The company has plans to launch close to half a dozen utility vehicles in the next two to three years.
16 Jan 2025 | 7161 Views | By Ketan Thakkar and Darshan Nakhwa
Maruti Suzuki India aims to regain 50% market share in the passenger vehicle segment in India, and become the top sport utility vehicle maker in the country, said Toshihiro Suzuki, President, Suzuki Motor – the parent of the Indian carmaker. However, Suzuki did not share the timeline for achieving these ...
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Maruti Suzuki India aims to regain 50% market share in the passenger vehicle segment in India, and become the top sport utility vehicle maker in the country, said Toshihiro Suzuki, President, Suzuki Motor – the parent of the Indian carmaker. However, Suzuki did not share the timeline for achieving these goals.
“We are making efforts, with the aim of reviving our market (share)... We would like to acquire top market share in the SUV segment and we would like to revive our market share to 50%,” Suzuki said, addressing the media ahead of Bharat Mobility Show 2025.
At the end of 2024, Maruti Suzuki had a market share of 40-41% in the passenger vehicle segment. This is the lowest market share recorded by the company in almost a decade. Sales of small cars–which account for the majority of Maruti Suzuki’s volumes–have declined over the last few years on account of rising input costs, a change in customer preference, and higher regulatory costs.
In the car segment—i.e., hatchbacks and sedans—Maruti Suzuki has a share of over 67%, and in the van segment, the company has over 90%. However, at the end of 2024, the above segments accounted for less than 30% of the Indian passenger vehicle market. In the remaining sales, comprising SUVs, Maruti Suzuki had a share of only 27%.
This week, Autocar Professional exclusively reported that India’s largest passenger vehicle manufacturer, plans to launch close to half a dozen utility vehicles in the next two to three years. The company’s portfolio may see 10 new models including upgrades to existing models. The launch pipeline includes models ranging from Rs 5 lakh to Rs 30 lakh, and these utility vehicles will have various powertrains, including petrol, CNG, hybrid, and EV.
Maruti Suzuki aims to flood the market with a new range of SUVs and multi-purpose vehicles to expand the choices for prospective buyers moving to competitive models, and to regain lost share due to moderation in affordable car sales. The automaker is scheduled to launch its first electric passenger vehicle ‘e Vitara’ tomorrow, on the first day of the Bharat Mobility Global Expo 2025. The e Vitara will take on the Tata Curvv, Mahindra BE 6, and the yet-to-be-launched Hyundai Creta EV.
Maruti Suzuki is scheduled to launch its first electric passenger vehicle ‘e Vitara’ on the first day of the Bharat Mobility Global Expo 2025 tomorrow. The e Vitara will take on the Tata Curvv, Mahindra BE 6, and the yet-to-be-launched Hyundai Creta EV.
“In the case of SUV [market]…Maruti Suzuki got a little delayed...So therefore it is imperative for us to introduce new models in this segment, but it doesn't mean that we are going to have less emphasis on sedans and hatchback…we would like to ensure that the sedans and hatchbacks of Maruti Suzuki…go further,” said Suzuki.
According to Suzuki, India’s largest automaker remains focused on capturing the two-wheeler customers who are looking to upgrade to a four-wheeler.
“Capturing customers who are upgrading from a two-wheeler is very important for us. These kinds of customers in India are more than 1 billion, so we would like to focus first on this category,” Suzuki said.
On the small car segment, Suzuki expects growth to return, banking on two-wheeler owners upgrading to a four-wheeler.
“I don't think the small car would cease to exist. People are likely to shift from a two-wheeler to a new car, and they would need a good car in the small car segment,” he said.