Automobile manufacturer Maruti Suzuki bolsters progression through GST relief, focus on Victoris models, and prioritization of vehicle safety
Maruti Suzuki, the leading automobile manufacturer in India, has announced a new strategic focus on safety and technology, aiming to further solidify its position in the industry.
Prioritizing Safety
The company has made a commitment to standardize the Electronic Stability Programme (ESP) across all its models and introduce six airbags as standard in 14 variants. This move demonstrates Maruti Suzuki's dedication to ensuring the highest levels of safety for its customers.
Expanding in the Used-Car Market
Maruti Suzuki's used-car business under True Value is proving to be a significant advantage in the pre-owned market. The trusted brand and robust after-sales ecosystem are key factors in the success of this venture.
GST Benefits and Increased Enquiries
The company has passed on the full Goods and Services Tax (GST) benefit to customers, including servicing and spares. This decision, coupled with the recent GST cuts, has led to a 15% increase in enquiries.
Focus on Technology
Maruti Suzuki's approach to technology is agnostic, with a focus on Internal Combustion Engine (ICE), Compressed Natural Gas (CNG), hybrid, and Electric Vehicle (EV) technologies. This versatile strategy positions the company well for the future of the automotive industry.
Achieving Safety Milestones
The fourth generation Maruti Suzuki Dzire and the Victoris have both achieved 5-star safety ratings in both Global NCAP and Bharat NCAP, underscoring the company's commitment to safety.
The Victoris: A Game Changer
The Victoris, positioned between the Brezza and Grand Vitara, is being prepared for export to over 100 markets. Advanced safety features like ADAS Level 2 have been rolled out, making the Victoris the first Maruti Suzuki model in India to carry this technology. The most likely market launch period for the Maruti Suzuki Victoris is expected in early 2026.
Education and Awareness
Campaigns like Nexa Safety Shield and Arena Safety Shield aim to educate customers about the importance of safety beyond just airbags, including structural strength, braking systems, and driver-assist technologies.
Looking Forward
Paartho Banerjee, Head of Sales & Marketing at Maruti Suzuki, expects a return to a historical growth trajectory of 6-7% Compound Annual Growth Rate (CAGR) in the medium term. The company aims to get back to 50% passenger vehicle market share, a goal that leans heavily on the newly launched Victoris.
A Strong Retail Network
Maruti Suzuki's retail network remains strong, with Arena having over 4,000 outlets and Nexa growing to nearly 700, including 200 new studio outlets in the past year.
In conclusion, Maruti Suzuki's strategic focus on safety, technology, and expansion is a testament to its commitment to its customers and the industry. The GST revision and the launch of the Victoris are significant catalysts for the company's growth, positioning Maruti Suzuki for continued success in the future.
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