The maker of the Swift and Baleno might be launching greater than half a dozen merchandise this yr, individuals within the know stated. Half of those might be within the fast-growing SUV area and the remaining in its core space of small automobiles. An up to date product vary at Maruti Suzuki would imply its world alliance companion, Toyota Motor, too would spruce up its portfolio in 2022.
The brand new merchandise might assist the native unit of Suzuki Motor seize its misplaced market share, but additionally assist the automaker attain the 2-million annual gross sales mark which has been alluding it for the previous few years.
Within the first 9 months of the continued fiscal 2022, the corporate has produced 1.164 million automobiles, in contrast with 939,000 models in the identical interval final fiscal yr.
Whereas the efficiency up to now has poised the corporate to submit robust double-digit progress in FY22, the brand new launches might assistance is repeat the efficiency subsequent fiscal yr as nicely. A robust Maruti Suzuki, which sells almost half the passenger automobiles in India, may also take the Indian market to robust progress.
The corporate didn’t supply any particular feedback on the brand new product launches or quantity progress plans. However in an electronic mail response to ET’s questions, senior govt director Shashank Srivastava stated one of many key causes for Maruti Suzuki’s continued dominance available in the market was its robust product portfolio.
“We have now been aggressively mapping buyer wants and bringing merchandise aligned with wants of the shoppers throughout segments,” he stated. “Going ahead, we are going to develop our portfolio throughout segments together with SUVs; as identified by you it’s a rising phase.”
In line with a number of individuals within the know, there are eight new merchandise together with facelifts, refreshes and all new fashions which can hit the meeting traces within the coming 18 months. The most important pleasure might be round its collectively developed SUV, codenamed YFG, with Toyota which can tackle phase chief Hyundai Creta. There may be the all-new Jimny, which can wean away a few of Mahindra Thar patrons, and a crossover primarily based on the Baleno. There might be facelifts and mid-cycle upgrades of the Baleno, Ertiga, Wagon R. One other on the anvil is a brand new Alto 800.
The brand new fashions are anticipated to carry 10-15% incremental quantity.
Traditionally, the corporate has launched solely two-three automobiles a yr, together with facelifts, upgrades and new fashions.
This time, previous to the brand new Celerio launch in November 2021, it had not launched a brand new mannequin or improve for greater than 30 months.
Its tepid presence within the SUV phase made an enormous dent on the corporate’s market share. Maruti Suzuki’s share within the SUV market is simply 13%, whereas within the sedan, hatchback and MPV markets, it’s greater than 50%. In all the passenger automobile phase, its share dropped to 44.7% in December 2021 from 49% a yr earlier.
Srivastava stated provide aspect constraints, together with scarcity of digital parts, had been among the many causes for the autumn in market share.
“With pending buyer orders of over 230,000 models and good influx of bookings and strengthened product portfolio, we’re hopeful of gaining it again,” he added.