The market is likely to grow by double digits for the second consecutive year, approaching its previous peak of 3.7 million units.
In that part, Suzuki Martis Against the backdrop of the largest product offensive seen in recent years, we would like to maintain strong growth momentum in FY2010. This will significantly enhance the SUV portfolio. We plan to utilize a new range of SUVs, both less than 4 meters long and longer, to regain the lost share.
Reflecting current market demand and potential market growth in 2011, Shashank Srivastava, Sr ED, Sales and Marketing, Maruti Suzuki said the company’s demand recovered steadily this year. Despite supply-side constraints due to semiconductor issues, this year’s PV sales were around 3.1 million units, an equivalent of about 14% growth.
“This is still about 10% lower than 2018-19 PV sales of 3.36 million,” he said. “The industry consensus seems to be up to 3.5 million units next year, but be aware of factors such as inflation, liquidity, Covid waves, supply-side turmoil, and soaring commodity and fuel prices.”
Indeed, other Martis Suzuki rivals at the Indian Automobile Manufacturers Association’s look-ahead conclave are expected to continue double-digit growth in 2011. Senior managers at Maruti Suzuki, Hyundai Motor, Tata Motor and Kia predicted double-digit growth.
The shortage of semiconductors, which are the main components of automobiles in the new era, has put pressure on automobile production worldwide. Maruti Suzuki lost about 90,000 production from October to December due to a chip shortage. The situation seems to be improving now, but the turmoil continues.
Srivastava said market demand looks promising once supply-side constraints are set. The company has confirmed sound bookings and currently has 270,000 purchase orders.
In 2021, 3.08 million passenger cars were sold in the domestic market, an increase of 27% from 2.43 million units in the same period of the previous year. Maruti Suzuki had a domestic market share of about 45% at the end of last year.
Srivastava explains the current market share, and Maruti’s market share in the non-SUV segment has increased from about 55% in the last five years to 66% this year. However, the low share of the growing SUV segment has had some impact on market share.
Srivastava declined to comment or confirm future product plans, saying: “There are only two models (46 models) in a crowded SUV space, so we need to strengthen our SUV portfolio. We plan to do this in the near future.”
The company will enter the fast-growing 4.2-meter SUV segment to increase sales volume and regain market share.
The biggest excitement is the codenamed YFG, an SUV co-developed with Toyota that will take over the segment leader Hyundai Creta. The all-new Jimny could pull some Mahindra Thar buyers apart. A crossover based on Baleno is also planned. The card also has Ertiga and Wagon R model changes and midcycle upgrades.
Already, the newly launched Baleno has exceeded reservations for more than 35,000 units within a month of its launch.
“Apart from SUVs, Martis Suzuki has a 66% share of the local passenger car market. However, SUVs currently account for 39% of domestic sales. 46 SUVs are sold in India. Maruti Suzuki has only two models in this segment. We want to increase our presence in this category, “Srivastava added.
Maruti Suzuki currently dominates the entry SUV segment with a 23% share. However, in the medium-sized SUV segment, it has a modest presence with a share of about 4-5%. This reduced the company’s overall presence in this category to 12-13%.
https://economictimes.indiatimes.com/industry/auto/cars-uvs/maruti-suzuki-expects-passenger-vehicle-sales-to-expand-in-double-digits-in-fy23/articleshow/90107490.cms New Baleno: Maruti Suzuki expects passenger car sales to grow by double digits in 2011.