- Will continue to offer cars with multiple fuel options
- To introduce more premium cars
Maruti Suzuki’s 40-year legacy in India started with the SS80 (well-known as the Maruti 800). Small and budget cars have always been Maruti’s forte with models available for almost every type of buyer, especially new entry-level small cars. And now, after a stint of four decades, the brand has over 15 cars in its stable with starting prices ranging from just Rs. 4 lakh to Rs. 11.50 lakh. Having said that and given the growth of SUVs and buying preference shifting to bigger and premium cars, Maruti Suzuki witnessed that the growth of small cars in the last FY2022-23 became stagnant.
Currently, the budget range is sold through the automaker’s Arena showrooms, including small cars such as the Alto K10, Wagon R, and Celerio. While these cars account for a major chunk of sales, the brand sees no significant growth in volumes from this segment in the coming years. This could be attributed to customers’ shifting interest towards bigger and premium cars.
Maruti’s alternate fuel cars
Maruti Suzuki remains the only brand to offer over 12 CNG-powered cars right now. Not only that, a majority of its cars are equipped with mild-hybrid technology. In fact, the Grand Vitara also boasts a strong-hybrid powertrain. Come 2025, Maruti will launch its first electric vehicle, eXV SUV, the concept of which debuted at the Auto Expo 2023.
More Nexa cars inbound?
Maruti’s premium retail arm, the Nexa sub-brand was introduced in August 2015 with the launch of the S-Cross. The crossover was later joined by Baleno and Ignis hatchbacks in the following years. Presently, six models are sold via Nexa outlets, the most recent addition being the Fronx crossover. On a monthly basis, Nexa cars contribute approximately 32,000 to 35,000 units to the overall domestic sales of the company.
Maruti to introduce new premium cars?
Last year, Maruti ventured into the mid-size SUV segment with the Grand Vitara. The SUV was an instant success and the brand sells 8,000 to 10,000 units of the Grand Vitara every month. The next offering in the pipeline is the Jimny and Toyota Hycross-based MPV. While the prices of the Jimny are expected to be out next month, the MPV, which is likely to be called ‘Engage’, will only make its debut by July 2023.
In a recently held annual results meeting, R C Bhargava, Chairman, Maruti Suzuki India Limited, said, “The demand for small cars is stagnant. In FY2023-24, we don’t really see significant growth for it.”
