Maruti Suzuki India, the country's largest maker of passenger cars, wants to add more layers to its dealerships with Nexa Studio and Arena Satellite outlets, to go with its existing Arena and Nexa showrooms. Clearly, the company has come a long way from 2015, when it raised eyebrows with its decision to start the Nexa channel for a more premium buying experience. But Nexa, which started with the S-Cross, a crossover between a sedan and a sports utility vehicle, has come good. In nine years, it has sold 2.7 million vehicles and grown steadily to contribute 33 per cent of the company's sales in 2023-24. Last financial year, the Nexa lineup - which now includes Baleno (the second Nexa vehicle after the S-Cross), Grand Vitara, Fronx, Invicto, Jimny, Ignis, XL6, and Ciaz - grew by 45 per cent.
Meanwhile, the Arena line has continued to offer more mass market vehicles such as the Swift, Brezza, Wagon R, Ertiga, and others.
India's passenger vehicle market is the third largest in the world now, at more than 4 million units a year, but car ownership remains low, at 3 per cent of the population. This signals a huge potential to deepen penetration. With its multi-channel strategy, Maruti aims to do that. And it is not alone. With the rise of electric vehicles (EVs), others, too, are compelled to look for differentiators. Tata Motors, for example, has started the Tata.eV range of showrooms.
A new Nexa a day
"In Tier-II and -III cities, there is more affinity for hatchbacks, while big cities prefer SUVs," Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki, tells Business Standard.
According to him, in the digital era there is no real divide between rural and urban markets. "We have already had a concept of mobile showrooms in the Arena channel. We are testing markets and wherever we see potential, we can plan these satellite showrooms - Arena Satellite," he says.
Diese Geschichte stammt aus der October 02, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 02, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
DELHI TURNS 'SMOKING' CAPITAL
SC flags 'wrong approach' in enforcing anti-pollution curbs
Farm fires blaze to a 5-yr high in Delhi, Rajasthan
Farm fire incidents in Rajasthan and Delhi have reached their highest levels since 2020, with Rajasthan reporting 2,060 cases and Delhi witnessing 12, according to data from the Indian Agricultural Research Institute (IARI).
Over 370 flights delayed at Delhi Airport
More than 370 flights, including departures and arrivals, were delayed at the Delhi Airport on Monday until 2 pm due to dense fog and pollution.
TAKING NOTE
Did demonetisation hitthe right notes? How cloes it sound eightyears on?
NTPC Green Energy gets a thumbs up from analysts
Opportunityto invest in leading RE player a positive for longterm
Mkts fall on selling in IT, oil shares
Benchmark Sensex declined by 241 points while broader Nifty fell for the seventh session in a row on Monday following a sell-off in IT and oil shares amid unabated foreign fund outflows and weak leads from the US markets.
Sebi orders altGraaf, two other platforms to cease operations
The Securities and Exchange Board of India (Sebi) on Monday issued a \"cease and desist\" order against three online bond platforms operating without registration with the stock exchanges.
MGL, IGL sink up to 20% after cut in priority gas allocation
Shares of city gas distribution (CGD) companies Mahanagar Gas (MGL) and Indraprastha Gas (IGL) plunged up to 20 per cent on the BSE on Monday after the central government further reduced the administered price mechanism (APM) allocation of domestic gas to them.
FPI under-owning gives India moat among EMs: CLSA MD
In a world less friendly for emerging markets (EMs), there is a case to up India's weight, CLSA's Managing Director and Chief Equity Strategist Alexander Redman said on Monday, asserting that the relative under-ownership of Indian equities by foreign investors gives the country an edge over its EM peers.
Aluminium stocks soar on China's tax rebate cut
The shares of aluminium manufacturers rallied on Monday on the back of a sharp rise in the price of the lightweight metal over the weekend, following China's announcement that it will withdraw export tax rebate for the commodity.