Maruti Suzuki made the main organizational rejig overseeing competition
The largest car maker in India Maruti Suzuki has introduced a change in large organizations in the top cadres amid fears of competition that developed in the SUV room and the passenger vehicle segment.
The company has lost a market share from 51 percent to 47 percent in the current quarter, while the market share of KIA and Hyundai increased and established around 23 percent in FY21, reported CNBC-TV18.
According to a report citing the source, two Joint Management Directors have been appointed from Maruti’s subsidiaries – Suzuki Motor Company – to help the executing director now Kenichi Ayukawa.
The two Managing Managing Directors are: H Takeuchi for Commercial and S Tori for the production and supply chain, the report said.
Meanwhile, Shashank Srivastava and Partho Banerjee have increased to the position of Senior Executive Director and RAM Suresh Akela, who is the national head, sales have increased to the executive director post – he said.
New leadership changes are valid since the first quarter of 2021-22.
The company moves more aggressively on cost cutting steps during the Covid-19 pandemic period and focused on regaining market share again, adding the report.
On July 9, the company announced a national roll-out of the digital platform that provides online end-to-end car financing solutions. The company, which has launched Maruti Suzuki Smart Finance in the city-limited city in December 2020, said it is now available throughout India for customers of both arenas (mass retail chains) and Nexa (premium cars).
It has 14 prominent financiers, including HDFC Bank, ICICI Bank, Bank Yes, AXIS Bank, State Bank of India, Bank of Industry, Bank of Baroda, Mahindra Finance, and Sundaram Finance.
MSI Senior Executive Director (Marketing & Sales) Shashank Srivastava Even before walking to a car dealer, most potential buyers have started their shopping process online – browse cars and financial options.
Given the changing customer behavior, the company has launched Maruti Suzuki Smart Finance, a digital platform that allows customers with end-to-end online car financing solutions, he added.
