July sales of Maruti SUVs lead the way

• Published On: 9 August 2023
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According to statistics, the country's largest automaker sold 42,620 units in the fast-growing segment last month, ahead of its domestic competitor Mahindra & Mahindra. Mahindra sold 36,205 units, followed by Hyundai Motor India with 32,991.

Formerly recognized for its assortment of compact cars, Maruti Suzuki has emerged as the foremost purveyor of sport utility vehicles (SUVs) in the domestic market for the recent month. This accomplishment was propelled by the triumphant entry of three of the company's novel offerings - Fronx, Brezza, and Grand Vitara - all of which positioned themselves among the top 10 models retailed in the SUV category in July.

In this rapidly expanding sector, the country's most prominent manufacturer of passenger vehicles outpaced the indigenous automaker Mahindra & Mahindra, having sold a total of 42,620 units in the previous month. In contrast, Mahindra managed to move 36,205 units, while Hyundai Motor India secured the next position with 32,991 units sold.

According to Shashank Srivastava, Maruti Suzuki's Senior Executive Officer for Marketing and Sales, their success was largely owed to astute product strategies, presenting various powertrain options encompassing gasoline, CNG, and hybrid systems. This strategic approach facilitated the brand in captivating consumers at a remarkable pace.

Our estimation of the rate at which this market would develop was off the mark, but we saw the rising inclination towards SUVs among consumers. We responded with corrective measures, introducing multiple products in the past year, resulting in a rapid escalation of our market share in this segment," explained Srivastava.

In July, the company's portion of the SUV market experienced a notable surge, soaring from a modest 8.5% in the initial quarter of the preceding fiscal year to an impressive 24.7%. This transformation followed the debut of new models, including the Fronx and the Jimny at the beginning of the present fiscal year, while the Grand Vitara entered the scene in September 2022.

Although Mahindra initially led the cumulative sales in the SUV category between April and July, the opening four months of this fiscal year, Maruti Suzuki is poised to bridge the gap very soon. With more than 110,000 backlogged orders for their range of SUVs, the company foresees solidifying its lead over competitors Mahindra and Hyundai throughout the remaining period of the fiscal year.

The surging sales of SUVs have also enabled Maruti Suzuki to elevate its market share in the passenger vehicle segment, reaching 43.3% last month compared to 41.8% in July 2022.