As Maruti showcases two SUVs, CEO says didn’t forsee growth, correcting course

Maruti Suzuki showcased two SUVs at the auto expo on Thursday — the much-awaited Jimny and an urban SUV coupe called Fronx, a souped-up version of the premium hatchback Baleno.

Maruti Suzuki, Sports Utility Vehicles, maruti suvs, maruti SUV launch plans, Business news, Indian express, Current Affairs

Apart from SUVs, Maruti had also showcased a concept version of an electric vehicle. The company has announced that it will launch electric vehicles by 2025 and not rush into the EV space as India’s transition towards clean fuel cannot only be dependent on such vehicles.

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Admitting that Maruti Suzuki did not anticipate the growth in demand for sports utility vehicles (SUVs) in India, the country’s largest carmaker Thursday said that it has advanced its SUV launch plans and expect to regain its market share in the utility vehicle segment.

“…We also had forecast that the SUV market would increase in India as well as other parts of the world, but the speed of growth in the SUV space, we underestimated. Hence, our product launch was not in time with the growth of the SUV space in India. Now, we are correcting our plans and advancing some SUV launches. With these new launches, we expect to regain the market share in the SUV space,” said, Hisashi Takeuchi, MD & CEO of Maruti Suzuki.

Maruti Suzuki showcased two SUVs at the auto expo on Thursday — the much-awaited Jimny and an urban SUV coupe called Fronx, a souped-up version of the premium hatchback Baleno. With these launches, alongside the newly refreshed Brezza and the Grand Vitara, Takeuchi said that he expects Maruti to regain lost market share in the SUV space.

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Takeuchi also added that the company’s EV launch plan is intact, as EV sales in India are still at a nascent stage, with low numbers. Maruti’s launches in the EV space will be with products best suited for India.

Maruti’s competitor, Tata Motors, however, has launched EVs in all segments including a small car, Tiago EV.

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