To get back its 50 per cent market share, Maruti Suzuki is aiming to drive in new models that will cater to both urban and smaller cities and rural markets as well.
Maruti Suzuki will not walk away but fight to get back the 50 per cent market share it once had in the Indian passenger vehicle segment, said Maruti Suzuki India chairman RC Bhargava in an interaction with PTI. Currently commemorating 40 years of operations, the automaker has witnessed its market share dropped to 43.38 per cent in FY22 from a peak of 51.21 per cent in FY19. In 2018-19, domestic passenger vehicle sales were at 33,77,436 units, which dropped to 30,69,499 units in 2021-22.
(Also Read: Maruti open to partnerships to secure automotive supply chain)
Interestingly, Maruti Suzuki India achieved its highest-ever annual sales of 17,29,826 units in 2018-19, garnering a market share of 51.21 per cent. It declined to 43.38 per cent at 13,31,558 units in 2021-22.
To get back its 50 per cent market share, the country’s largest car brand is aiming to drive in new models that will cater to both urban and smaller cities and rural markets as well. Speaking about the strategy, Bhargava said that the automaker would fight to get back to its 50 per cent market share. “We will fight to get back to our 50 per cent market share. How much we succeed only time will tell, but we certainly don’t intend to walk away and say no we don’t want to fight for it. We will fight for our market share,” Bhargava said.
Despite its late awakening, the automaker is aiming to focus more on SUVs to increase its sales and market share. Besides that, it will also focus on other body styles. “I believe the Indian customer has a lot of faith and a lot of trust in the Maruti brand and we will work to maintain the trust of the customer,” Bhargava added.
First Published Date: 28 Aug 2022, 17:19 PM IST