Maruti Suzuki's big plan to deal with the recession, Know details

Sep 12 2019 01:36 PM
Maruti Suzuki's big plan to deal with the recession, Know details

Maruti Suzuki, the country's largest car company, is ready to fulfill its responsibility in the era of recession. Maruti is not only preparing to expand on a large scale, but is also finalizing its preparations according to the electric car market. A new attempt has been started to entice government employees and teachers to buy a new car. To increase the availability of auto loans in rural areas, the company is also preparing to distribute loans through regional rural banks. 

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Shashank Srivastava, executive director (marketing and sales), Maruti Suzuki India Limited told that the festival season is the best time to overcome the market downturn. This time two things are looking positive. One, the RBI has directed banks to link retail loans with repo rates, due to which auto loans are also expected to be cheaper.

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The share of the rural area is about 25 per cent of the total sales of Maruti Suzuki. There is a plan to distribute auto loans through regional rural banks to create new customers in rural areas. In recent times, due to a variety of reasons, the pace of loans being disbursed by non-banking financial companies has reduced considerably. About 80-85 per cent of cars in India are sold through auto loans. Maruti Suzuki believes that this problem can be solved to some extent through regional rural banks. According to Srivastava, 'In challenging times we are trying to try new things in every way. For example, customers have started the facility to see or drive a car at their home or at their office.

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According to media reports, Maruti Suzuki has recently launched XL-6 MPV and by the end of this month, a new car named S-Presso is going to be launched in the Indian market. In this way, two new cars of Maruti Suzuki will be in the market in the festive season. This will also help in attracting customers. It is clear that despite the recession, preparations for launching new products have not been affected. The third manufacturing line of the company's new factory in Gujarat will also be operational early next year. In view of the increased cost of dealers, Maruti Suzuki will create 100 new showrooms and workshops across the country and allocate them among the dealers on lease. The company had decided this last year. Construction work of these showrooms with an area of 3,000 sq ft to 5,000 sq ft is going on fast and they will be allotted through a lottery from next financial year.

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