Maruti Suzuki India exploring new export markets
Maruti Suzuki seems to beexploring for new markets in Latin America and other places to expand its overall overseas shipments as the existing exports to Europe have fallen by 20 per cent. Shinzo Nakanishi, Managing Director and CEO, Maruti Suzuki India recently said that the company needs to find new markets in lieu of its diminishing exports. He added that last year only 1.21 lakh units were shipped to Europe out of a total of 1.47 lakh units exported.
The auto market of Europe is still recovering from the economic downturn of 2008-09 as a result of which, many European countries offered incentives on buying new cars in exchange for old ones. This scheme helped in raising the demand but soon slipped after the scheme ended. Another senior company official said that Maruti Suzuki is now looking for new markets in Latin America, Middle-East, Eastern Europe and Australia.
MSI's exports were noticed as just 1.9 per cent at 10,743 units in the month of July as compared to 10,546 units in the same month, last year. Nakanishi further commented that Maruti Suzuki India will be seeking and exploring more opportunities to export its newly launched Alto-K10 although it will be restricted only to the right hand drive markets.
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