Business Maruti Suzuki 2011 - Maruti Suzuki expects exports to dip by 10,000 units in this fiscal
Country’s largest car maker Maruti Suzuki has forecasted the export figures of the company to dip by 10,000 units in the current financial year. As per a statement given by a senior executive of the company, the ongoing financial crisis in the European market is to be blamed for the slowdown in exports.
While speaking to reporters in Hyderabad, Executive Managing Officer (Engineering) at Maruti Suzuki, I V Rao, said that the exports of the company may reach 1.3 lakh units in the current fiscal as compared to 1.4 lakh units dispatched to the overseas markets in last fiscal.
According to Mr. Rao, "Majorly, the exports are of A-star car to Europe. Because of the slowdown, the exports to Europe have come down. We have developed new markets like Latin American countries where exports began. Last year exports were at 1.4 lakh units and this year we may be touching 1.3 lakh units."
Besides the financial crisis, one more reason behind the dip in exports to the European markets is the withdrawal of the scrappage scheme by some European nations last year. In this scheme, the governments of these countries were offering incentives to the buyers for shifting to smaller and fuel efficient cars.
At present, about 80 percent exports of the Maruti A-Star come from European markets.
While speaking to reporters in Hyderabad, Executive Managing Officer (Engineering) at Maruti Suzuki, I V Rao, said that the exports of the company may reach 1.3 lakh units in the current fiscal as compared to 1.4 lakh units dispatched to the overseas markets in last fiscal.
According to Mr. Rao, "Majorly, the exports are of A-star car to Europe. Because of the slowdown, the exports to Europe have come down. We have developed new markets like Latin American countries where exports began. Last year exports were at 1.4 lakh units and this year we may be touching 1.3 lakh units."
Besides the financial crisis, one more reason behind the dip in exports to the European markets is the withdrawal of the scrappage scheme by some European nations last year. In this scheme, the governments of these countries were offering incentives to the buyers for shifting to smaller and fuel efficient cars.
At present, about 80 percent exports of the Maruti A-Star come from European markets.
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