Increasing sales in the SUV segment is key to growing the company’s share in the local market going forward, Hisashi Takeuchi, Managing Director at the country’s largest carmaker Maruti Suzuki said.
Takeuchi said while Maruti Suzuki has a strong footprint in the small car segment and will continue to bring in full model changes and new vehicles in the category to maintain its leadership, the company is looking at strengthening its presence in the highly competitive SUV space to shore up volumes and market share.
Maruti Suzuki, which had a market share of 39% at the end of the first quarter of this financial year, is targeting reclaiming 50% share in the domestic market by the end of the decade.
“SUVs now account for 55% in car sales in India. While small cars will continue to remain the core of our business, growing footprint in the SUV segment is key to increasing our market share”, Takeuchi said.
Takeuchi explained over the past few years, the company has undertaken a strategic approach to expand its SUV portfolio. “We began by establishing a strong foundation in the entry-SUV segment with models like Brezza and Fronx. These vehicles have helped us to secure a leadership position in the entry-SUV segment. Our SUV contribution to total sales has grown nearly threefold, rising from 8.9% in FY 20-21 to nearly 28% in FY 24-25”, he informed.
He expects the company’s latest model Victoris to further strengthen the its presence in the midsize SUV segment, which is seeing “strong customer interest”. As many as 900,000 units are sold annually in the midsize SUV segment in the country.
The Victoris - deliveries of which will start with the Navratri - will be sold through the Arena network of Maruti Suzuki for a wider reach. Takeuchi declined to specify the quantum of sales the company is targeting but said, “We are looking at big volumes. We are not only going to sell this vehicle in the domestic market, but will also export it to 100 countries globally.”
At present, Maruti Suzuki registers about 28% of its sales from SUVs.
Maruti Suzuki has invested Rs 1,240 crore in developing the model. This vehicle will be the first to be manufactured at its facility in Kharkhoda (Haryana).
Overall, Takeuchi informed the company is looking at introducing more models in the SUV segment going ahead. “We are (also) studying opportunities in the premium SUV space “, he said, adding, “India has the largest youth population in the world, who will drive growth and become our current and future customers. Being a market leader, it is important for us to cater to all set of customers.”
Considering the growing preference for SUVs in India, the company will be introducing two new SUVs in this financial year. “One is, of course the e Vitara, our first Battery Electric Vehicle. And now it is Victoris”, Takeuchi informed.
Takeuchi said while Maruti Suzuki has a strong footprint in the small car segment and will continue to bring in full model changes and new vehicles in the category to maintain its leadership, the company is looking at strengthening its presence in the highly competitive SUV space to shore up volumes and market share.
Maruti Suzuki, which had a market share of 39% at the end of the first quarter of this financial year, is targeting reclaiming 50% share in the domestic market by the end of the decade.
“SUVs now account for 55% in car sales in India. While small cars will continue to remain the core of our business, growing footprint in the SUV segment is key to increasing our market share”, Takeuchi said.
Takeuchi explained over the past few years, the company has undertaken a strategic approach to expand its SUV portfolio. “We began by establishing a strong foundation in the entry-SUV segment with models like Brezza and Fronx. These vehicles have helped us to secure a leadership position in the entry-SUV segment. Our SUV contribution to total sales has grown nearly threefold, rising from 8.9% in FY 20-21 to nearly 28% in FY 24-25”, he informed.
He expects the company’s latest model Victoris to further strengthen the its presence in the midsize SUV segment, which is seeing “strong customer interest”. As many as 900,000 units are sold annually in the midsize SUV segment in the country.
The Victoris - deliveries of which will start with the Navratri - will be sold through the Arena network of Maruti Suzuki for a wider reach. Takeuchi declined to specify the quantum of sales the company is targeting but said, “We are looking at big volumes. We are not only going to sell this vehicle in the domestic market, but will also export it to 100 countries globally.”
At present, Maruti Suzuki registers about 28% of its sales from SUVs.
Maruti Suzuki has invested Rs 1,240 crore in developing the model. This vehicle will be the first to be manufactured at its facility in Kharkhoda (Haryana).
Overall, Takeuchi informed the company is looking at introducing more models in the SUV segment going ahead. “We are (also) studying opportunities in the premium SUV space “, he said, adding, “India has the largest youth population in the world, who will drive growth and become our current and future customers. Being a market leader, it is important for us to cater to all set of customers.”
Considering the growing preference for SUVs in India, the company will be introducing two new SUVs in this financial year. “One is, of course the e Vitara, our first Battery Electric Vehicle. And now it is Victoris”, Takeuchi informed.
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