India needs low-cost small cars: Maruti Suzuki chairman
Small car market will revive and a large segment of people at the lower end who are still scooter owners and want a more convenient, safer mode of transport, says R.C. Bhargava.
Small car market will revive and a large segment of people at the lower end who are still scooter owners and want a more convenient, safer mode of transport, says R.C. Bhargava.
RC Bhargava says Maruti Suzuki awaits a policy framework that would lead to the promotion of all technologies.
While hybrids outsold electric vehicles in the last six months of the financial year 2023-24, they accounted for just 2.1% of total car sales.
The company also plans to add six electric vehicles to its portfolio by FY31. The sale of its model will begin in FY25.
At 28%—the highest slab of GST—and a compensation cess ranging between 1% and 22%, India's policy of heavily taxing passenger vehicles is dulling the prospects of growth in the industry, says Bhargava
Price hikes and higher interest rates have failed to come in the way of India's love for cars.
Although Maruti's vast customer base in entry-level cars can help alleviate the price hike post-implementation of the six-airbags mandate, it has little hope of the segment recovering.
In India, car penetration continues to remain low, especially compared to the western economies, says former CEO and current chairman of Maruti Suzuki India.
Bhargava believes India’s EV adoption will further gatekeep car ownership. Until geographical and economical fundamentals don't shift favourably, he believes CNG is a more democratising fuel source
The new mid-term management plan unveiled by Suzuki may roughly translate to sales of 1.9 million units in India by 2025-26. R.C. Bhargava, chairman of Maruti Suzuki India, says it's a cakewalk.