Maruti Suzuki India, which leads the passenger car market with a 42 % share, has set its sights on additionally being the chief within the SUV market. The firm, which at the moment has an 18.25 % share of the utility car market, targets to double its SUV gross sales in in FY2024.

1. Maruti Fronx launch by April 2023
2. Jimny worth announcement by late May 2023
3. Grand Vitara ready durations growing quickly

Our sister publication Autocar Professional learns that with simply the brand new Brezza and the Grand Vitara, Maruti Suzuki is about to shut FY2023 with (UV) gross sales of round 2,00,000 to 2,25,000 items. This is about to greater than double with the introduction of latest fashions just like the Fronx, five-door Jimny and full yr of manufacturing of its Grand Vitara midsize SUV that was launched in September 2022. This would imply the corporate’s UV gross sales, which incorporates the favored Ertiga and the XL6 MPVs, will doubtless surpass the half-a-million UV gross sales milestone within the home market in FY2024.

Shashank Srivastava, senior government director, Sales and Marketing at Maruti Suzuki India, instructed Autocar Professional, “We have the Brezza as the entry SUV, Grand Vitara the midsize SUV and now with two more SUVs (the Jimny and Fronx), we should be No.1 in SUVs in the next financial year. Our booking momentum is strong, led by a new range of SUVs. Our total pending booking at present is around 4,05,000 units helped by fresh bookings of the new Fronx and Jimny SUVs, and pending bookings of Brezza and Grand Vitara, which add up to 1,45,000 units.”

As per the corporate’s manufacturing plan, Maruti Suzuki could find yourself with a (UV) market share of round 23-24 % in FY2024, say sources. Srivastava doesn’t give any steerage of volumes however says that “the eventual goal is to regain 50 percent market share in the overall PV market. Looking at the growth trends across segments, we should ideally have a 33 percent market share to inch back to half of the market. It will be tough to attain it next year but in the following year, it may be possible.”

Making probably the most of a booming phase

Since the previous three-odd years, the booming UV market has been the driving force of development within the total PV market and has already crossed 1.6 million items within the first 10 months of the continued fiscal. Given the surging demand, SUVs are prone to account for nearly 45 % of the general passenger car market, which is about to cross a brand new milestone of 4 million items within the subsequent monetary yr.

Inventory ranges at dealerships are prone to cross 2,00,000 items by the top of February 2023 – that is the best inventory at shops for the primary time in virtually two years. Factory provides are bettering, shares at dealerships are nearing normalcy and the demand momentum can also be sustaining. According to Srivastava, “One was expecting the booking momentum to slow down after the recent price increase, but the traction is still very strong and it will be interesting to see how the demand momentum continues after February.”

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Do you suppose the upcoming Fronx and Jimny SUVs will assist Maruti Suzuki be a pacesetter within the SUV phase? Let us know within the feedback beneath. 

Also see: 

Maruti Suzuki Eeco completes 10 lakh unit gross sales