Maruti Suzuki to bolster presence in SUV segment to get back to 50% market share

Maruti Suzuki India looks to bolster its presence in the fast growing SUV segment alongside consolidating its existing product line-up including hatchbacks, so as to power its way back to 50 per cent market share in the domestic passenger vehicle market, a company official told PTI. The carmaker has seen its market share drop to 43.38 per cent in FY22 from 47.7 per cent in FY21.

File photo of Maruti Suzuki Brezza
File photo of Maruti Suzuki Brezza

The country's largest carmaker now aims to bring in multiple SUV products with focus on new technologies like hybrid powertrains in order to enhance fuel efficiency. It aims to make these vehicles comparable or better than diesel-powered models that are currently being sold in the market. Further, the company is looking to enhance its presence in the CNG segment to add additional volumes. There are no plans to make a comeback in the diesel segment.

Also Read : Maruti Suzuki plans multiple EV models, aims for top position in Indian market

Maruti Suzuki had a market share of 51.22 per cent in 2018-19 and 51.03 per cent in 2019-20. The company now plans to put all the efforts to gain back the lost market share, the company's Senior Executive Director - Marketing and Sales, Shashank Srivastava, told PTI. “It's a war cry..it is there in our organisation..it is like constructive paranoia...which means you cannot rest easy.. it doesn't take much time for the market dynamics to change," he said.

Also check these Cars

Find more Cars
Aston Martin Vantage (HT Auto photo)
₹ 2.95 Cr* *Ex-showroom price
Add to compare
Check latest offers
Maruti Suzuki Swift (HT Auto photo)
₹ 5.99 - 9.03 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Ferrari Portofino (HT Auto photo)
₹ 3.50 Cr* *Ex-showroom price
Add to compare
Check latest offers
Mclaren Gt (HT Auto photo)
₹ 3.72 Cr* *Ex-showroom price
Add to compare
Check latest offers
Porsche 911 Gt3 (HT Auto photo)
₹ 2.50 Cr* *Ex-showroom price
Add to compare
Check latest offers
Maserati Mc20 (HT Auto photo)
₹ 3.69 Cr* *Ex-showroom price
Add to compare
Check latest offers

In the non-SUV segment, the company's market share was at 67 per cent level, with leadership positions in both hatchback and MPV segments. However, the lack of products in the SUV segment had impacted its overall market share. Srivastava noted that while the company led the entry-level SUV segment with Brezza, it was in the mid-SUV segment where it lagged behind the competition. "So, overall our market share in the SUV vertical is just 12 per cent. This is where we are now making efforts to bolster our presence," he said.

First Published Date: 24 Apr 2022, 14:16 PM IST
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
5% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Cool Aqua (7.5g)
Rs. 94 Rs. 99
70% OFF
VENO Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable (2 in 1 Vacuum Cleaner)
Rs. 899 Rs. 2,999
4% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Musk After Smoke (7.5g)
Rs. 95 Rs. 99
SHAYONAM Dent Removal Kit - Powerful Car Dent Repair Kit - Suction Cup Dent Puller Handle Lifter and Dent Repair Puller for Car Body Dent, Glass, Tiles and Mirror (Plastic)
Rs. 349

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.