Maruti Suzuki India Limited (MSIL), the largest car maker in India, is striving to increase its market share in the sports utility vehicle (SUV) segment to 24% by fiscal year 2024. This goal will be achieved with the introduction of two new SUVs – the Fronx and the Jimny – this year, back-to-back. According to Shashank Srivastava, the senior executive officer of marketing and sales at MSIL, the company’s market share in the SUV category rose from 10.6% to 17.5% in the last quarter, and it intends to maintain this momentum with the launch of new models.

The company’s SUV portfolio included the Brezza, the Grand Vitara, the XL6, and the S-Cross last year, with the Grand Vitara having been launched in September 2022. Srivastava revealed that the company’s overall market share could increase to 50% from the current 43% if it can capture a 25% share of the SUV segment. He also stated that the company already has a 65% market share in the non-SUV category, indicating its dominance in this segment.

The Fronx, which will be launched in the coming weeks, is a sub-4 metre SUV based on the Baleno platform and will be sold from the Nexa outlet. It will be available with two engines, a 1-litre turbocharged engine and a 1.2-litre naturally aspirated gasoline engine with mild hybrid motors. The Fronx will provide MSIL with a chance to expand its presence in the sub-compact SUV category, which has seen significant growth in recent years. However, it also discontinued the production of the Alto 800 following the regulatory norms of BS-VI Phase 2 coming into play. The mini compact segment of the auto industry was already shrinking with falling demand. Renault Kwid 800 has also been discontinued because of the same reason. The entry-level engine in the passenger vehicle space is now the one-litre engine.

MSIL is optimistic about the potential for growth in the SUV segment, and its expansion plans in this category will be critical to achieving its ambitious goal of 24% market share by fiscal year 2024. With the launch of the Fronx and the Jimny, the company is well-positioned to compete with other major players in the SUV market and potentially capture a significant share of the lucrative sub-compact SUV segment.