INDIA REPORT
A key portion of Maruti Suzuki’s mid-term goal to achieve 50% overall PV (passenger vehicle) market share by becoming the number one SUV seller in the country. This is important for Maruti Suzuki because even though the automaker’s market share in the non-SUV segments is more than 65%, its SUV share was only 10.5% in 2022.
Source: The Times of India Read The Article
Capacity Expansion.
The company is planning to invest Rs 18,000 crore for the Kharkhoda facility in Haryana. This will increase the capacity by one million units. Further, by the end of the decade, Maruti Suzuki plans to invest over 45,000 crore to quadruple production capacity to four million vehicles in order to meet domestic consumer demand and increase exports from India.
The company plans to launch six EVs by 2030 and it expects its export volumes to grow to 7.5 lakh units by the end of the decade. Maruti Suzuki was the largest exporter of cars. The company estimates that by the end of 2030, exports could reach as much as three-quarters of a million cars, a substantial volume, which is equal to the Suzuki Motor Gujarat capacity.
Changing Product Portfolio.
Maruti Suzuki is focusing on growing the SUV segment, and sets goal of doubling market share to 25% in FY2024 by adding products to portfolio.
“Our market share in the SUV segment last quarter stood at 17.5%. With full-year availability of the Grand Vitara, and two new products shortly slated for launch in the compact SUV segment, it is possible to increase our market share to 25% in this category,” – says Shashank Srivastava, senior executive director of marketing and sales at Maruti Suzuki
Service Network Expansion.
The corporation added 310 service touchpoints in 2022–2023, a record high for a fiscal year. Also, the company plans to construct 1,000 service workshops by March 2025. It currently covers 2,271 cities and operates 4,500 service touchpoints PSR
Aditya Kondejkar is Research Analyst – South Asia Operations, for Power Systems Research
