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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Maruti Suzuki India Ltd    MARUTI   INE585B01010

MARUTI SUZUKI INDIA LTD

(MARUTI)
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Maruti Suzuki India : 1000+ online dealerships help to sell 2 lakh cars; Nearly 21 lakh digital enquiries since April 2019; Robust digital platform offers a convenient customer connect with dealers

11/18/2020 | 11:38am EST

New Delhi : Maruti Suzuki India Limited has established India's largest online sales network that is transforming customer's online retail experience with enhanced convenience at the last mile. The online initiative helps customers get information from their preferred dealers quickly.

Initiated around two years back, the online digital initiative now covers nearly 1000 dealerships across the country. According to a research done by Google over 72% of auto customers search for their dealers online. This simpler and transparent process clearly brings ease of decision making to the customers.

Aligning with customer preferences, Maruti Suzuki pioneered online bookings in 2017. As customer behaviour further shifts online, dealership's websites are witnessing a much larger traffic flow. The positive results of the initiatives are evident as digital enquiries for Maruti Suzuki have seen a 5-fold increase to around 20% of total sales. In the prevailing COVID-19 scenario, the digital enquiry contribution has further increased exceeding 33% during the last 5 months.

Speaking on the Digital initiatives, Mr. Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India Limited said, 'Nearly 95% of new car sales in India are digitally influenced as per the Google Auto Gear Shift India 2020 Report. Customers first research online and then buy at the physical dealerships. While online experience provides the complete spectrum of information to the customers, at the last mile the customers seek assurance of the deal from their trusted dealer advisors. Interestingly, customers who enquire through our digital channel end up purchasing a car within 10 days. This reaffirms that with a robust online to offline platform executed by a digitally enabled salesforce, converting digital enquiries into sales becomes easier. Since, the introduction of this new digital channel in 2018, we have witnessed three times increase in digital enquiries and recorded sales of over 2 lakh units since April 2019. This digital channel has helped to generate over 21 lakh customer enquiries.'

He added, 'We witnessed a two-fold increase in 'Near Me' customer searches for Maruti Suzuki dealers. Our investment to create a hyper-local platform is to help customers discover faster and connect to their nearest dealers. This initiative has seen rapid growth in the recent times. In the last 2 years, we have integrated over 1000 dealerships across 3000 online touchpoints in this digital transformation journey'

Supported by a strong technology backend and a data driven Hyperlocal marketing approach, the new digital sales experience is personalized for one to one communication with millions of Maruti Suzuki customers. The Company has built a state-of-the-art technology platform that helps the OEM and dealer websites drive synergy and strengthen localized messaging. For this, the Company has partnered with leading online platforms like Google and Facebook bringing global digital expertise to dealer teams. Building digital marketing capabilities at the dealer's end, Maruti Suzuki consistently offers training to its dealer partners to upgrade their knowledge of the online platforms. These dedicated digital lead management teams have been trained through regular physical and virtual trainings on the finer nuances of managing the expectations of today's digital savvy customer.

Issued by:

Corporate Communications,

Maruti Suzuki India Limited,

1, Nelson Mandela Road,

Vasant Kunj, New Delhi

Ph: 91-11- 4678 1000

Email: corp.comm@maruti.co.in

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MARUTI SUZUKI INDIA LTD 2.81% 8144.95 Delayed Quote.3.57%
SUZUKI MOTOR CORPORATION 0.08% 5235 End-of-day quote.9.47%
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Financials
Sales 2021 675 B 9 251 M 9 251 M
Net income 2021 45 414 M 623 M 623 M
Net cash 2021 341 B 4 673 M 4 673 M
P/E ratio 2021 53,2x
Yield 2021 0,62%
Capitalization 2 460 B 33 722 M 33 745 M
EV / Sales 2021 3,14x
EV / Sales 2022 2,45x
Nbr of Employees 15 945
Free-Float 43,6%
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Kenichi Ayukawa Chief Executive Officer, Executive Director & MD
Ravindra Chandra Bhargava Non-Executive Chairman
Ajay Seth CFO & Senior Executive Officer-Finance
Rajesh Uppal Senior Executive Officer-Human Resources & IT
Davinder Singh Brar Independent Non-Executive Director
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