Brand Nexa comes into its own
Financial Express Mumbai|August 28, 2023
INITIAL YEARS OF SLUGGISHNESS MAKE WAY FOR ROBUST SALES
SWARAJ BAGGAONKAR
Brand Nexa comes into its own

"IF I HAD my way, I'd remove January from the calendar altogether and have an extra July instead," wrote Roald Dahl. The lines must resonate with the team at Maruti Suzuki. For the first time, the number of cars that rolled out from the carmaker's Nexa chain of outlets in July this year topped the volumes sold by rival Hyundai. Compared with 52,540 cars that drove out of the Nexa showrooms, the number that customers took home from Hyundai's outlets was 50,701.

To be sure, the premium showrooms of the Nexa network, which was put in place way back in 2015, have been doing brisk business over the past year or so. By one estimate, the volumes have averaged some 45,000 a month. But it wasn't always this way. In the initial years, dealers struggled to make ends meet because the models of the time - the first generation SCross, Ciaz, Ignis and the XL6- weren't exactly setting the market on fire. In fact, had it not been for the very popular Baleno, the Nexa showrooms would have seen even fewer footfalls.

As Chirag Jain, senior analyst at Emkay Global, points out, the economics for Nexa dealers wasn't too bad since the majority of them was already running an Arena outlet; typically, Maruti invites Arena dealers to set up Nexa showrooms. But there was, undoubtedly, stress. "The Nexa dealerships were newer and more plush which meant the dealers had incurred costs. Since the models launched saw subdued demand, there was some strain," Jain said. The slowdown in the passenger vehicle sector in 2018-2019 and the pandemic thereafter in 2020, and for the large part of 2021, only added to their woes.

Diese Geschichte stammt aus der August 28, 2023-Ausgabe von Financial Express Mumbai.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der August 28, 2023-Ausgabe von Financial Express Mumbai.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS FINANCIAL EXPRESS MUMBAIAlle anzeigen
Financial Express Mumbai

Murdoch ally helps Ambani build media empire in India

SOHEE KIM PR SANJAI

time-read
3 Minuten  |
April 18, 2024
Financial Express Mumbai

Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?

GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.

time-read
2 Minuten  |
April 18, 2024
Financial Express Mumbai

Nestle adds sugar to infant milk and cereal, finds report

A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

India-made Daimler's electric mini truck to hit the road soon

INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.

time-read
2 Minuten  |
April 18, 2024
Samsung eyes ₹10,000 cr from India TV biz this year
Financial Express Mumbai

Samsung eyes ₹10,000 cr from India TV biz this year

SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

Microsoft AI Copilot speed boost for coding

WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

US, China debt pose risks for global public finances: IMF

THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.

time-read
1 min  |
April 18, 2024
Financial Express Mumbai

Language models in consumer tech

This move is designed to ensure better user experience & privacy

time-read
2 Minuten  |
April 18, 2024
Financial Express Mumbai

'Data centres' energy use doubles every four years'

Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.

time-read
2 Minuten  |
April 18, 2024
Financial Express Mumbai

Vi FPO: Foreign players invest big; about ₹5,400 crore raised

GQG, Fidelity buy almost 40% of the anchor investor portion

time-read
1 min  |
April 18, 2024