Suzuki Motor has achieved revenue and profit targets
The Japanese auto giant, Suzuki Motor Corporation has announced its plans for the future while reviewing the current mid-term management plan (Japanese FY2021 to FY2025)-(Indian FY2022 to FY2026). As per the latest update, the brand is planning to rethink its strategy in India amid the changing business environment in the country resulting from a decline in the market share and increased competition in the electric vehicles segment.
The Japanese manufacturer also claims that the company has already achieved revenue and profit targets before the schedule because of improvement in sales accompanied by an increase in quality and favourable exchange rate. However, the sales volume target still could not be met. It is to be noted that the brand had set the target of achieving 50 per cent market share in the country by FY25. Although, they managed to get around 41.6 per cent despite the introduction of SUVs.
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Suzuki aimed to achieve a revenue of 4.8 trillion Yen by FY-25 (Indian FY26). By the conclusion of the previous financial year, the company had already recorded a revenue of 5.4 trillion Yen.
"The company actively promoted carbon neutrality initiatives, including electrification, and made progress in establishing the groundwork for growth. On the other hand, the business environment has changed due to declining market share in India and intensified competition in electric vehicles. Need to rethink strategy," stated the management in the recently revealed investor presentation.
According to the company, India is set to become the key market for Suzuki's growth in the future. They also noted that the competitive environment in India is becoming more intense, with many companies competing for market share. This competition is creating a demand for improvements in product features, equipment, and services.
The Japanese manufacturer also claims that the company has already achieved revenue and profit targets before the schedule because of improvement in sales accompanied by an increase in quality and favourable exchange rate. However, the sales volume target still could not be met. It is to be noted that the brand had set the target of achieving 50 per cent market share in the country by FY25. Although, they managed to get around 41.6 per cent despite the introduction of SUVs.
Also Read: Bharat NCAP To Get Version 2.0 By October 2027; To Test ADAS Integration
Suzuki aimed to achieve a revenue of 4.8 trillion Yen by FY-25 (Indian FY26). By the conclusion of the previous financial year, the company had already recorded a revenue of 5.4 trillion Yen.
"The company actively promoted carbon neutrality initiatives, including electrification, and made progress in establishing the groundwork for growth. On the other hand, the business environment has changed due to declining market share in India and intensified competition in electric vehicles. Need to rethink strategy," stated the management in the recently revealed investor presentation.
According to the company, India is set to become the key market for Suzuki's growth in the future. They also noted that the competitive environment in India is becoming more intense, with many companies competing for market share. This competition is creating a demand for improvements in product features, equipment, and services.
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