Mayank Pareek, managing executive officer-marketing & sales, Maruti Suzuki, says the company will increase its production of Celerio on the back of robust bookings.
Despite the economic condition, automatic variants have taken the market by storm.
Mayank Pareek
MEO- Marketing & Sales
Maruti Suzuki
After the success of Celerio, Maruti is ready with yet another launch, the mid-sized Sedan Ciaz. The company will be launching it in Q2FY15. Celerio has done phenomenally well even during the slowdown. The car has 30,000 bookings. And with March being a traditionally a good month, the company expects to better its February sales numbers.
Also read: How Maruti is shaking up the market
Speaking to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, Mayank Pareek, managing executive officer-marketing & sales, Maruti Suzuki says that the launch of Ciaz doesn't mean that the customers are phasing out the SX4 sedan but is instead a move to strengthen the company's portfolio.
On the success of the Celerio, Pareek says, "These automatic variants have taken the market by storm. So we are now working on increasing our capacity for Celerio production."
Pareek adds that capacity isn't as much an issue as the supply to the vendor and the company is now actively working towards improving the same.
"I am expecting much stronger sales in March as this is the time when we see new customers in the form of corporates, government, companies' B2B businesses," adds Pareek optimistically.
Watch video for entire interview.
Maruti Suzuki stock price
On March 25, 2014, at 11:14 hrs Maruti Suzuki India was quoting at Rs 1890.95, up Rs 5.35, or 0.28 percent. The 52-week high of the share was Rs 1902.75 and the 52-week low was Rs 1217.00.
The company's trailing 12-month (TTM) EPS was at Rs 106.68 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.73. The latest book value of the company is Rs 615.03 per share. At current value, the price-to-book value of the company is 3.07.
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