Maruti Suzuki has long maintained its position as the largest passenger car company in India. They announced to occupy the ‘top position’ in the sales of cars worth Tk 10 to 20 lakhs in the financial year 2022-23. Currently, the Indo-Japanese company has managed to hold 19 percent market share in the said segment. Again in this segment they have managed to increase their market share to 22% till April-June 2023. Behind which the demand for premium SUVs has been credited.
Maruti Suzuki tops the sale of expensive (10-20 lakh) cars
Shashank Srivastava, Executive Officer (Sales & Marketing), Maruti Suzuki India said, “No matter which segment Maruti Suzuki enters into, they carve out a niche for themselves. Only the product and the buyer change. The company understands Indian consumers very well. So they are ready to create a world of new customers.”
The newly launched premium MPV Maruti Suzuki Invicto has been priced between Rs 25 lakh and Rs 30 lakh. Maruti Suzuki has already crossed 6,800 unit bookings after its launch last week. Meanwhile, the price of the car has increased quite a bit. Where earlier the price of a car was charged on an average of 6 to 7 lakh rupees, now its range is increasing and crossing 9 to 10 lakh rupees. For which the companies attributed the increase in the cost of raw materials, freight, insurance.
Regarding the sale of premium cars, Srivastava said, “Maruti Suzuki cannot sell premium cars, it is only a rumour. Nexa is India’s second largest premium dealership channel. With 3.7 lakh units sold through this retail chain in FY 2022-23, we have seen a growth of over 70 per cent.”