Maruti Suzuki India (MSI) plans to protect and enhance its market share in the non-SUV space while expanding presence in the SUV segment, where it has been lagging behind the competition, as part of a twin-pronged strategy to safeguard its position in the auto sector, as per a senior company official.
The company currently has a market share of 67 per cent in the non-SUV space, its highest in two decades, but lacks muscle in the fast-growing SUV segment with overall market share hovering around 13 per cent.
“The objective seems to be clear, we need to protect and enhance market share in the non-SUV segment while capturing more of SUV (share)..It is very simple, clear and quite obvious goal,” MSI Senior Executive Director (Marketing and Sales) Shashank Srivastava told PTI in an interaction.
In the SUV segment, the company plans to launch new models, while in the non-SUV space comprising hatchbacks, sedans and vans, it aims to bring in new features, technology and aggressive design language, he added.
Asked if the company would also look at bringing a brand new entry-level car, he said: “It is a possibility but we have to finalise our plan..We will do anything to protect our market share.”
In the SUV space, MSI is already in the process of taking a slew of measures, including back-to-back product launches to cater to a range of customers across various emerging sub-segments.