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Maruti turns to Africa to boost petrol car sales
Posted on 11 Jul 20122,813 Views0 Comments
Maruti Suzuki, India's biggest carmaker by volume, plans to boost exports to Africa and South East Asia to utilize petrol-engined car capacity and to offset higher import costs after the rupee's fall
Maruti Suzuki aims to sell more petrol- engined vehicles abroad as Indians shift preference to cars running on diesel and “mitigate exchange risks,” Chief Financial Officer Ajay Seth said in an interview in New Delhi. The automaker will widen its offerings in countries it already exports to and add new markets, Shashank Srivastava, executive officer for product planning and international markets, said.
Increased exports will help Maruti offset the costs of importing components as the rupee has weakened 19 percent against the dollar in the past year. Subsidized diesel is priced 39 percent less than petrol in New Delhi, encouraging Indians to opt for vehicles that run on the cheaper fuel and spurring the carmaker to push to sell more petrol cars abroad.
“Markets such as Africa are seeing high growth and demand for our cars,” Seth said. “Most of the markets we are looking to export to are mainly petrol markets.”
Maruti has an annual capacity to make 1.25 million cars. It sold 1.13 million units in the year ended March 31. The New Delhi-based automaker is utilizing 70 percent of its 880,000 petrol-engined cars capacity, Seth had said on June 12.
The demand for diesel-engined variants has outpaced that for gasoline cars. Diesel-engined autos accounted for 39 percent of the 96,597 units sold in June, said Srivastava.
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