Maruti Suzuki Targets 50% Indian Market Share

By siliconindia  |  Thursday, 20 February 2025, 09:54:50 AM IST

Maruti Suzuki Targets 50% Indian Market Share
India's biggest automaker, Maruti Suzuki, is looking to regain its market leadership in the passenger vehicle (PV) space with a target of grabbing a 50% market share by 2030. After once holding more than half of the market, the company's market share had dipped to a level of approximately 41%, but it is now planning its comeback.
In a special conversation with Acko Drive, Maruti Suzuki MD & CEO Hisashi Takeuchi underscored that the growth strategy of the company will be SUV-focused. "Whenever the time arrives, we will do the small change or model change like we did for Swift and Dzire", Takeuchi replied, suggesting ongoing modifications to current models. But the company's major focus will be on introducing new SUVs, which have been ruling the Indian market in the last few years.
As of now, Maruti Suzuki enjoys dominance in the compact SUV category with the Grand Vitara and subcompact SUV category with Brezza and Fronx. Yet, it has not set foot in the burgeoning micro SUV segment, dominated by Tata Punch and Hyundai Exter. Tata Punch was the best-selling car in 2024, with the segment promising tremendous potential. If Maruti Suzuki had launched a product to compete, things might have become more competitive.
Another crucial step in Maruti Suzuki’s market expansion is the upcoming e Vitara, the brand’s first electric vehicle (EV). With the compact electric SUV market gaining momentum, the company aims to establish itself as the number one EV player within a year of launch.
By strengthening its SUV lineup and venturing into the EV space, Maruti Suzuki is preparing for aggressive expansion. With the Indian auto sector changing at a fast pace, the company's renewed thrust may assist it in regaining lost dominance.

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