Aiming to safeguard its position in the auto sector, Maruti Suzuki India plans to enhance and protect its market share in the non-SUV space while expanding its presence in the SUV segment, where it has been legging. According to a senior company official, as part of a twin-pronged strategy, it will focus on both of the mentioned aspects. The company currently has a market share of 67 per cent in the non-SUV space, which is also its highest in two decades, however, it is far behind in the fast-growing SUV segment with an overall market share of just around 13 per cent.
MSI Senior Executive Director (Marketing and Sales) Shashank Shrivastava said, "The objective seems to be clear, we need to protect and enhance market share in the non-SUV segment while capturing more of SUV (share)..it is a very simple, clear and quite obvious goal,"
He further added that in the SUV segment the company plans to launch new models, while in the non-SUV market comprising hatchbacks, sedans and vans, it aims to bring in new features, technology and aggressive design language.
When asked if the company is also looking into bringing a brand new entry-level car, he replied, "It is a possibility but we have to finalise our plan...we will do anything to protect our market share."
Maruti Suzuki India in the SUV market is already in the process of taking a number of measures, including back-to-back product launches to cater to a range of customers across various emerging sub-segments.
Srivastava also highlighted that the company has just two models in the overall SUV segment which at the moment has around 48 products. "The real weakness seems to be in the mid-SUV segment where our market share is just around 3 per cent," he added. The mid-size SUV segment is dominated by models like Hyundai Creta and Kia Seltos.
The auto major is also targeting to again go past the 50% mark in the domestic passenger vehicles segment, however, the company concluded its last fiscal at around 43 per cent market share. He further added that the company is now gearing up to launch a mid-sized model of its SUV Brezza to challenge the competitors.
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