Maruti Suzuki has achieved a significant milestone by emerging as the top SUV manufacturer in India for August, surpassing Mahindra & Mahindra (M&M). Shashank Srivastava, Maruti Suzuki’s Executive Director, shared this news with CNBC-TV18, emphasising the company’s impressive 16.5 percent year-on-year growth rate, which outpaced the industry.
Srivastava also expressed confidence in crossing 1 million sales during the upcoming festive season, with four new SUV models boosting the company’s market share. He highlighted a 25 percent retail growth in Kerala during the Onam season, showcasing Maruti Suzuki’s growing popularity.
In a notable industry trend, the small car segment’s dominance has waned, now comprising only 30 percent of the market, down from 35 percent the previous year. Conversely, SUVs have surged to 49 percent market share, up from 29 percent a few years ago, signalling changing consumer preferences.
Maruti Suzuki’s success underscores its commitment to innovation and customer-centric strategies, mirroring the evolving dynamics of the Indian auto industry. As SUVs gain favour, Maruti Suzuki’s strong performance in August positions it as a market leader poised for continued success.
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