Maruti Suzuki plans to regain its lost market share by September 2023

dam securities, toyota, suv &, Maruti, Maruti Suzuki

In a bid to regain its lost marketshare,

Maruti Suzuki

, the country’s largest car maker plans to regain its lost market share by September 2023 , which has currently dropped to 43.5% through an offensive product strategy centered on SUVs. This would address major portfolio gaps .

Starting this March 2022, Maruti Suzuki expects to launch four all-new SUVs across key categories, three of which are still untapped categories which include the lifestyle category (Jimny), a mid-size SUV & a 3-row premium SUV by Mar 2023, according to a DAM Securities report.

While many of the existing models will see updates, some of the new SUVs , will be jointly developed by Toyota , it’s global alliance partner. These details were announced at a recent dealer conference .

Maruti Suzuki would continue to focus on alternate fuels (CNG), offering 3-4 more major models within CNG, led by superior cost-economics (thereby strong customer demand pull) and lower emissions, according to DAM Securities report.

It’s also looking to introduce a strong hybrid with much lower emissions and the working extensively on EVs, which it plans to launch before 2025 .

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