Nexa automotive retail growth 2023-24 – Nexa’s 300-City Reach, More Than Just Numbers
Nexa is experiencing rapid growth in the automotive retail sector. In FY23-24, Nexa recorded 54 percent growth, reflecting its strong market outreach. The brand has expanded its customer base to 2.7 million, a testament to its broad appeal and customer satisfaction.
Nexa boasts 498 showrooms across over 300 cities, indicating a widespread retail network. This extensive presence enhances accessibility for customers in both urban and non-urban areas. Nexa’s strategy includes significant contributions to Maruti Suzuki’s overall passenger vehicle (PV) sales, with Nexa products accounting for 31.88 percent.
Create. Inspire: Nexa’s Winning Formula
The ‘Create. Inspire’ philosophy drives Nexa’s operations, emphasising innovation and customer-centric approaches. This philosophy resonates well with its growing customer base. The brand’s growth across regions highlights its ability to cater to diverse market needs.
Nexa’s offerings go beyond traditional automotive retail. Initiatives like NEXA Music, Lifestyle, and Journeys provide enriched customer experiences, fostering brand loyalty and engagement. These initiatives differentiate Nexa, creating a unique identity within Maruti, and the automotive industry.
Nexa’s Strategic Timeline: From S-Cross to Jimny
The timeline of product launches illustrates Nexa’s strategic evolution. Starting with the S-Cross and Baleno in 2015, Nexa expanded its portfolio with models like the Ignis and Ciaz in 2017. The introduction of the XL6 in 2019 and the Grand Vitara in 2022 further diversified its lineup. Recent additions like the UndefeatedFronx, and Jimny in 2023 showcase Nexa’s commitment to selling cars in competitive segments, and market relevance.
By addressing the specific needs of a wide potential customer base, Nexa has tapped into a significant market segment. Customer satisfaction in the automotive sector is crucial, and Nexa excels in this aspect. The brand’s growth reflects its ability to meet customer expectations through quality products and its widely trusted service. Nexa’s comprehensive growth approach ensures a positive customer experience, contributing to its strong market position. The brand’s efforts in various segments, coupled with its diverse product offerings, highlight a well-rounded approach to automotive retail. Nexa’s growth trajectory suggests continued success and market influence.
Comprehensive Growth Approach – Nexa cars
Nexa’s brand evolution is marked by strategic decisions and consistent growth. The brand’s ability to read market demand and customer preferences is evident in its expanding product range and customer base. Nexa’s success is a result of its innovative philosophy and strategic execution coupled with price competitiveness.
Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, noted, “With 498 retail channels across the country, NEXA has been successful in appealing to customers even in non-urban centres, where we are witnessing a growing demand for premium products. Each model in the NEXA portfolio is meticulously designed to resonate with the dynamic lifestyles and preferences of today’s discerning consumers who seek vehicles that blend advanced features and technology with reliability. The addition of models such as the Grand Vitara, Fronx, Jimny, and Invicto has further enriched our lineup, providing customers with more choices that offer incredible value for money.”
