Notwithstanding the double digit decline in wholesales, Maruti Suzuki India Ltd has managed to hold on to its position as the country’s largest utility vehicle manufacturer, commanding a market share of 25.46% in the first four months of the current fiscal year started April.
The launch of multi-purpose vehicle XL6 has further bolstered Maruti’s position in the face of stiff competition from Hyundai Motor India Ltd and Mahindra and Mahindra Ltd.
“Maruti Suzuki has topped the chart of utility vehicle sales, by registering a market share of 25.46% during first four months of FY 2019-20. The company has redefined the utility vehicle segment in India with distinctive offerings for the customers. Maruti Suzuki’s UV range of Vitara Brezza, S-Cross and Ertiga revolve around best of design, technology and experience," the company said in a release on Tuesday.
In recent years, the company has strategically widened its utility vehicle portfolio matching customer demands, according to Shashank Srivastava, executive director, marketing & sales.
“Our offerings in the utility vehicle segment - Vitara Brezza, S-Cross and Ertiga, are aimed to tap the dynamic needs of our consumers. The recently launched XL6 reflects aspirations of urban individuals. We will continue to boost our relationship with customers by focusing to create products for them that are best in-class in quality, features and technology," added Srivastava.
Maruti lost the position of the largest utility vehicle manufacturer in July when Hyundai sold more vehicles in the segment on the back of its new compact SUV Venue.
With no recovery in consumer demand in sight during the festival months, Maruti Suzuki on Monday said the number of vehicles manufactured in its three plants declined significantly by 33.9% year-on-year to 111370 units in August.
In the corresponding period last year, the company manufactured 168725 units of vehicles across its plants. This is probably the sharpest fall in production of vehicles registered by the New Delhi-based vehicle manufacturer.