From a 5% share of Maruti Suzuki’s passenger vehicle sales in FY2015 to 32% in FY2024, the Nexa premium channel is playing a key role in the company’s growth. While the Baleno continues to be the No. 1 Nexa model, the Fronx and Grand Vitara are currently in second and third position.
24 Jul 2024 | 8409 Views | By Ajit Dalvi
Nexa, Maruti Suzuki India’s premium sales channel, has turned nine. Launched on July 23, 2015, Nexa has gone on to sell 27,11,895 passenger vehicles till end-June 2024 (see data table below), and accounted for 31.87% of Maruti Suzuki’s best-ever fiscal year sales of 1.75 million units in FY2024. Nexa sales ...
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Nexa, Maruti Suzuki India’s premium sales channel, has turned nine. Launched on July 23, 2015, Nexa has gone on to sell 27,11,895 passenger vehicles till end-June 2024 (see data table below), and accounted for 31.87% of Maruti Suzuki’s best-ever fiscal year sales of 1.75 million units in FY2024. Nexa sales crossed the 2.5 million milestone in March 2024, news of which was broken by Autocar Professional.
According to Maruti Suzuki, the Nexa premium retail channel was conceptualised “to offer customers a global automotive retail experience, characterised by innovative technology, unmatched hospitality, and relentless customer-centricity.”
Nexa’s first model was the now-discontinued S-Cross, launched on August 5, 2015. The current Nexa model line-up comprises eight passenger vehicles – two hatchbacks (Ignis, Baleno), one sedan (Ciaz), three SUVs (Jimny, XL6, Grand Vitara) and one MPV (Invicto).
BALENO IS NEXA NO. 1, GRAND VITARA AND FRONX NEW GROWTH DRIVERS
Nexa’s growth over the past nine fiscal years is mirrored by the number of models Maruti Suzuki has introduced. From just two models (S-Cross and Baleno) in FY2016, the Nexa model range has expanded to eight in FY2024 (Baleno, Ignis, Ciaz, XL6, Grand Vitara, Fronx, Jimny and Invicto), with one model (S-Cross) being discontinued in August 2022.
The snazzy Baleno hatchback is Nexa's best-seller by a huge margin over other models. Introduced in October 2015, the Baleno has sold 1.5 million units and accounts for 55% of all Nexa sales till end-FY2024. Its highest fiscal year sales were in FY2019 (212,330 units). FY2023 sales (202,901 units) came close to that albeit FY2024 sales were down 3.59% on FY2023 at 195,607 units. In Q1 FY2025 (April-June 2024), the Baleno has sold 41,786 units, maintaining its status as Nexa’s best-selling model.
The Ignis, launched in January 2017, with cumulative sales of 283,317 units, has a 10% share of Nexa sales till date. Its best year was FY2023 (59,852 units).
Taking third rank on the Nexa ladder-board is the Grand Vitara midsize SUV. Launched in September 2022, the Grand Vitara has been one of Maruti Suzuki’s recent successes – the 199,550 units (till end-June 2024) give it a 7.35% share of Nexa sales. In early July, the Grand Vitara has crossed the 200,000 sales milestone in just 22 months after launch, news of which Autocar Professional broke on July 15.
The fourth highest contributor to Nexa sales is the Ciaz sedan with 186,177 units and a 7% share albeit sales have fallen sharply over the years. From 58,913 units in FY2018 to 10,337 units in FY2024, it’s been quite a climbdown. The Ciaz has sold 2,169 units in April-June 2024, down 42% YoY (Q1 FY2023: 3,753 units).
The XL6, which is in its fifth year, is the fifth highest Nexa sales model with 178,666 units and a 6.58% share. The XL6 posted its best-ever annual sales in FY2024: 45,131 units, up 24% YoY (FY2023: 36,423 units). In Q1 FY2025, it has sold 10,073 units, up 11% (Q1 FY2023: 9,090 units).
At present, the Baleno, Grand Vitara and the XL6 are the top three highest-selling Nexa models. What has helped accelerate their sales is the addition of a CNG variant. In October 2022, Maruti Suzuki, which has the largest portfolio of CNG cars in India, expanded its factory-fitted CNG offerings to Nexa and the Baleno and XL6. In January 2023, the recently launched Grand Vitara also got the CNG treatment.
Just 7,276 units behind the XL6 is the Fronx with 171,390 units. FY2024 saw Maruti Suzuki launch three all-new Nexa models – Fronx, Jimny and the Invicto. Of these three, the Fronx compact SUV has been the most successful – not only was it the fastest Indian passenger vehicle to hit the 100,000 sales mark in just 10 months, but it also surpassed the 150,000 unit milestone in just 14 months after launch in April 2023.
The Jimny, of which much was expected, however, has been quite a different story. Launched in June 2023, the five-door model clocked sales of 18,021 units till end-June 2024, far less than what Maruti Suzuki had targeted.
The youngest Nexa model is the Invicto MPV, launched in July 2023, at Rs 24.79 lakh, aiming to tap the potential of over Rs-20-lakh vehicle category in India. The Invicto has sold a total of 5,113 units till end-June 2024, comprising 4,599 units in nine months of FY2024 and 514 units in the first three months of FY2025 (April-June 2024).
Commenting on Nexa’s ninth anniversary, Partho Banerjee, senior executive officer, Marketing & Sales, Maruti Suzuki India, said: “Nexa is more than just a retail channel for us. It has excelled in spreading the joy of mobility to more than 2.7 million customers. With 498 retail channels across the country, Nexa has been successful in appealing to customers even in non-urban centres, where we are witnessing a growing demand for premium products. Each model in the Nexa portfolio is meticulously designed to resonate with the dynamic lifestyles and preferences of today's discerning consumers who seek vehicles that blend advanced features and technology with reliability. The addition of models such as the Grand Vitara, Fronx, Jimny, and Invicto has further enriched our lineup, providing customers with more choices that offer incredible value for money.”