grand vitara: Maruti sees top position in India’s fast-growing SUV market, poised to launch multiple models

grand vitara: Maruti sees top position in India's fast-growing SUV market, poised to launch multiple models
The country’s largest automaker, which has long ruled the roads with its range of small cars, is looking to take the top spot in the country’s burgeoning SUV market in the coming months by driving multiple models.

The company has lined up a range of SUVs with prices up to Rs 20 lakh, people who are aware of its plans said. Maruti Suzuki, who launched the all-new Brezza late last month and made the global debut of the Grand . mid-sized SUV

Wednesday has already received 73,000 bookings for the two cars.

Maruti Suzuki Managing Director Hisashi Takeuchi said the Indian auto industry is undergoing transformational changes in technology, customer preferences and purchasing power. There has been a growing preference for SUVs in recent years, with the segment currently contributing nearly 40% of total industry sales. “We are by far the market leader in every other segment. We are lagging behind in SUVs. We have some catching up to do. We want to be the number one player in SUVs as soon as possible,” he said.

At present, South Korean automaker Hyundai is the leader in the Indian SUV segment. It posted sales of about a quarter of a million SUVs in the past fiscal year and a 22% market share.

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SUV sales, which are now neck and neck monthly with Hyundai Motor India. Tata Motors sold 205,000 SUVs in FY22 for an 18% market share. Mahindra & Mahindra had a 14% share in the same period (excluding the Bolero). Maruti Suzuki had a share of about 12% with the only model Brezza.

Takeuchi, speaking on the sidelines of the unveiling of the Grand Vitara that will go on sale in September, said he expects 50% of all passenger cars sold in the local market to be SUVs in the future.

“Packed with new technological advances, the All New Brezza was our offering to customers in the entry-level SUV segment. With the Grand Vitara, we are ushering in a new era of SUVs in the mid-size SUV segment,” said Takeuchi. The mid-sized SUV segment accounts for nearly half of sales in the total SUV space, with sales of 540,000 units in the past fiscal year. The segment is expected to grow at a CAGR of 10% and double over the next 3 to 4 years.

Maruti Suzuki Grand Vitara – among other options will be equipped with strong hybrid technology coming from Toyota. Takeuchi said the vehicle is an “important” step in the company’s journey to carbon neutrality. “We are confident that Grand Vitara will accelerate mass electrification and the realization of a carbon neutral society in India,” he said, adding that Maruti Suzuki has plans to introduce multiple technologies in its journey to decarbonization, such as CNG , flexfuel, strong hybrid and EV in the coming years.

While automakers such as Hyundai, Tata Motors and Mahindra are investing in electric vehicles, Japanese manufacturers Suzuki, Toyota and Honda are owned in a country where more than 70% of power is generated from coal, charging infrastructure is patchy, hybrids are the best solution to immediately reduce emissions and the best available solution to bridge the gap to fully electric vehicles.