In a remarkable feat, India’s largest carmaker with nearly 42 percent market share—Maruti Suzuki—surpassed annual total sales of 20 lakh vehicles in FY24, with the highest-ever domestic sales as well as exports. The company has swiftly ascended to become India’s top SUV manufacturer. 

A large part of the company’s success comes from its aggressive marketing strategy. With nearly Rs 1,400 crore annual marketing and advertising budget, Maruti ranks among India’s top advertisers. 

In his first-ever media interview after assuming the role on April 1, Partho Banerjee, Senior Executive Officer, Sales and Marketing, Maruti Suzuki India, spoke to e4m exclusively to share his vision and plans to take the company ahead. 

An IIT Kanpur alumnus, Banerjee fueled Maruti Suzuki's growth for over 30 years, driving innovation and strategy. He pioneered the NEXA sales and service channel, revamped dealer development, and led digital transformations, enhancing service experiences. He had also been part of the sales team in the past. 

Edited excerpts: 

You have taken over this role at a time when the auto industry has witnessed muted growth. As per the FADA's latest report, PV sales fell 6% year-on-year in March. How has Maruti fared in this month and what are your projections for the new fiscal year?

In March, we did better than the competitors. We have had a growth of 15% year on year, whereas the competitors grew by 6.8%. But there is one caveat; the growth that you have seen in March is not the right reflection for the next financial year. 

There are reasons for this. First of all, last year, the base was less. Its impact will be seen this year. Second, there was a shortage of components like semiconductors due to which there was a pent-up demand in the market. So, I don't see any reason why there should be a very high growth in 2024-25. So, the forecast is for a single-digit growth for this financial year. It will be a muted growth this financial year.

You mentioned the semiconductor shortage. How are you going to address it?

That crisis is over now. We have overcome that. So supply will not be a constraint this year, actually. 

Tata Motors has just ended Maruti's seven-year run as India's most valuable auto firm. What are your top priorities and challenges at this point? 

See, first of all, we respect our competitors. I have a huge respect for Tata Motors and I think they are doing a good job; however, I firmly believe India is a large market and there is space for all players to operate. And we have been the market leader for the last four decades. 

The crucial thing is to focus on the customer experience. Be relevant to the customers in terms of products and services, and understand their needs. 

So, my priority is to work on the customer experience part or CX. If you're able to connect with the customer, you can retain them in your fold. The rest will follow. And by the way, the automobile business is a long-term business. We should not see it from a short-term perspective. We have a good connection with our customers and I feel we need to further strengthen it.

The new fiscal year has just begun and we are curious to understand your marketing plans and budget for this year.

It's too early for me; I'm just going through it. But yes, we will be relevant to the brand based on the brand philosophy and the target customer. The relevant media drivers will be used to reach the customer.

But broadly, can you share if you have any plans to increase digital media advertising which has been driving Maruti's growth over the past two years?

Today, digital is not something separate as a part of the media plan, but very much a part of the overall media plan. Last year, we almost spent close to 35 to 37% of our total marketing budget on digital advertising. So it plays a crucial role. And I think it's more of an efficiency part of it by which we can reach the right customer and convey the appropriate message. So digital will play a major role even in this financial year. 

How are you leveraging big media properties like the ongoing Indian Premier League and General Elections? Five states are also undergoing elections. 

Election plays a very good role in terms of reaching the rural markets. Almost 43% of our sales come from there. So, the elections will be a great conduit for us to reach these customers. We are already present in the IPL, and we use this big property to reach the customer, depending on the type of campaigns we will do.

How much funds will you allocate for campaigns during the elections? What are your sales projections for the poll period?

Our media planning team is working on it. We are surely going to leverage that appropriately. Today, I won't be able to give you any numbers and let me be very honest with you.

As per recent reports, OTT players and even short video apps are losing users in India. Do these reports impact your advertising plans on these platforms?

I think it doesn't impact Maruti much. Nevertheless, we are keeping a close watch and will be taking a call if something goes wrong.

What are your expansion plans and when do you plan to launch EV cars?

First of all, we are not supposed to share any forecasts and other things being a listed company. But yes, long term I can surely share. The auto industry is supposed to reach a volume of 6 million cars. And we, being the market leader, are aiming for 50% market share. So we will have a pie of 3 million, but another 3 million will be there for all other of our players as well. 

Within this 3 million, our take is that there will be not only EVs but also other powertrains, such as hybrids at 25% playing a major role. By 2030, about 15-17% of the contribution will come from EVs. We will be launching six models by 2030.