DennisM2
By doing this, the company aims to reclaim its portion of the Indian market, which used to be over 50 percent but has dropped to 41 percent in the last five years. Furthermore, numerous vehicles manufactured in the nation are shipped abroad.
Maruti Suzuki's executive vice-president Kenichi Ayukawa told the FT that over the past 40 years, the firm has viewed only 200-300 million affluent Indians as possible clients, indicating a need to broaden its scope.
India has a population of 1.4 billion people. “We must consider the next billion ... and how we will develop a strategy for reaching these individuals,” he remarked.
Ayukawa served as the chief executive officer of Maruti Suzuki for nine years until 2022. He stated that the company is focused on “connecting with individuals in rural regions, discovering what they anticipate”. “These will be our customers in the future,” he added.
Suzuki, holding 58 percent of the Indian automobile manufacturer, intends to invest 1.2 trillion yen ($8.5 billion) to boost production and launch new models in India over the next five years. However, analysts think that its efforts to recover lost market share will face escalating competition and stricter domestic emissions and safety regulations.
source: ft.com
Maruti Suzuki's executive vice-president Kenichi Ayukawa told the FT that over the past 40 years, the firm has viewed only 200-300 million affluent Indians as possible clients, indicating a need to broaden its scope.
India has a population of 1.4 billion people. “We must consider the next billion ... and how we will develop a strategy for reaching these individuals,” he remarked.
Ayukawa served as the chief executive officer of Maruti Suzuki for nine years until 2022. He stated that the company is focused on “connecting with individuals in rural regions, discovering what they anticipate”. “These will be our customers in the future,” he added.
Suzuki, holding 58 percent of the Indian automobile manufacturer, intends to invest 1.2 trillion yen ($8.5 billion) to boost production and launch new models in India over the next five years. However, analysts think that its efforts to recover lost market share will face escalating competition and stricter domestic emissions and safety regulations.
source: ft.com
