Maruti Suzuki has reportedly appointed two joint managing directors from Suzuki Motor Company to assist the present managing director Kenichi Ayukawa.
Maruti Suzuki has lost market share from 51 percent to 47 percent in the current quarter. (Representative image)
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India’s largest carmaker Maruti Suzuki has introduced major organisational changes in its top cadre amid concerns regarding the growing competition in the SUV space and the passenger vehicle segment.
The company has lost market share from 51 percent to 47 percent in the current quarter, while the market share of KIA and Hyundai increased and stood at about 23 percent in FY21, reported CNBC-TV18.
According to the report citing sources, two joint managing directors have been appointed from the subsidiary of Maruti — Suzuki Motor Company — to assist the present managing director Kenichi Ayukawa.
The two joint managing directors are: H Takeuchi for commercial and S Tori for production and supply chain, said the report.
Meanwhile, Shashank Srivastava and Partho Banerjee have been elevated to the position of senior executive directors and Ram Suresh Akela, who was the national head of, sales has been elevated to the post of executive director — marketing, it said.
The new leadership changes are effective from the first quarter of 2021-22.
The company is moving more aggressively towards cost-cutting measures during the COVID-19 pandemic period and is focused on regaining market share, added the report.
On July 9, the company announced the nationwide roll-out of its digital platform that provides customers end-to-end online car financing solutions. The company, which had launched Maruti Suzuki Smart Finance in limited cities in December 2020, said it is now available across India for customers of both ARENA (mass-market car retail chain) and NEXA (premium cars outlet).
It has on-boarded 14 financiers, including HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, State Bank of India, IndusInd Bank, Bank of Baroda, Mahindra Finance, and Sundaram Finance.
MSI Senior Executive Director (Marketing & Sales) Shashank Srivastava said even before walking into a car dealership, most potential buyers already start their shopping process online — browsing cars and finance options.
Keeping in view the changing customer behaviour, the company had launched Maruti Suzuki Smart Finance, a digital platform that enables customers with an end-to-end online car financing solution, he added.
(With inputs from PTI)