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.
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.