New Delhi, February 27 Maruti Suzuki India, the market leader in the car industry, plans to have up to 700 outlets of its small-format premium retail chain, NEXA Studio, by 2030-31. This is part of the company's strategy to tap into the opportunities in non-urban areas of India, a senior company official said on Friday.
The company, which opened the 200th NEXA Studio outlet in Kharkhoda, Haryana, expects that 25-30 per cent of its total sales will come from these small-format premium retail outlets, Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India, told reporters.
"In the last 18 months, we have opened one NEXA Studio outlet almost every third day across the country," he said.
Banerjee explained that the idea behind opening NEXA Studio outlets was to bring the premium experience of the NEXA channel to smaller towns, which have significant potential.
"By 2030-31, we aim to have between 600 and 700 NEXA Studio outlets across the country," Banerjee said when asked about the expansion plans for these small-format premium outlets.
In terms of sales contribution, he said that currently, NEXA Studio accounts for around 8-10 per cent of sales from the overall NEXA channel. "We expect this to increase to at least 25 to 30 per cent by 2030-31," he added.
Maruti Suzuki India's NEXA channel accounts for 40 per cent of its overall sales, with the rest coming from its mass-market chain, ARENA.
Banerjee said that despite being small in size, the NEXA Studio outlets offer the same premium experience as a full-format NEXA outlet in big cities and metros, including EV charging facilities. This is part of the company's strategy to bring electrification to smaller cities and towns.
The company recently launched its first electric vehicle, the e-VITARA SUV, in the domestic market.
"After the launch of the product, we are receiving close to 2,000 to 2,500 inquiries per day," Banerjee said.
The company expects to produce around 2,000 units per month until July, as it recalibrates production numbers for different models every month "to keep the waiting period for all models at the same level".
In total, Maruti Suzuki India's NEXA sales network currently has over 740 outlets in more than 530 cities.
In a statement, Maruti Suzuki India Managing Director & CEO Hisashi Takeuchi said that NEXA stands for innovation, design, and a premium ownership experience. "The rapid expansion of NEXA Studios demonstrates our commitment to making this experience accessible to our aspirational customers in semi-urban areas," he added.
"There is a growing segment of customers in these areas who are looking for a premium car buying experience. To cater to their needs, we are happy to expand our NEXA footprint to such locations," Takeuchi said.
