Maruti Suzuki aims to take leadership position in SUV segment this fiscal
- Maruti Suzuki sold 2.02 lakh sports utility vehicles (SUVs) last financial year.
_1663475192508_1663475222593_1663475222593.jpeg "Maruti Suzuki Grand Vitara is the biggest launch from the company in 2022 and is prepping to dream big in a bigger segment - the mid-size SUV category. The company may have come in late but is coming in hot.")
_1663475192434_1663475239532_1663475239532.jpeg "The Grand Vitara from Maruti Suzuki sports a prominent front grille which is flanked on either side with three-pod LED DRLs and head light units in a square casing.")
_1663475192452_1663475213024_1663475213024.jpeg "The Maruti Suzuki Grand Vitara stands on 17-in alloy wheels in dual-tone hues. The minimalist character line on the side and the large windows lends it a classic appearance.")
_1663475192456_1663475228776_1663475228776.jpeg "The Grand Vitara gets LED tail lights and a light bar across the trunk door.")
_1663475190819_1663475262468_1663475262468.jpeg "Cargo space at the back is decent on the mild-hybrid variants (in pic) but the addition of a big battery in the strong-hybrid models leads to compromised space.")
_1663475192211_1663475269684_1663475269684.jpeg "A look at the all-black interiors with Champagne Gold accents on the strong hybrid model of the Grand Vitara.")
_1663475191942_1663475256730_1663475256730.jpeg "The strong-hybrid model comes with the solitary e-CVT option.")
_1663475644108_1663477396140_1663477396140.jpeg "The strong-hybrid model of the Grand Vitara also gets an all-digital 4.2-inch TFT driver display.")
_1663475388737_1663477381804_1663477381804.jpeg "Head-Up Display or HUD is also reserved for the strong hybrid variants of the Grand Vitara.")
_1663475426775_1663477367113_1663477367113.jpeg "The panoramic sunroof is available on the top variant of the mild-hybrid trim and all variants of the strong-hybrid trim of the Grand Vitara.")
_1663475192390_1663477353266_1663477353266.jpeg "A look at the Black and Bordeaux colour theme inside the manual variant of the Grand Vitara.")
_1663475520891_1663477326886_1663477326886.jpeg "The five-speed manual stick inside the Grand Vitara is the one to choose if one is looking favorably at the Suzuki AllGrip Select which enables the SUV to tackle conditions off the tarmac.")
Maruti Suzuki India aims to take the leadership position in the SUV segment this fiscal with 25% market share by doubling its sales, a senior company official told PTI. The auto major sold 2.02 lakh sports utility vehicles (SUVs) last financial year with a market share of around 13%. In the current fiscal year, the company aims to sell around five lakh units.
The SUV segment is currently the fastest-growing vertical in the domestic passenger vehicle industry. The SUV contribution to the overall passenger vehicle market has grown from 24% in 2018 to 43% in 2022. Doubling of the market share in the SUV segment would help the company in its bid to again surpass the 50 per cent market share mark in the domestic passenger vehicle industry, said Maruti Suzuki India Senior Executive Officer - Sales & Marketing, Shashank Srivastava.
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He added that the SUV market is expected to be around 19 lakh units this year. Brezza is leading the entry SUV segment while the company also expects Grand Vitara sales to expand this year. Besides, the addition of two new SUV models - Jimny and Fronx - will also help the company bring in additional volumes this fiscal.
Srivastava noted that the company has already received close to 41,000 bookings for the two models which are slated to hit the market over the next few months. He also noted that the company's SUV market share has been increasing over the last few fiscals. It stood at 10.5% in 2021-22 and increased to 13% last fiscal.
In the non-SUV segment, the company's market share stood at around 65% but due to low penetration in the SUV segment, its overall market share has gone below the 45% level. "If we want to increase it towards 50%, we will have to increase our market share in the SUV space and this is what we are trying to do," Srivastava added.
