19 fiscal year, but Ayukawa said the outlook is optimistic.

He said: “In general, due to the shortage of electronic components, I think there may be some supply constraints in the short term. But India’s mid- to long-term story continues to look promising.” He outlined three main areas that provide positive prospects for the industry. He pointed out that the country’s vaccination campaign is a confidence booster for business and economic recovery. Due to the strengthening of road infrastructure, and ultimately the energetic young population eager for growth and achievement, a huge driving force for the industry also follows. A private car is very suitable for his growth plan and lifestyle.

India is now the world’s fifth largest automotive market, and Maruti Suzuki contributed nearly half. The outlook for the coming year is positive. Although demand will exceed supply in the short term, things will be more streamlined as we enter the new fiscal year quarter.

News Source: NDTV

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