Maruti Executive Director Shashank Srivastava trashes Ola, Uber theory

Maruti Executive Director Shashank Srivastava trashes Ola, Uber theory

Ownership pattern in India still has not changed and people purchase cars with an "aspirational aspect", MSI Executive Director (Marketing and Sales) Shashank Srivastava told PTI in an interview.

FPJ BureauUpdated: Thursday, September 12, 2019, 06:14 AM IST
article-image
2019 Maruti Suzuki Alto 800 To Become Safer Soon |

Guwahati: Millennials opting for rides like Ola and Uber may not be overwhelming factor for the current slowdown in auto sales and a detailed study is needed to arrive at any conclusion, according to a top official of Maruti Suzuki India.

Ownership pattern in India still has not changed and people purchase cars with an "aspirational aspect", MSI Executive Director (Marketing and Sales) Shashank Srivastava told PTI in an interview.

He further said, "Ola and Uber came into existence during last 6-7 years. In this period, the auto industry also saw some of its best times. So, what happened only during last few months that the downturn became so severe? I do not think it is only because of Ola and Uber," Srivastava said.

He gave the example of the US market, where Uber is a big player and the car sales in the last few years are robust. "In India, 46 per cent car buyers are first-time users.

It is an aspirational behaviour. People may use public transport like Ola and Uber to go to offices on weekdays but still they buy a vehicle for weekend outings with the family," Srivastava explained.

RECENT STORIES

Gold Likely To Consolidate Next Week As US Data, Fed Meeting Loom: Analysts

Gold Likely To Consolidate Next Week As US Data, Fed Meeting Loom: Analysts

Global cues, FPI inflows and Q2 Earnings To Steer Markets, Muhurat Trading To Mark Samvat 2082

Global cues, FPI inflows and Q2 Earnings To Steer Markets, Muhurat Trading To Mark Samvat 2082

Muhurat Trading 2025: Confusion Over Date Resolved, Special Diwali Trading Session To Be Held In The...

Muhurat Trading 2025: Confusion Over Date Resolved, Special Diwali Trading Session To Be Held In The...

New GST Rules: Government Extends Return Filing Deadline, CBIC Issues Official Notification Giving...

New GST Rules: Government Extends Return Filing Deadline, CBIC Issues Official Notification Giving...

India’s Retail Inflation Set To Ease Further In October Below 0.5%, Supported By Food Price Drop...

India’s Retail Inflation Set To Ease Further In October Below 0.5%, Supported By Food Price Drop...