After introducing Fronx and Jimny at the January 2023 Auto Expo, wholesale deliveries of the former began in April 2023, followed by the latter in June.
By July, Maruti had risen to the top of the Indian SUV industry, accounting for 25 percent of the market.
The country’s top carmakermaintained its lead in August, with a 24 percent share. However, beginning in September, Maruti’s SUV model portfolio wholesale began to decline for the 2023 Christmas season, primarily in Jimny and Fronx sales.
Following this, Maruti lost its top position in the Indian SUV market in just two months. By November, Maruti dropped to fourth place in the SUV standings, below Mahindra, Tata, and Hyundai. Other than the Brezza AT, every model saw a discount in December 2023.
With a broader SUV model selection and more production capacity, Mahindra reclaimed the top rank from Maruti in September, just as the festive season began.
Maruti Had a Good Start in 2023
Earlier in 2023, Maruti Suzuki started with an aim to double its SUV sales in the Financial Year – 2024 and to take the leadership position in the SUV segment with a market share of over 25 percent. The automaker company planned to sell over 5 lakh units of sports utility vehicles in FY-24.
The company was successful in achieving the feat of becoming a successful SUV maker. According to the figures from the Society of Indian Automobile Manufacturers (SIAM), Maruti produced 33,350 sub-4 metre SUVs in October 2023, which is a significant rise from 9,915 in October 2022. In this segment, the company offers vehicles like Fronx, Brezza, Grand Vitara, and Jimny models.
Gradual Decline of Maruti’s SUV Segment
Even though Maruti Suzuki reported a year-on-year growth of 24 percent in domestic SUV sales, Mahindra & Mahindra experienced a higher growth rate of 39 percent from them.Mahindra, known for its SUVs like the Thar, Scorpio and XUV, had several months of record sales in 2023, with a monthly sales growth ranging from 20 percent to 57 percent.
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