Maruti to enter the mid-SUV class, aims for a market share of 50%

8 Sep 2022 , 08:19 AM

According to a senior corporate official, who talked to ET, Maruti Suzuki is prepared to prioritize the SUV sector as a means of increasing its overall market share in India. The objective is to increase the company’s market share to 50% from its existing level of under 45%.

According to news reports, the company has a market share of more than 65% in the non-SUV segment but a smaller one in the SUV segment. The business’s overarching goal is to increase its market share to 50%.

He added that the SUV market has been the largest and fastest-growing segment, with Maruti having a significant market share. Maruti sells 6.6 lakh automobiles annually, accounting for 20% of the market for entry-level vehicles. However, Maruti does not provide a vehicle in the 5.5 lakh price range in the mid-SUV segment.

Although Maruti is a market leader in the entry-SUV segment, the official claimed that it is absent from the mid-SUV segment. “There is a need to join the mid-SUV class for which it will debut a model in the final week of September this year,” he added, in his talk with ET.

Additionally, he claimed that due to the superior fuel efficiency of petrol engines, the number of diesel SUV sales in the mid-SUV sector is declining. The person added that Maruti has a good market share in the van space and that the company was also looking at the sub-four meter SUV area.

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