MARUTI SUZUKI TARGETS 4 M CARS BY 2030, REVEALS SHASHANK SRIVASTAVA

Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki speaks to The Business Guardian as he flags challenges of interest rates and rural growth.

H aving reached the 2 million milestone in 2023, Maruti Suzuki expects to go to 4 million cars by 2030, says Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki to The Sunday Guardian as he flags challenges of interest rates and rural growth.

Q1 After an eventful year, what is the outlook for Maruti Suzuki for 2024? For the whole calendar year 2023, Maruti Suzuki crossed the sales mark of 2 million units, which I think was a milestone in our journey that we have been wanting.

Last year we fell short. So going forward our projection is that we should do the 4 million sales mark by 2030-31.

As for the industry perspective, in 2023 we had total sales of 41.1 million. It was the first time that we crossed the 4 million mark.

Two things that came out clearly this year was, first that the number of pending bookings which was there in the industry came down drastically in 2023. During the course of the year the semi conducter crisis sort of went away and therefore we could produce vehicles cars as we wanted from January 2023 onwards. The waiting period for most models also came down.

The industry stock in the beginning of the year was small due to various supply chain constraints and the demand was higher than the supply. These are not there this year - 2024. With the base becoming quite high, my expectation is that the year 2024 should be at good level as the GDP growth is positive for the industry. I would expect on a high base, low growth or a single digit growth for the industry over 2023.