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The veteran also acknowledged that high tax rates on cars in India can only be reduced when the government is able to find alternative sources of revenue to make up for the potential reduction in revenue from the auto industry.
He welcomed the entry of foreign carmakers into India with the help of free trade agreements, as it will increase much-needed competition in the domestic market and enhance India’s access to big markets abroad.
“It is time that we prioritise increasing our exports instead of being protective of the domestic market,” he said.
Maruti Suzuki also plans to showcase two new SUVs at the Auto Expo 2023 next month. The company’s limited presence in the SUV segment was one of the key reasons for the loss in market share.
Maruti Suzuki said in a statement that it will display an array of 16 vehicles at the Expo, including an Electric Concept SUV, two all-new SUVs, a WagonR Flex Fuel prototype. It will also showcase its customised range of existing products like the Grand Vitara, the XL6, the Ciaz, the Ertiga, the Brezza, the Baleno, and the Swift, among others.
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