Maruti Suzuki India, which wrested the No. 1 utility vehicle manufacturer title from M&M in FY2018, has benefited from the strong demand for its premium Nexa SUVs, particularly the Grand Vitara, Fronx and the XL6 which have sold nearly 600,000 units. And the share of Nexa UVs of Maruti Suzuki’s overall UV sales has gone past 45 percent.
25 Sep 2024 | 9933 Views | By Ajit Dalvi
Maruti Suzuki India’s premium Nexa sales channel, which celebrated its ninth anniversary in July 2024and retails both passenger cars and utility vehicles (SUVs and a sole MPV), has registered total wholesales of 2.78 million units till end-August 2024. Of this, utility vehicles (UVs) have contributed 792,590 units, which makes ...
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Maruti Suzuki India’s premium Nexa sales channel, which celebrated its ninth anniversary in July 2024 and retails both passenger cars and utility vehicles (SUVs and a sole MPV), has registered total wholesales of 2.78 million units till end-August 2024. Of this, utility vehicles (UVs) have contributed 792,590 units, which makes for a 28% share while the remaining 19,96,618 units belong to passenger vehicles and a 72% share. The remaining 7,410 units would have been sold in the first few days of September 2024.
Nexa currently has eight models on sale – three passenger vehicles (Baleno and Ignis hatchbacks, Ciaz sedan) and five UVs (XL6, Grand Vitara, Fronx, Jimny SUVs and Invicto MPV). The S-Cross SUV, the first Nexa model launched in FY2016, was discontinued in August 2022.
A close look at Nexa wholesales data over the past eight-and-a-half fiscals shows just how strong the growth has been for the Nexa UV models, and has helped Maruti Suzuki become the UV market leader in FY2018, a title it has held onto for the seven fiscals since then.
In FY2017, Maruti Suzuki was ranked No. 2 on the India UV sales chart with 195,741 units – 26,800 units below UV market leader Mahindra & Mahindra (222,541 units). In FY2018, Maruti Suzuki wrested the title from M&M with UV sales of 253,759 units – 19,844 units more than M&M’s 233,915 units – with the Nexa UV contribution being 30,293 units with only one model (S-Cross).
In FY2019, Maruti Suzuki sold 264,197 UVs – 28,835 units more than M&M – of which the Nexa share was 37,822 units or 14 percent. Nexa UV sales really came into their own in FY2024 when they surpassed six-figure sales for the first time but registered handsome 247% YoY growth to hit a record high of 322,643 units and a 50% share of Maruti Suzuki’s total UV dispatches of 642,296 units.
As the data table above reveals, Maruti Suzuki’s UV sales which were 94,416 units in FY2016 have jumped 580% to 642,296 units in FY2024, with the Nexa contribution increasing year on year. Between FY2016 to FY2019, the share of Nexa (with only one model, the S-Cross) to total Maruti UV sales (which includes the Brezza compact SUV and Ertiga MPV sold from the Maruti Arena channel) hovered between 11 and 14 percent.
Fast forward to FY2024 which had five Nexa models (XL6, Grand Vitara, Fronx, Jimny and Invicto) along with the Brezza and Ertiga on sale. Last fiscal saw Maruti Suzuki scale a new UV sales record of 642,296 units, of which the Nexa share with 322,6434 units was 50 percent.
As the Nexa UV consolidated wholesales data table below reveals, the S-Cross was joined by the XL6 SUV in FY2020, the Grand Vitara SUV in FY2023, and all of three new models – Fronx and Jimny SUVs and the Invicto MPV – in FY2024. The S-Cross SUV, which was discontinued in FY2023, sold a total of 169,011 units and accounts for 21% of total Nexa UV sales of 792,590 units till the end of August 2024.
The five-door Jimny, of which plenty was expected, has not caught the fancy of the SUV buyer in India and has sold only 21,042 units since its launch in June 2023, which makes for monthly average sales of only 1,402 units.
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 5,538 units till end-August 2024, comprising 4,599 units in nine months of FY2024 and 939 units in the first five months of FY2025 (April-August 2024).
XL6, Grand Vitara and Fronx contribute to 75% of Nexa UV sales
The three key growth drivers of the Nexa UV portfolio are the XL6 and Grand Vitara midsize SUVs along with the Fronx compact SUV.
Cumulative sales-wise, these three SUVs together account for 596,599 units or 75% of total Nexa UV sales till end-August 2024. Of this trio, the Maruti Grand Vitara, launched in September 2022, has the highest sales – 217,968 units and accounts for a 27.50% share of Nexa UV sales. In early July 2024, 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.
Next up is the Maruti Fronx compact SUV with 194,702 units and a 24.56% share of Nexa UV sales. Launched in April 2023, the Fronx has turned out to be a major success – not only did it 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. More recently, in mid-September 2024, the Baleno-based Fronx drove past the 200,000 sales milestone, just 17 months after launch and in five fewer months than the Grand Vitara.
The XL6, which is now in its sixth year, has clocked cumulative sales of 184,329 units and a 23.25% share of Nexa UV sales. 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).
Not surprisingly, all three SUVs were among the Top 20 selling utility vehicles in FY2024 with the Fronx at No. 8, Grand Vitara at No. 9 and the XL6 at No. 20. Their strong showing continues in the current fiscal and in the April-August 2024 period, the Fronx is ranked No. 5 (59,967 units) with an upward movement of three positions, the Grand Vitara remains at No. 9 (45,484 units) as does the XL6 at No. 20 (15,736 units). What’s common to this trio of SUVs is that, along with petrol power, they each have a CNG variant.
With seven months left in the current fiscal, Maruti Suzuki remains in pole position to hold onto its No. 1 UV OEM title and has a massive lead of 72,968 units over its nearest rival. And, given the sustained demand for Nexa SUVs, particularly the Grand Vitara and the Fronx, there are unlikely to be any surprises on the UV market leader front.