Maruti Suzuki On Track To Export 8 Lakh Cars A Fiscal By End Of This Decade
Executive Director Rahul Bharti reiterated the target a day after Maruti Suzuki announced reaching the milestone of exporting more than 30 lakh made in India cars.
Maruti Suzuki India Ltd. is on track to meet its target of exporting 7.5 lakh to 8 lakh cars every fiscal by the end of this decade, said Rahul Bharti, the Swift maker's executive director-corporate affairs, on Tuesday.
Bharti’s statement comes a day after nation’s largest automaker announced reaching the milestone of exporting more than 30 lakh cars made in India so far.
The three-millionth unit was part of a shipment of 1,053 vehicles that were exported out of Gujarat’s Pipavav port on Nov. 24. Popular models including Celerio, Fronx, Jimny, Ciaz, Dzire and S-Presso were part of the shipment, the auto major said.
Talking to NDTV Profit, Bharti said that the company hoped to meet and exceed the target set for the current financial year and for the fiscal ending March 2031. Earlier in August, Bharti had told NDTV Profit that the company projected exports of 3 lakh units in the current financial year.
“Those targets stand. We hope to meet or exceed those targets of 3 lakh (units of cars to be exported) of this financial year, and maybe between 7.5 to 8 lakh (cars) by FY30-31. We seem to be on track,” he said.
The top executive noted that exports have picked up for Maruti Suzuki India and it is “quite strategic for the company”.
“The government fortunately has also identified exports as a strategic way of growth for a journey towards Viksit Bharat. India can target a much bigger pie of the global trade and that's what Maruti's effort is,” Bharti emphasised.
Bharti further revealed plans of the company to re-enter the European markets, after it re-entered Japan.
“We export to about 100 countries of the world but of course there are some countries which have much higher numbers than the others. So we have Latin America like Mexico and Chile, we have Middle East like Saudi Arabia or UAE, we have south east Asia like Indonesia and now will be recently re-entered Japan and we would be re-entering Europe after some brief lull,” he said.
The company exported its first million cars in 24 years and 8 months since inception, the second million took about 8 years and 10 months, and the third million was achieved in just 3 years and 9 months, according to Bharti.
“I believe going into the future it will be much faster than that,” Bharti said.
He noted that Jimny, Baleno, S-Presso, Fronx and DZire continue to be the top models for export.
Shares of Maruti Suzuki India Ltd. dropped as much as 1.11% in early trade to hit an intraday low of Rs 10,902.30 apiece on the NSE on Tuesday. The auto stock was trading 0.55% lower at Rs 10,964.40 apiece on the NSE at 12:40 pm, compared to 0.22% decline in benchmark Nifty.
