Maruti Suzuki is planning to launch 2 new brands in the country to achieve the goal of selling 4-5 million vehicles by 2030.
A new media report claims that Maruti Suzuki is planning to launch 2 new brands. The new brands will be introduced to achieve the goal of selling 4-5 million vehicles by 2030. The report further claims that the Nexa brand could be transformed from premium sales channel to a premium brand.
The NEXA sales channel was introduced in 2015 along with the launch of the S-Cross crossover. This network has help the Indo-Japanese automaker to enter into the premium car segments. In the future, the Nexa could become an all-new vehicle brand like Maruti Suzuki. The Indo-Japanese automaker is also considering introducing an all-new brand in the market to target buyers coming in the age group of 25 to 30 years.
A source close to the development said, “This strategy will be useful for Maruti Suzuki since they need to evolve as a company to sell 4-5 million vehicles by 2030 and such a step is needed to stay ahead of the competition, Suzuki may also get some of Toyota’s vehicles in the NEXA brand as part of the collaboration,” said an undisclosed source aware of the development. Also See – Maruti Ertiga 6-seater Sport model in the works
However, Maruti Suzuki’s official spokesperson has denied these speculations. The report claims that the new NEXA brand will be introduced by 2022-23 as the current NEXA’s range will be nearing their life-cycle end.
Suzuki has also joined hands with Toyota to share vehicles and vehicle technologies. The first product from the alliance will be the Toyota Glanza, which is basically a re-badged Baleno. It is expected that Maruti Suzuki could sell the re-badged Toyota products through the new NEXA brand.