Maruti Suzuki’s premium brand, Nexa, has emerged as the fastest-growing car retail brand in 2023, showcasing a remarkable growth rate of over 50 percent in a market that experienced a moderate overall growth of 8 percent. Bolstered by the success of its new SUV lineup, including the Fronx, Jimny, and Grand Vitara, the Nexa channel achieved an unprecedented milestone by surpassing half a million unit sales in 2023, marking a significant achievement for the brand. Taazinews 24 has extended its presence to WhatsApp. Tap here to join and receive the latest updates on Automobile News.

Key Highlights:

Maruti Nexa Sales Surpass Competitors: In 2023, Maruti Nexa outpaced competitors, particularly Mahindra, solidifying its position as a dominant player in the premium car segment.
Rapid Expansion of Nexa Outlets: Over the course of eight years, Nexa has expanded its presence to 478 showrooms in 293 cities across India. This strategic expansion has allowed Nexa to effectively cover 82 percent of the retail market and contribute to 95 percent of industry wholesales.
SUV Leadership in H1 2023-24: The launch of new SUVs, including the Grand Vitara, Fronx, Jimny, and the Invicto, played a pivotal role in doubling Maruti Suzuki’s market share in SUVs. Maruti emerged as the No. 1 SUV manufacturer in the first half of the financial year 2023-24.

Market Dominance and Growth Strategy:

Shashank Srivastava, senior executive officer of sales and marketing at Maruti Suzuki, emphasized the impact of Nexa’s enhanced UV portfolio. He mentioned, “Nexa played a crucial role not only in reaching out to a new customer base for Maruti Suzuki but also significantly contributed to the doubling of the market share in SUVs for the company.”

Nexa’s Role in Maruti’s Success:

Nexa was strategically designed to cater to the aspirations of the Indian population seeking an upgrade without compromising on the brand’s core value proposition. Positioned as a value luxury brand, Nexa has resonated strongly with consumers, contributing significantly to Maruti Suzuki’s overall success.

Futuristic Expansion and Demand:

The popularity of Nexa is evident from the tremendous success of the Invicto, which currently commands a six-month waiting period, showcasing the robust demand for Nexa’s offerings.

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