Maruti is known as the common man's car brand. They control over 2/3rd of the entry-level car market in India, which is insane. But, its largest customer base was hit the hardest by Covid. Supply bottlenecks and rising fuel prices made owning your first car even more expensive.
Also, the trend of owning hatchbacks has been declining. Fun fact – The share of small cars in the total passenger vehicle market is down from 65% in FY12 to 45% in FY22. On the flip side, India's love for larger SUVs has increased multifold. SUV sales have +2x in the past five years and are estimated to make up 50% of the total market by FY26.
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Maruti has identified the huge business potential and aims to ramp up its SUV portfolio. The all-new Brezza will be launched later this year. Going forward, Maruti says it will double its SUV capacity to 3 lakh units in the current financial year.
Maruti has built a solid brand with a robust pan-India distribution network over the years. But, that would not guarantee it an instant success. The top three players – Hyundai Motor, Tata Motors, and M&M control over 50% of the SUV market. Let's see how this goes.
Maruti has identified the huge business potential and aims to ramp up its SUV portfolio. The all-new Brezza will be launched later this year. Going forward, Maruti says it will double its SUV capacity to 3 lakh units in the current financial year.
Maruti has built a solid brand with a robust pan-India distribution network over the years. But, that would not guarantee it an instant success. The top three players – Hyundai Motor, Tata Motors, and M&M control over 50% of the SUV market. Let's see how this goes.
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