Automakers are turning to rural India to revive sales amid a protracted slowdown in the market. With vehicle sales crashing at the sharpest rate in nearly two decades, Maruti SuzukiNSE 0.47 %, Hyundai Motor India, MahindraNSE 1.89 % & Mahindra, Toyota Kirloskar and others are working aggressively on expanding rural sales and service outlets.
They are also organising special events like ‘gramin mahotsavs’ (village festivals), offering attractive financing schemes and exchange deals to draw in consumers in rural areas, where good rains since July have raised hopes of a bumper harvest and faster recovery in the economy.
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A good kharif crop and budget push towards investments in rural areas should help boost the economy and demand for automobiles, said Shashank Srivastava, Maruti Suzuki’s executive director for marketing and sales. “We have seen an uptick in enquiries, especially for petrol vehicles, which is the first sign of some revival in these markets.”
Source: Economic Times
