Maruti Car Bookings Cross 4 Lakh In Jan 2023
Current pending customer orders of Maruti Suzuki India – MSIL’s Strong Performance and Future Plans in the Auto Industry
Maruti Suzuki India’s growth in pending orders this January is a testament to the popularity of the company’s offerings. This includes its new launches that have further boosted bookings. MSIL has for years banked on successful expansion in the Indian auto market. And, with its unveils and launches at Auto Expo 2023 designed to impress, growth trends are further cemented.
In Q3 2022, MSIL had around 3.63 lakh pending customer orders. A number that has now risen to 4.05 lakh units this month. An increase of about 42k units MoM at 11.57 percent bookings growth. More than a 3rd of January bookings is attributed to Suzuki Jimny, and Fronx. Increase in orders has been fuelled by a steady flow of bookings. And the launch of two new vehicles – Jimny SUV, and smaller Fronx cross/UV has helped in part.
Bookings for Jimny and Fronx
Jimny was much awaited. And as expected, has seen a huge surge in popularity, and interest. Bookings have crossed 15,000 units, having grown by around 1,000 per day. Fronx has also received a positive response, with bookings at around 300 per day. This accounts for about bookings of about 4k units.
While both new models were unveiled at Auto Expo 2023, price announcements are pending. And are scheduled for launch this spring (March, April). Increase in pending orders continues to be a strong growth indicator. And is entirely driven by positive customer response. On a YoY basis, inquiries are up 28 percent, and bookings up 16 percent compared to January 2022.
MSIL Future plans – Maruti Suzuki plans to reach its carbon neutrality goals by 2070,through a diverse portfolio of BEVs (full electric), HEVs (hybrid electric), and green fuel options (CNG, biogas). Its first BEV launch in India is scheduled for FY2024. MSIL will have 6 new BEV models by FY2030, accounting for 15 percent of its total production. HEVs will account for 25 percent of total production.
Potential electric car models include Jimny EV, Fronx EV, and WagonR EV. Currently, Maruti offers a strong hybrid option with Grand Vitara compact SUV. By FY2030, ICE-based cars will make up 60 percent of total production. And will be cleaner, running on green fuels – CNG, biogas, and ethanol-mixed fuel.
Shortage of electronic components and how it impacted MSIL production in Q3
In recent times, Indian auto manufacturers grappled with chips/semiconductor shortages. Maruti Suzuki India too was caught in the shortage spiral that affected production. Particularly in Q3, when the electronic component shortage impacted production of around 46k vehicles.
However, an improvement in semiconductor supplies has improved the situation. MSIL is continually chipping away at its pending orders with an improvement in production capacity. A positive sentiment for stable production possibility has been essayed by other manufacturers too. This positive turn of events started to take effect through H2 2022.
Growth in sales from 2021 to 2022
With sales growth of 16 percent, Maruti reported 2022 sales at 15.76 lakh units in 2022 up from 13.64 lakh units in 2021. In conclusion, Maruti Suzuki India’s growth in pending orders this January is a clear indication of the company’s strength in the Indian auto market.
Launch of two new SUVs, Jimny and Fronx, has further boosted the company’s success. As expected, response from customers has been overwhelmingly positive. Despite some challenges in production, the company has been able to overcome them and continue its growth trajectory, making it a major player in the Indian auto market.
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