8 December 2022

New Delhi: Maruti Suzuki expects sub substantial increase in its market share in the sports utility vehicle ( SUV ) segment this fiscal with the new Brezza and Grand Vitara receiving a robust response, according to a senior company official. The auto major also plans to introduce more models in the SUV segment in the remaining part of the financial year.

” In July we were at 7.1 % ( market sh in the SUV segment … it increased to 10.8 % in August, 13.01 % in September, and 14.4 % in October. So, it is showing an increasing trend, ” Maruti Suzuki India ( MSI ) senior executive officer marketing & sales Shashank Srivastava said.

SUV market share this fiscal
SUV market share this fiscal

He noted that the market share would have increased further if the company had not faced supply issues with Brezza last month. ” I would not like to project a going forward figure but can safely say that we are expecting a good increase ( in market share ) this fiscal as we expect to launch a few more SUVs, ” Srivastava said. He noted that the gain would help it regain market share in the overall passenger vehicles segment.

” Strengthening the SUV segment is an important part of our strategy to regain the overall market share which we lost due to non-presence in the SUV segment, ” Srivastava said. MSI ended the last fiscal with a market share of 10.9 % in the SUV space.

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