Speaking during the launch of the new-gen Celerio, Kenichi Ayukawa, MD & CEO, Maruti Suzuki said that while there may be some supply side constraints in the short term due to shortage of electronic components, the medium and long term India story continues to look promising.
see photosKenichi Ayukawa, Managing Director and CEO, Maruti Suzuki India at the launch of the new Celerio
Maruti Suzuki has launched a new model in the country after almost two years. The company launched the S-Presso in September 2019 and since then we have seen several facelifts and updates across the model range. Obviously, times were tough and the company had a clear agenda in mind regarding the new launch. Today, finally, the company launched the all-new generation of Celerio And in a way, it marks the beginning of several launches from the company. Speaking during the launch proceedings of the All New Celerio, Kenichi Ayukawa, Managing Director and CEO, maruti suzuki Underlined the difficult times the industry was going through. With the massive outbreak of the second wave earlier this year, it brought the industry to a standstill. However, with the learning from the first wave the production boom was fairly rapid.
Read also: New Generation Maruti Suzuki Celerio Launched in India; Prices start from ₹ 4.99 Lakh
Kenichi Ayukawa says that while the second wave brought the industry to a halt once again, the learnings from the first wave helped increase production rapidly.
He said the second quarter was another challenging period due to the unprecedented global supply crunch for electronic components. In terms of volumes, the industry may be well below the best of FY2018-19, but according to Ayukawa, the outlook is positive.
“Overall, I think there may be some supply side constraints in the short term due to shortage of electronic components. But the medium and long term India story looks promising,” he added.
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India is now the fifth largest car market globally and Maruti Suzuki contributes almost half of this volume
He outlined three key areas that provide a positive outlook to the industry. He described the vaccination campaign being run by the country as a confidence booster for business and economic recovery. The industry has also received a major boost thanks to the road infrastructure being strengthened and finally a vibrant, young population aspiring for growth and fulfillment. A personal car fits well into his growth plans and lifestyle.
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India is now the fifth largest car market globally and Maruti Suzuki accounts for almost half of it. The outlook for the year ahead is positive and while demand will exceed supply in the short term, things will be more streamlined as we move into a new quarter of the fiscal year.
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