Mumbai: As competition from foreign players keeps on increasing, country's largest carmaker Matuti Suzuki plans to increase its marketing budget by 5-10 percent this fiscal.
"We do expect a 5-10 percent increase in marketing and advertising spends this fiscal," a company executive said.
The New Delhi-based car major spent around Rs 357 crore on brand promotion activities last fiscal, when it had its worst year with plunging sales due to a variety of reasons including prolonged labour unrest and high interest rates.

From near 50 percent market share in the recent past, the company's fortunes crashed to 38 percent share last fiscal. Falling sales were also attributed to the absence of a good
portfolio of diesel models.
"The higher provisioning would come on the back of some new launches," the executive said, without revealing the number of new products that would roll out.
"A good amount of this allocation will be apportioned to digital publicity as this will be one key focus area," the official said, adding that as much as 5-7 percent of the total spends will go into digital advertising this year.
The company made foray in the growing multipurpose vehicle segment with the launch of 7-seater compact Ertiga last week.