Maruti Suzuki inches closer to 50% market share with Baleno and Vitara Brezza
Maruti Suzuki India Ltd. has been experiencing immense growth from the last two years, with the automaker finishing the past fiscal year with a market share of 46.8 percent, which is the highest share recorded by the company in the past seven years. Now, India’s largest automaker has recorded a market share of 48 percent in April 2016, which has been mainly achieved due to the extraordinary response received from two recent launched products, the Maruti Baleno premium hatchback and the Maruti Vitara Brezza compact SUV.
But what comes as a surprise to a brand like Maruti Suzuki which has been the king of the small car segment ever since its inception, sales of Maruti branded small cars, including that of the Alto and WagonR, have declined by 9.9% percent during the last fiscal year. Meanwhile, cars like the S-Cross, Baleno and Vitara Brezza, which were launched in India in 2015, managed to cumulatively account for 25.42 percent of the entire volume of cars sold by the automaker. This clearly depicts the fact that Maruti Suzuki has acknowledged change in customer priorities, and is now focusing on the slightly premium segment.
The Maruti S-Cross was a slow selling product after its launch, but after a recent price cut of around 1 lac rupees, this Maruti crossover has settled at around 2,500 units of sales per month. Meanwhile, the Vitara Brezza has managed to make a dominance in the compact SUV market, and has accumulated around 55,000 bookings. The Maruti Baleno, on the other hand, is ruling the premium hatch segment with a booking record of a whopping 100,000 units.
With the Suzuki Ignis is expected to be launched near Diwali, along with the Baleno Boosterjet 1.0 and Vitara Brezza petrol variants, Maruti will soon achieve the coveted 50% market share.