Maruti Suzuki India is targeting markets like UAE, Saudi Arabia, Chile, Mexico and other Latin American countries with its upcoming new version of the compact sedan Dzire to accelerate exports as it is eyeing over 3 lakh units for overseas shipments this fiscal, a senior company official said. Wednesday. In the domestic market, the company hopes to increase its share in the sedan market amid a shift in the passenger vehicle market towards SUVs (sports utility vehicles), with the new Dzire expected to be launched next week . “We have been growing (in exports) at a rate of around 11.9 per cent in the first seven months of the financial year and we hope to continue this momentum. So we are hoping to make more than around Rs 3 lakh “car exports this financial year,” Rahul Bharti, executive director, corporate affairs, Maruti Suzuki India, told PTI here.

In contrast, just four years ago, the company’s exports were less than one lakh per annum, he added.

“So, now we are going to do about three times more, and by the end of the decade, we hope to multiply it another three times to reach something like 8 lakh units per year,” Bharti added. Elaborating on the export strategy, Bharti said, “One of the key factors to increase exports is increasing the number of models in more geographies. So we add the number of models, and we also add the markets.

Currently, he said, the company exports to Latin America, the Middle East and Southeast Asia.

Furthermore, he said: “At some point we will also return to Europe and Japan (with the upcoming eVitara electric SUV). » With the upcoming new version of the Dzire compact sedan, Bharti said, “We also hope to increase our exports because with the new stylish design, technologies and six airbags as standard, it is widely accepted in the market. » He added: “We need to increase density in these (existing) markets. We will be targeting markets like UAE, Saudi Arabia, Chile, Mexico, other Latin American countries and perhaps some Southeast Asian markets as well. The existing Dzire model was among the top three export models in October, he added. On the domestic front, Maruti Suzuki India general manager marketing and sales Partho Banerjee said the company hopes to increase its share in the sedan market with the new offering.

Last year, the outgoing version of Dzire recorded over 1.6 lakh units, he said, adding that with the new offering coming, the company expects further growth. “Every second car sold in the sedan segment (in the domestic market) comes from Maruti…We are actually increasing our market share in the sedan segment,” he said. Banerjee acknowledged that with the faster growth of SUVs, the sedan segment is shrinking, but sedans will continue to have their market as the demand for SUVs stabilizes at some point. “As a market leader, we must be present in all segments. “Our view is this: in every segment we must be present and offer products to consumers. Let the consumer decide which form factor they want to use,” Banerjee said.