Maruti Suzuki India Ltd has surged ahead in the rapidly expanding SUV (sport utility vehicle) segment, marking a turnaround after several quarters of market share loss due to declining small car sales and lack of new SUV launches, following its exit from the diesel-engine market in 2020.
Maruti has made significant progress in realizing its 2023-24 target of 25% share in India’s SUV market, consistently increasing its share for three straight months, spanning July through September. In July and August, the company’s SUV market share exceeded 24.5%, and it expects a similar performance in September. According to production data from April and August, it has already secured a leadership position in this segment. During the ongoing month, the firm expects to achieve similar dispatch numbers as in August, totalling 189,000 units.
According to two industry insiders with direct knowledge of the data, September is expected to witness the highest-ever PV sales in a single month at 361,000 units.
This story is from the September 27, 2023 edition of Mint Mumbai.
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This story is from the September 27, 2023 edition of Mint Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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