Maruti Suzuki India's Foray into Africa
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Code : COS0109
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Region : India, Africa and Europe |
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Introduction: Maruti Suzuki India Limited (Maruti), India’s largest car company by production and sales (Refer to Annexure – I for production and sales of leading car companies in India), was preparing to strengthen its export base in Africa. One of the first Indian automobile manufacturers to gain popularity in the overseas market, Maruti had been exporting cars to European markets since mid 1980s. However, with the changed dynamics between 2009 and 2012, the company had decided to target the African market to spread its geographic risk. By 2013, Africa had become Maruti’s largest export destination, overtaking Europe. In fiscal 2012-13 , Maruti’s exports to Africa registered a 50% growth compared to the previous fiscal and contributed to 30% of the company’s total exports. With many African countries trailing India’s economic development by over two decades, analysts commented that Maruti’s strategies in India since its inception in 1981 would help it achieve similar success in Africa. |
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