Maruti Suzuki to focus on quality and electrification to defend 50% market share
Maruti Suzuki holds more than 50% market share in the Indian passenger vehicle market and the country is the largest market by sales volume and value to the Suzuki Motor Corporation (SMC), the parent firm of Maruti Suzuki. In a bid to retain its market share in the future, Maruti Suzuki aims is planning to focus on quality, electrification, and software development. Also, the automaker will stick to its core strength, the small cars.
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Lately, Maruti Suzuki is losing its upper hand in the Indian PV market when it comes to providing new technology-enabled products to consumers. The new generation of consumers is seeking technology-enabled cars that are loaded with connected and new features, as the country is witnessing a massive transformation in customer preferences.
While the rivals including Hyundai, Kia, MG Motor, and even Tata Motors too have adopted the electric and connected technologies for their respective models, Maruti Suzuki is lacking behind. For instance, Hyundai has sold more than one lakh connected cars in India. Hence, Maruti Suzuki is revising its product strategy to retain its overwhelming market leadership.
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The automaker has identified three priority areas to focus on in the coming days – CO2 emissions in use, CO2 emissions from production, and quality assurance. In its mid-term review, Suzuki Motor Corp has said that during the previous mid-term management plan period, there were cases of loss of customer trust, including quality problems, frequent recalls, and fraud in fuel efficiency tests and final inspection. It also said there have been delays in responding to issues like Connected, Autonomous, Shared, and Electric (CASE) cars.
In India, Suzuki will take the initiative in promoting electrification society in response to environmental issues in India, and maintain a market share of more than 50% in the passenger car segment, claimed the automaker. It also said that this target can be achieved by deepening its alliance with Toyota and by cooperating in electrified vehicles, the African market, and supplementing products and components.
Suzuki Motor Corp is also planning to introduce electric cars in India soon and promote penetrations of hybrids. Besides that, the carmaker is also planning to increase retail outlets in rural areas to increase demand, allocate circuit service cars, and to increase sales efficiency through digitisation. Apart from that, new SUV launches and promotion of CNG cars are also on the card. Maruti Suzuki is currently working on a mid-size SUV codenamed YFG, which is based on the Grand Vitara. The carmaker is also planning to bring Jimny and Grand Vitara in the country market.