 "Maruti Suzuki to shift focus on exports to Africa this fiscal")
Auto major Maruti Suzuki plans to focus on non-European markets for exports in this fiscal and specifically targets Africa, reports CNBC TV18’s Ronojoy Banerjee.
[caption id=“attachment_674558” align=“alignleft” width=“380”] The company spokesperson said that Africa accounts for over 30 percent of Maruti’s exports currently. Reuters[/caption]
The company spokesperson said that Africa accounts for over 30 percent of Maruti’s exports currently, with exports of over 30,000 units in FY12 mainly to Angola, Egypt and Algeria.
While Europe constituted 75 percent of Maruti’s exports in 2009-2010, currently it amounts to 25 percent.
The decline in European exports by 33 percent is supplemented by a 10 percent rise in exports to the non-European markets. Exports to African specifically increased by 50 percent last year. “African Exports Have Helped Cushion Impact Of Sales Decline In Europe,” said a company spokesperson to CNBC TV18.
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