JOIN USMini segment sales spur Maruti growth
Maruti Suzuki India (MSI), which heralded a ‘car culture’ of sorts in the country with its legendary small car offerings, continues to gain immense market share thanks to its push in the mini segment.
The car market has somewhat recovered from the aftershocks of demonetisation, during which the mini segment also recovered. According to a report by Motilal Oswal, “The mini segment is recovering (from demonetisation blues), while compact ulitity vehicles are facing heated competition.”
Today, Maruti’s share in the mini segment is at a yearly high of around 74%. Its market share in the passenger vehicle segment stands at around 52%, against 47.4% in FY17, unquestionably solidifying its position as the car market leader.
Seven MSI models were among the top 10 best-selling passenger vehicles in May, according to the latest data from Society of Indian Automobile Manufacturers (SIAM).
Leading Maruti’s drive, the Alto reported volume sales of 23,600 units during May, up 19% year-on-year, recording a nine-month high. premium hatchback Swift was the second best-selling model with 16,532 units, compared with 12,355 units in May, last year. The Wagon R retained the third position, selling 15,471 units in the same month.
Similarly, Maruti Baleno is leading the compact segment. The report informs: “Baleno volumes increased 46% YoY to 14,600 units last month, while the Hyundai Grand i10 and i20 reported volumes of 13,000 units and 10,700 units, respectively. On the other hand, the Celerio reported volumes of 6,100 units in May, which is actually a 17% YoY dip.”
Winning UV race
Maruti has overtaken UV giant Mahindra, on the back of its two sensations — the compact SUV Vitara Brezza and light utility vehicle Ertiga. According to industry figures, Maruti sold 22,608 units in May, compared with Mahindra selling 19,331 units during the same month.