Maruti Suzuki, despite having a limited SUV lineup, has emerged as a leader in the segment during the current financial year. The automaker now aims to strategically fill crucial gaps in its portfolio, bolstering its position in the utility vehicle market. Currently holding over a 20 percent share in the market, Maruti Suzuki plans to introduce a compact SUV as an enticing alternative for entry-level hatchback buyers. Simultaneously, the company is gearing up for the launch of a larger three-row SUV within the next two to three years, intensifying its presence and market share in the rapidly growing SUV segment. Taazinews 24 has extended its presence to WhatsApp. Tap here to join and receive the latest updates on Automobile News.

Key Points:

Maruti Y43 SUV Positioned Below Brezza: The upcoming Y43 SUV will find its place below the Brezza model, catering to the needs of the compact SUV market.
Launch Timeline: Both the Y17 three-row SUV and the Y43 entry-level SUV are slated for launch between 2025 and 2027, marking Maruti Suzuki’s strategic expansion in the SUV segment.
Maruti eVX SUV: In addition to the conventional SUVs, Maruti Suzuki is set to debut its first electric SUV, the eVX, in late 2024.

According to industry insiders, the Y17 three-row SUV, based on the Grand Vitara, will feature a robust hybrid powertrain and is expected to hit the roads in 2025, positioned in the price range of Rs 15 lakh to 25 lakh. The Y43 entry-level SUV is scheduled for a 2026-27 release.

Hisashi Takeuchi, MD and CEO of Maruti Suzuki India, acknowledged the existing gaps in the SUV portfolio and expressed the company’s commitment to filling them. He emphasized the growing significance of SUVs in the market and outlined plans to offer models both at the lower and upper ends of the spectrum.

While Maruti Suzuki has previously relied on SUV-styled hatchbacks, the new strategy involves introducing dedicated SUVs to compete with popular models like the Hyundai Exter and Tata Punch compact SUVs.

Sales Projections:

Both planned SUVs are anticipated to contribute an additional 2,50,000 units per annum if production volumes align with market demand. Maruti Suzuki’s SUV market share has already doubled to over 20 percent in the current fiscal year, driven by the success of models like the Fronx, Jimny, and Grand Vitara.

Market Dynamics:

The SUV segment accounted for 48 percent of overall passenger vehicle sales in 2023, with over 2 million units delivered. The SUV market demonstrated remarkable growth of over 25 percent, outpacing the decline in hatchbacks and sedans. Maruti Suzuki’s ambitious target of achieving a 50 percent market share by 2025 will hinge significantly on the success of its SUV lineup.

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