Maruti Suzuki again achieved 50 percent share in the car market.

New Delhi. Maruti Suzuki has ruled the top position in the Indian automobile market for a long time. The company holds a strong share in the Indian car market and has set many benchmarks with its car sales. However, in recent years the company has registered some decline in its market share. This is due to the competition from other companies in the market. Maruti Suzuki’s share was 51 percent in fiscal year 2020, which came down to 42 percent in fiscal year 2024.

However, this decline is not a sign of Maruti Suzuki’s declining influence, but a strategic move in response to changing market trends and consumer preferences. Despite the decline in overall market share, Maruti Suzuki has seen a significant growth in its performance, especially in the utility vehicle (UV) segment. Backed by a strong lineup of SUVs like Brezza and Ertiga, Maruti Suzuki recorded a massive growth of 75.4 percent in UV sales, taking its total sales figures to 17,59,881 units in FY 2023-24.

As Maruti Suzuki moves towards regaining its old market share, industry analysts at JATO Dynamics have highlighted several strategic imperatives that will lead the automotive giant towards its ambitious target of achieving 50 per cent market share. Can.

A key focus area highlighted by Jato Dynamics is Maruti Suzuki’s mixed fuel strategy, which integrates petrol and hybrid vehicles across its model lineup. Leveraging this hybrid approach has helped Maruti Suzuki not only achieve higher average selling prices but also increase market share despite the absence of electric vehicles in its portfolio.

Expanding its portfolio of CNG variants emerges as an important recommendation. With increasing consumer preference for cost-effective and environment-friendly fuel options, Maruti Suzuki is set to take advantage of this trend by introducing more CNG variants in its product lineup, thereby broadening its customer base and enhancing its competitiveness.

Additionally, the rapidly growing SUV segment presents a significant growth opportunity for Maruti Suzuki. By diversifying its SUV portfolio to cater to different segments and price points, the automotive giant can strengthen its market presence and move closer to its target of capturing 25 percent share of the SUV market.

Tag: auto news, cars, Maruti Suzuki