Maruti Suzuki claims 50% of all passenger vehicle sales in 2020
Maruti Suzuki India (MSI), for the fourth consecutive year, has emerged as the top automaker in terms of customer choice – with half of India’s passenger vehicles (PVs) sold in 2020 coming from the brand.
Maruti Suzuki India (MSI), for the fourth consecutive year, has emerged as the top automaker in terms of customer choice – with half of India's passenger vehicles (PVs) sold in 2020 coming from the brand.
The feat is notable, given that MSI accounted for 50 percent of all PV sales in India, while catering to 80 percent of the market since it exited from diesel cars category in early 2020.
Before its diesel exit, the category comprised 30 percent of MSI's annual volume or 500,000 cars. MSI now holds 14 percent market share in SUVs (against 26 percent in 2018), 50 percent in sedans, 55 percent in multi-utility vehicles (MUVs – from 33 percent), 64 percent in compact cars (from 53 percent – biggest gain of 11 percent), 67 percent in small cars, and 98 percent in vans (from 81 percent), the report said.
Notably, the Indian automaker successfully beat off competition from MG Motors and Kia which saw huge sales jumps in the country, especially since it lacks alternatives in the mid-size sports utility vehicle (SUV) segment where Hyundai and Kia lead.
Maruti executive director Shashank Srivastava acknowledged the slow performance in India's biggest growth segment of SUVs as "below expectations" adding: "Though we are leaders in the compact SUV space with Brezza, we need to focus on improving our S Cross volumes in the mid-SUV. We have succeeded in the past with our relentless focus on customer understanding, requirements and satisfaction. That will remain our mantra going forward as well."
In terms of demographics, total sales share from rural markets has jumped to 41 percent from 35 percent, as the company has 'systematically' campaigned in newer markets including villages, districts and states with fast rising per capita income.
The growth across segments comes despite MSI not having launched any new vehicle in 2020, disruption due to enforcement of BS-VI standards, and despite the COVID-19 pandemic and its impact.