Maruti Looks To Double SUV Sales This Fiscal Year, Eyes Leadership Spot With 25% Market Share

Maruti Suzuki Ltd (MSL), the nation’s largest carmaker, targets to greater than double its sports activities utility automobiles (SUVs) gross sales this yr and take the management place within the fast-growing phase with a market share of over 25 per cent, citing a senior firm official, the PTI report. The auto main offered 2.02 lakh sports activities SUVs final monetary yr with a market share of round 13 per cent. Within the present fiscal yr, the corporate goals to promote round 5 lakh models.

In line with the report, the SUV phase is presently the fastest-growing vertical within the home passenger automobile trade. The SUV contribution to the general passenger automobile market has grown from 24 per cent in 2018 to 43 per cent in 2022. MSL competes with Tata Motors, Mahindra & Mahindra, and Hyundai Motor India for the highest slot within the SUV area.

Shashank Srivastava, senior govt officer (gross sales and advertising), Maruti Suzuki India, stated the doubling of the market share within the SUV phase would additionally assist the corporate in its bid to once more surpass the 50 per cent market share mark within the home passenger automobile trade. “This fiscal yr we anticipate our SUV market share to rise to 25 per cent. The SUV market is predicted to be round 19 lakh models this yr,” Srivastava stated.

For the corporate, Brezza is main the entry SUV phase whereas a full influence of Grand Vitara by way of gross sales can be anticipated to come back into play this yr, he famous. Moreover, the addition of two new fashions, Jimny and Fronx, would additionally assist in bringing in further volumes this fiscal, he added.

Srivastava famous that MSI has already obtained near 41,000 bookings for the 2 fashions that are slated to hit the market over the following few months. He famous that the corporate’s SUV market share has been growing over the previous few fiscal. It stood at 10.5 per cent in 2021-22 and elevated to 13 per cent final fiscal, he said.

Srivastava stated the corporate’s market share within the non-SUV phase stood at round 65 per cent however attributable to low penetration within the SUV phase, its total market share has gone beneath the 45 per cent stage. “If we wish to improve it in direction of 50 per cent, we should improve our market share within the SUV area and that is what we are attempting to do,” he added.

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