Maruti Suzuki logo.
Credit: Reuters File Photo
Bengaluru: Maruti Suzuki India is aiming to export 1 million vehicles by the financial year (FY) 2030.
At the launch of the 500th NEXA sales outlet, Partho Banerjee, senior executive officer, explained that the company had exported close to 2.5 lakh vehicles last year out of the total sales of 21,35,323 vehicles.
Also, amid the concerns of high levels of unsold inventory in the automotive industry, he said that it has only 38 days of unsold inventory with the dealers across India.
"I can't speak for other Original Equipment Manufacturers (OEMs), but across India, Maruti's dealership network had an inventory stock of 38 days. Typically, a normal inventory level is around 30-31 days. Before the Covid-19 pandemic, having 38 days of inventory was considered standard. However, we will bring it down and to align with demand, we adjusted our production in July," he elaborated.
When asked about the outlook for the industry, he said, "It will be a single digit for the industry due to the high base last year and sluggish demand seen in the summer. And, we will post a single digit growth in line with the industry's."
With this 500th NEXA sales outlet, Maruti Suzuki’s sales network (ARENA, NEXA and Commercial) now extends to 3,925 outlets covering 2,577 towns and cities.
In FY 23-24, with sales of over 5.61 lakh vehicles, NEXA posted a growth of 54 per cent over the previous financial year, outpacing the industry growth. NEXA accounts for almost 30 per cent of Maruti Suzuki’s domestic sales.