In a significant move to recapture its leading position, Maruti Suzuki has declared its intention to introduce eight new SUV models over the next five to six years. This strategic expansion will increase its total model count to 28, signaling a strong commitment to regaining a 50% share of the domestic passenger vehicle market. The company’s market share has recently dipped to around 39% in the April-September period of the current fiscal year, a notable decrease from its peak of 51.2% in FY19. The upcoming SUVs are expected to be a key driver in reversing this trend.
Company leadership has openly discussed the increased competition within the Indian automotive landscape. They have emphasized that achieving the 50% market share objective will represent an unprecedented challenge. The strategy involves not only expanding the SUV segment but also a commitment to becoming a leader in EV production and exports, reflecting a comprehensive approach to future growth and sustainability in the evolving Indian market.