In a bid to regain its lost market share, Maruti Suzuki, the country's largest carmaker, plans to regain lost market share by September 2023, which has currently been reduced to 43.5% through an offensive product strategy centered on SUVs. This would address major portfolio gaps.
Starting this March 2022, Maruti Suzuki expects to launch four all-new SUVs across key categories, three of which are still unexploited and which include the Lifestyle category (Jimny), a midsize SUV and a 3-row premium SUV by March 2023, according to DAM Securities report.
While many existing models will see updates, some new SUVs will be jointly developed by Toyota, its global alliance partner. These details were announced at a recent dealer conference.
Maruti Suzuki will continue to focus on alternative fuels (CNG), introducing another 3-4 major models within CNG, driving superior cost economy (and therefore strong cost-economics) and lower emissions, according to DAM Securities report.
It also seeks to offer a powerful hybrid with much lower emissions and to work on a large scale in EVs, which it plans to launch before 2025.
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