Maruti Gears Up to Export Baleno Across 100 Markets
India: Maruti Suzuki India (MSI), the
country’s largest carmaker, is planning to export the premium hatchback model, Baleno
to over 100 nations and as a part of their plan, the company is looking forward
to launch Baleno in Caribbean Islands and South Africa within few months. The
car which has already crossed 1 lakh sales milestone in the domestic market
will also be shipped to various countries in Latin America, South East Asia and
Middle East region.
"In following months it (Baleno) will be launched in Caribbean
Islands, Uruguay, Bolivia, Costa Rica, Honduras, Panama, Peru, South Africa,
Indonesia, Middle East countries like UAE, Oman, Kuwait, Lebanon, Qatar, Saudi
Arabia," as per company officials.
The company has already exported
38,000 units of this model to Germany, Denmark, Hungary, France, Iceland,
England, Austria, Netherlands, Sweden, Spain, Israel, Nepal, Italy, Greece,
Japan, Poland, Netherlands, Chile, Australia and Switzerland. Baleno got about
USD158.62 million investments for development and is being manufactured at the
MSI, Manesar plant.
According
to the TechSci Research report, “India
Tire Market Forecast & Opportunities, 2021’’,
the country’s tire market is forecast to witness a CAGR of over 9% during 2016-2021.
Though the replacement tire demand had a majority share in 2015, the OEM tire
demand is expected to outpace replacement tire demand during 2016-2021. In
2015, Northern region accounted for the largest share in India’s tire market,
followed by Southern, Eastern and Western regions of the country. Over the next
five years as well, Northern and Southern regions are forecast to continue
their market dominance and grab a cumulative market share of nearly 59% in
2021.
As per the TechSci Research, the recent move
taken by Maruti Suzuki India Limited (MSIL) to export Baleno across 100 nations
is anticipated to increase the OEM demand for tires within domestic market,
i.e. India and thus adding up to the further growth of overall Indian tire industry.