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The country's largest car maker Maruti Suzuki India aims to more than double its SUV sales this year and take the leadership position in the fast-growing segment with a market share of over 25 per cent, according to a senior company official. The auto major sold 2.02 lakh sports utility vehicles (SUVs) last financial year with a market share of around 13 per cent. In the current fiscal year, the company aims to sell around 5 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 per cent in 2018 to 43 per cent in 2022. In an interaction with PTI, Maruti Suzuki India Senior Executive Officer (Sales & Marketing) Shashank Srivastava said the doubling of the market share in the SUV segment would also help the company in its bid to again surpass the 50 per cent market share mark in the domestic passenger vehicle industry. "This fiscal year we expect
Japanese auto major Suzuki Motor Corporation on Monday said its subsidiary Maruti Suzuki India has crossed 2.5 crore domestic sales milestone earlier this month. Maruti Suzuki India achieved the sales mark on January 9, 2023. Suzuki signed a joint venture agreement with Maruti Udyog, the predecessor of Maruti Suzuki in 1982 and rolled out its first car -- Maruti 800 -- in December 1983. Currently, 17 models are produced and sold in India, and Maruti Suzuki is strengthening its portfolio in the recently growing SUV models while also making efforts in popularising hybrid and CNG models, Suzuki Motor Corporation said in a statement. The cumulative sales of hybrid and CNG models is around 21 lakh units, it added. "Maruti Suzuki will continue to provide products marked with safety, high reliability, and eco-friendliness, and contribute to sustainable development of the automobile industry," the Japanese auto maker noted. Maruti Suzuki India achieved one crore sales mark in February 20
Maruti Suzuki expects substantial increase in its market share in the sports utility vehicle (SUV) segment this fiscal with the new Brezza and Grand Vitara receiving robust response, according to a senior company official. The auto major also plans to introduce more models in the SUV segment in the remaining part of the financial year. "In July we were at 7.1 per cent (market share) in the SUV segment...it increased to 10.8 per cent in August, 13.01 per cent in September and 14.4 per cent in October. So it is showing an increasing trend," Maruti Suzuki India (MSI) Senior Executive Officer Marketing & Sales Shashank Srivastava told PTI in an interaction. He noted that the market share would have increased further if the company had not faced supply issues with Brezza last month. "I would not like to project a going forward figure but can safely say that we are expecting a good increase (in market share) this fiscal as we expect to launch a few more SUVs," Srivastava said. He noted