Maruti Suzuki plans a fresh SUV offensive to regain 50% share
India's largest carmaker will also strengthen its entry-level cars as it looks to fend off Indian and foreign rivals' bid to take market share away. Maruti has lost ground to its rivals, with its share in retail sales going down from 48.73% in FY21 to 40.25% in FY25.
Tokyo: The country’s largest carmaker, Maruti Suzuki Ltd, plans to introduce eight sports utility vehicle (SUV) models in the Indian market in the next five to six years as it looks to regain 50% market share, targeting electric, hybrid, gas and biofuel vehicles.
The company would also strengthen its entry-level cars as it looks to fend off Indian and foreign rivals' bid to take market share away, Suzuki Motor Corp. chairman Toshihiro Suzuki told reporters on the sidelines of Japan Mobility Show 2025 on Wednesday. “We will be carefully bringing products and technologies across segments to fulfil the aspirations of different customers."
“From entry-level cars for the first-time buyers to large SUVs and MPVs for higher-income customers, we will work on a variety of products," said Suzuki, who is also the representative director and president at Suzuki Motor. Expecting the entry-level cars to grow, he said the company will rely on technologies like compressed natural gas (CNG) and compressed biogas (CBG) to grow in these segments.
The announcement comes after Hyundai Motor India Ltd, Tata Motors Ltd and Mahindra and Mahindra Ltd announced their product roadmap for the next five years as they expand their portfolio in the Indian market. Earlier this month, Hyundai, the country’s second largest carmaker, announced that it will launch 26 models in the next five years and is targeting more than 80% share of its portfolio as SUVs. Tata Motors plans 30 new models, including refreshes and upgrades, by 2030, while Mahindra has planned 23 new models and refreshes.
Maruti Suzuki did not specify whether it will launch new models in the small hatchback segment, with the focus currently on the SUV segment, which accounted about 55% of India’s auto market in the financial year 2025.
“While we don’t know about the future, we have to strengthen the entry car segment," he said, when asked whether the GST cut will lead to a revival of small cars in India that have dwindled in the last few years. The company knows the competition in the Indian market has increased with rivals doubling down on their SUV models.
Market share goal
Maruti Suzuki’s product offensive comes after the company announced ₹70,000 crore capital investment in the Indian market by 2030-31. Toshihiro Suzuki also highlighted that Maruti wants to regain its 50% market share, which it has lost to rivals like Tata Motors and Mahindra on SUV models.
“We remain committed to achieve a 50% market share and become No.1 in EV production, sales, and exports. And we are on course to expand production capability to 4 million units. This capacity expansion will fulfil domestic demand and also help us expand exports," Suzuki said.
Since the financial year 2020, the country’s largest carmaker has continued to lose ground to its rivals, with its share in retail sales going down from 48.73% in FY21 to 40.25% in FY25.
Maruti had lined up two SUV model launches this year. While its new mid-size SUV Victoris was launched in September, its debut electric vehicle Maruti e-Vitara for the Indian market is expected to be launched in the current financial year.
The share of sports utility vehicles in Maruti Suzuki’s portfolio has reached over 28% from around 10% three years ago. The management has not offered any guidance on the share it targets for SUVs in its portfolio.
So far this calendar year, Maruti’s shares have surged 44% against a 16% surge in Nifty Auto during the period.
(The writer is in Tokyo at the invitation of Maruti Suzuki)
topics
