Maruti Suzuki Victoris mid-size SUV breaks cover aiming bigger market pie, targets young buyers

Maruti Suzuki on Wednesday took the wraps off its latest product in the Indian passenger vehicle market, the Victoris, a mid-size SUV, which was previously rumoured to be launched as Escudo, since the carmaker filed patents for both the nomenclatures. While the auto company has not revealed the pricing of the Maruti Suzuki Victoris, it has revealed that the new SUV will be sold through the OEM's Arena retail network, which focuses on mass-market products. Bookings for the SUV have also commenced. Customers seeking to buy the SUV can book it at ₹11,000.

The Maruti Suzuki Victoris is expected to be positioned between two of the automaker's successful SUVs in the Indian market, Brezza and Grand Vitara. While the Brezza is sold through the Arena network, the Grand Vitara is a more premium product and retailed through the Nexa chain. Upon launch, the Maruti Suzuki Victoris is expected to throw a tough challenge to some of the key rivals that include the Hyundai Creta, Kia Sonet, Tata Curvv, Honda Elevate, among others.

Maruti Suzuki has invested around ₹1,240 crore in the development of the Victoris. The SUV will be produced at the company's Kharkhoda plant. Also, besides being sold in the Indian market, the SUV would be exported to around 100 markets globally.

Maruti Suzuki Victoris: Rationale behind SUV portfolio expansion

Maruti Suzuki is the biggest carmaker in India, holding the largest chunk of the market pie. In the utility vehicle segment, which has been witnessing rapid growth over the last couple of years, Maruti Suzuki holds a sizeable chunk with its range of products such as the Fronx crossover, SUVs like Brezza, Grand Vitara and Jimny, MPVs like Ertiga, XL6 and Invicto. However, with the rising competition and rapidly evolving consumer demand, the automaker aims to ramp up its efforts, and the Victoris comes as part of that strategy.

Maruti Suzuki India MD and CEO Hisaschi Takeuchi said that SUV contribution to the OEM's total sales has grown nearly threefold, rising from 8.9 per cent in FY21 to nearly 28 per cent in FY25. The Indian mid-sized SUV market, where the newly introduced Victoris will be positioned, is currently around 9.5 lakh units per annum, accounting for around 40 per cent of the overall SUV segment. Maruti Suzuki aims to grab a sizeable chunk of this pie. Takeuchi noted that the contribution of SUVs continues to go up in the company's overall sales.

The automaker began its journey in the SUV space by establishing a strong foundation in the entry-SUV segment with models like Brezza and Fronx. The company received a pretty good response with these vehicles, which also helped the company secure a leadership position in the entry-SUV segment. Now, it aims higher in the category.

In a nutshell, the strategy of having a larger number of SUVs in its portfolio translates to a more revenue stream for Maruti Suzuki. Hence, the only rationale behind expanding the company's SUV lineup with Victoris is the expansion of business and opening more revenue streams.

Maruti Suzuki Victoris: Typically targets young urban customers

The Maruti Suzuki Victoris typically aims to tap the consumer base that is young and seeks more than just functionality of commuting from one point to another. This is why the OEM has packed a wide range of features aided by advanced technologies. It comes loaded with plenty of premium features in an attempt to grab the attention of the tech-savvy new generation consumers who seek more from their vehicles.

Speaking about this strategy, Takeuchi said India has the largest youth population in the world, who will drive growth and become the company's current and future customers. "The Indian automobile industry is changing as a new set of customers is entering the market. They are the young generation and represent the new India. So, we thought, why not create a product that raises the bar in the SUV segment," he said.