To compete with Tata, Hyundai, Maruti made a big announcement, now it will do this work.The company’s chairman and managing director RC Bhargava said Maruti “will not back down” and will struggle to grab 50 per cent market share. For more information, read.
To compete with Tata, Hyundai, Maruti made a big announcement, now it will do this work
The country’s largest car maker Maruti Suzuki India aims to regain 50 per cent share in the Indian market. The company’s chairman and managing director RC Bhargava said Maruti “will not back down” and will struggle to grab 50 per cent market share. Maruti is celebrating 40 years of operations in the country. The company’s market share fell to 43.38 per cent in the last financial year 2021-22 from a peak of 51.21 per cent in the financial year 2018-19.
The company will bring new models
In an effort to re-establish its dominance in the Indian market, the company is planning to launch models catering to the needs of small towns and rural areas apart from urban areas. Passenger vehicle sales in the Indian market stood at 33,77,436 units in the financial year 2018-19, which declined to 30,69,499 units in 2021-22.
highest annual sales
Maruti Suzuki achieved its highest ever annual sales of 17,29,826 units in 2018-19. The company’s market share at that time was 51.21. Which has come down to 43.38 percent or 13,31,558 vehicles in 2021-22.
Will the company introduce an SUV?
Bhargava said, “We will fight to get our 50 per cent market share. How successful we are, only time will tell, but we have no intention of going back. We will use sports utility vehicles (SUVs) or any other ‘body style’ to achieve this goal, he said. model will be introduced. Bhargava said, “I believe that Indian consumers have a lot of trust in the Maruti brand and we will work to maintain that trust.”
cheap and expensive cars
Bhargava said the domestic market is divided into ‘Bharat’ (low-cost vehicles) and ‘Bharat’ (expensive vehicles). “We have to ensure that we have products for both the segments in the market,” he said. There were not enough products. He said that we are trying to remove this flaw.