Maruti Suzuki: Maruti Suzuki will present a new SUV car. (signal picture)
The share of Maruti Suzuki in the car market is decreasing. Changing its strategy, the company will introduce new models of SUVs instead of small cars. Through this, the company will try to maintain at least 50 percent stake in each segment of the car.
Maruti Suzuki is the largest car manufacturer in the country. In most segments of the Indian car market Maruti Suzuki The secret remains. However, the company’s sales have been declining for a few years now. The trend of Indian users has shifted from small or hatchback car to SUV car. But Maruti Suzuki has failed to offer a good SUV according to the demand of the users. This is the reason that the market share of the company is continuously decreasing. Users are now looking for a good lifestyle and great features. Therefore, sensing the choice of the users, the company has made preparations to launch the new SUV in the market.
Maruti’s market share fell
The market share of Maruti Suzuki in the PV segment was 21.22 percent in the financial year 2020, which has come down to just 43.65 percent by 2022. Last year, the company’s market share in the non-SUV segment was 66.5 percent. At the same time, 61 percent market share has been captured in the MPV segment. However, Maruti Suzuki’s market share in the SUV segment of India was only 12 percent.
Hyundai and Tata ahead in SUV
The biggest reason why Maruti has lost market share in the last few years is that it failed to launch enough SUVs to meet the market demand. Hyundai and Tata Motors dominate the SUV segment of the country as compared to Maruti Suzuki. In 2022, Hyundai has sold 2.5 lakh SUVs, Tata Motors 2.05 lakh and Maruti only 1.34 lakh SUVs.
50% stake preparation
Maruti Suzuki intends to achieve at least 50 percent market share in each segment. At the same time, the company has started working rapidly on the new SUV lineup to meet the demand of the users. In the coming time, Maruti’s SUVs will be seen competing against Hyundai, Tata, Mahindra etc.’s Creta, Nexon, XUV300 etc.
New SUVs to rock
Maruti Brezza is a successful SUV of the company. That’s why the company is preparing to introduce a new model of Brezza. Maruti has designed an SUV with the codename YGF to compete with the Creta. At the same time, a new model of Baleno Cross is being prepared in the name of YTB. Apart from this, Maruti will offer 5-door Jimny to compete with Mahindra Thar and Force Gurkha.
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