High cost of acquisition real threat: Maruti Suzuki

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Likewise, a rise in input costs had led the automobile manufacturer to raise prices in January.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> In a conversation with IANS, Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India, described the phenomenon as a "real threat" to the buyers' sentiments.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> "During the last fiscal, when the sales went down in the industry, one of the biggest reasons given was that the cost of acquisition of vehicles went up in forms of taxations, insurance and road tax. India's economy, unlike Japan and the European economies, is still price sensitive. Therefore, the rising cost of acquisition is a real threat," Srivastava said.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> According to Srivastava, the earlier rise was on account of an increase in regulatory levies, but now the industry is grappling with high costs of steel, plastics and rare metals.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> "Prices of all these commodities have gone up. Vehicle cost is going up dramatically," he said.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> At present, 70 per cent of the overall vehicle cost is that of manufacturing materials. However, this phenomenon is being countered by easy availability of finance as well as low interest rates.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> "On the other hand, the counter of liquidity is there. If the vehicle is worth purchasing now, then the consumers go for financing. But in balance, the cost of acquisition going up is a bigger threat," he said.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> Last month, the automobile major's overall sales grew by 11.8 per cent on a year-on-year basis. The company sold 164,469 units in February, against 1,47,110 units sold in the corresponding month of 2020.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> On a sequential basis, it had sold 160,752 units in January 2021.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> Besides, Srivastava cited that an element of pent-up demand is still at play as the industry is still suffering from a fall of (-)12 per cent in sales during April-February FY21 on a YoY basis.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> "Future demand depends on how the economy moves, there is a high correlation for auto sales and per capita GDP income growth," he said.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> On the future fuel mix, he pointed out that emission norms will get more stringent in the days to come, which will eventually lead to hybridisation of powertrains.</div> <div style="text-align:justify;color:#000;font-family:'Roboto',sans-serif;line-height:24px;font-size:14px;font-weight:normal;"> "CNG is a good option for India. The fuel is cheap and the cost of acquisition for CNG vehicles is also low. In comparison, pure EVs cost 2.5 times more than a normal vehicle. Similar type of specification in a CNG-run vehicle comes to about Rs 75,000 more than a petrol variant of the same specs," Srivastava said.</div></div>  <div> <p style="color: #000;"><strong>Read More News : </strong></p> <p><strong><a href="https://www.siliconindia.com/news/life/little-stress-a-day-good-for-your-brain-nid-215620-cid-51.html">Little stress a day good for your brain</a></strong></p> <p><strong><a href="https://www.siliconindia.com/news/life/madhya-pradesh-cm-to-release-\hero-kikahani\-on-march-25th-in-bhopal-nid-215605-cid-51.html">Madhya Pradesh CM to release 'Hero kiKahani' on March 25th in Bhopal</a></strong></p> </div>  <span style="font-family:Arial, Helvetica, sans-serif; font-size:11px; color: #999999;">Source: IANS</span> <div class="col-lg-12 col-md-12" style="padding: 0px;margin-top: 10px;"> <div class="col-lg-6 col-md-6" style="padding: 0px;"> </div> <div class="col-lg-6 col-md-6" style="padding: 0px;"> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="col-md-4">  <div class="sidebar side-bar right-sidebar"> <div class="widget sidebar-featured-post" style="margin-bottom: 0px;"> <div style="margin-bottom: 7px;" class="section-title blue-border"> <h3 class="side-title" style="margin: 0 0 0px;">ON THE DECK</h3> </div> </div> <div class="widget sidebar-featured-post"> <div class="cp-sidebar-content"> <div id="carousel-example-generic" class="carousel slide" data-ride="carousel" data-interval="4000"> <div class="carousel-inner" role="listbox" style="width:83% !important;"> <div class="item active"> <a href="https://startup.siliconindia.com/magazine/november-2024-issue-special7-corporate-video-production-services-startups.html"><img src="/images/simag_images/uploaded_images/mag_cover/f1h9nCover.jpg" alt="Engage, Evolve & Elevate Business Through Videos" title="Engage, Evolve & Elevate Business Through Videos"></a> <div class="cp-post-content"> <div class="catname"></div><h3><a href="https://startup.siliconindia.com/magazine/november-2024-issue-special7-corporate-video-production-services-startups.html">Engage, Evolve & Elevate Business Through Videos</a></h3> </div> </div> <div class="item "> <a href="https://startup.siliconindia.com/magazine/november-2024-issue-special6-ev-charging-startups.html"><img src="/images/simag_images/uploaded_images/mag_cover/iof60unnamed.jpg" alt="EV Charging Infrastructure - The Need of The Hour" title="EV Charging Infrastructure - The Need of The Hour"></a> <div class="cp-post-content"> <div class="catname"></div><h3><a href="https://startup.siliconindia.com/magazine/november-2024-issue-special6-ev-charging-startups.html">EV Charging Infrastructure - The Need of The...</a></h3> </div> </div> <div class="item "> <a href="https://realestate.siliconindia.com/magazine/november-2024-issue-special2-holiday-homes-builders-developers-in-india.html"><img src="/images/simag_images/uploaded_images/mag_cover/qb7x9cover - 1.jpg" alt="Aratt Developers : Curating World-Class Projects Wrapped In Luxurious Amenities" title="Aratt Developers : Curating World-Class Projects Wrapped In Luxurious Amenities"></a> <div class="cp-post-content"> <div class="catname"></div><h3><a href="https://realestate.siliconindia.com/magazine/november-2024-issue-special2-holiday-homes-builders-developers-in-india.html">Aratt Developers : Curating World-Class...</a></h3> </div> </div> <div class="item "> <a href="https://enterprise-services.siliconindia.com/magazine/november-2024-issue-special1-waste-management-companies.html"><img src="/images/simag_images/uploaded_images/mag_cover/45sb0unnamed (1).jpg" alt="Call And Fx: Innovating Waste Management for a Greener Tomorrow" title="Call And Fx: Innovating Waste Management for a Greener Tomorrow"></a> <div class="cp-post-content"> <div class="catname"></div><h3><a href="https://enterprise-services.siliconindia.com/magazine/november-2024-issue-special1-waste-management-companies.html">Call And Fx: Innovating Waste Management for...</a></h3> </div> </div> <div class="item "> <a href="https://special.siliconindia.com/magazine/november-2024-issue-special1-best-companies-to-work-for-ii.html"><img src="/images/simag_images/uploaded_images/mag_cover/kx541cvr250.jpg" alt="Ezyhire : An HR Tech Partner Committed To Strengthening Employer-Emlpoyee Bond" title="Ezyhire : An HR Tech Partner Committed To Strengthening Employer-Emlpoyee Bond"></a> <div class="cp-post-content"> <div class="catname"></div><h3><a href="https://special.siliconindia.com/magazine/november-2024-issue-special1-best-companies-to-work-for-ii.html">Ezyhire : An HR Tech Partner Committed To...</a></h3> </div> </div> </div> </div> </div> </div>  <style> img#clever-85880-1109168-cube-close {display:none;} </style> <div style="display:inline-block;"><div id='div-gpt-ad-1729597907775-0' style='min-width:300px; 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