Maruti Suzuki loses top SUV-maker title in just two months
What's the story
Maruti Suzuki has lost the highly coveted top spot in the SUV category in India. Although Fronx and Jimny initially soared to the top of the Indian market with a 25% share in January, their sales started to dip slowly, with poor festive demand further contributing to this decline. By September, the carmaker's ranking slipped to fourth place, trailing behind Mahindra, Tata Motors, and Hyundai on our shores.
Decline
Mahindra regains top spot as Maruti Suzuki struggles
Despite holding the top spot in August with a 24% market share, Maruti Suzuki's SUV sales began to falter in September. Mahindra capitalized on this opportunity, reclaiming the lead. With a broader SUV lineup and increased production capacity, Mahindra successfully outperformed Maruti Suzuki in the highly competitive segment. Apart from Mahindra, both Tata Motors and Hyundai also gained traction by offering better discounts during the festive season.
Future
Time for soul-searching for Maruti's SUV portfolio
Maruti Suzuki's rapid descent in the SUV rankings has sparked questions about the company's strategy and product positioning. One analyst said the "desperation shown by Maruti in claiming the #1 position in the SUV market through expensive ad campaigns" ultimately proved ineffective. It remains to be seen how the company will re-work its strategies to take on rivals in 2024.