The country's largest carmaker Maruti Suzuki India (MSI) on Monday said the company has a delivery backlog of four lakh vehicles, with demand riding high on the back of the recent launch of new models in the market, especially the Grand Vitara and the new Brezza.
In an exclusive interview with CNBC-TV18, Shashank Srivastava, MSI Executive Director, said on August 29 that the company has not been able to supply as many vehicles, "As a result, we have seen a build-up reach the 100 percent mark.”
Srivastava said for the auto industry, the festive season is really very important, with 25-27 percent of the annual retail happening in this festive period.
"This year also I think we will see a very strong festive season because almost all manufacturers, all OEMs, have those pending bookings, and in the past few months the production has got better. So we are confident that industry will see some very good numbers in this festive season," he said.
Further, Srivastava said the festive season discounts are a function of demand and supply gap, "In most of the models, the demand seems to be higher than the supply and therefore I don’t expect the discounts to be high this year."
Vivek Chand Sehgal, Chairman of The Samvardhana Motherson International Group, said, "We hope to announce some new deal soon. We are doing a lot of due diligence and looking at all the aspects of it. We believe that the carmakers are in the best position to tell us where he wants comfort and that is where we go in and focus on those companies."
He added, "We at this particular moment are looking at almost 7-8 new acquisitions that should happen, they are around the corner. However, growth in new countries is going to be very important."