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Maruti Suzuki India (MSIL) has beaten its own record in garnering market share in the passenger car segment during 2017-18. The company sold more than 12.34 lakh passenger cars in the last financial year, securing 57 per cent market share, up from 52 per cent in the previous year, when it sold 10.96 lakh units.
“This is primarily because of listening to our customers’ voices and putting them at the centre of our products and services. Customers’ aspirations are evolving every day, and we need to bring about disruptions to gain their support,” RS Kalsi, Senior Executive Director (Marketing and Sales), told BusinessLine .
Sharing the success story, Kalsi said that in recent times, the company launched Nexa sales outlets, Arena showrooms, revamped the True Value network and Nexa Service, which cater to customers from different strata, and which helped in the growth momentum.
“At the same time, our new cars such as the Ciaz, Baleno, Dzire, and Swift have captured the imagination of young Indians,” he added.
Growing steadily
According to recent data from the Society of Indian Automobile Manufacturers (SIAM), the passenger car segment grew at a compounded annual rate of 3 per cent over the past five years.
During fiscal year 2017-18, the industry sold 21.74 lakh units of passenger cars in the domestic market, against 21.04 lakh units during 2016-17.
Maruti has a huge lead over the the second-highest seller, Hyundai Motor India, which has a market share of around 20 per cent. Hyundai sold more than 4.27 lakh units against 4.11 lakh units in 2016-17.
The third-highest seller, Tata Motors, had a market share of 6.23 per cent during the year. The home-grown company recently dethroned Japanese subsidiary Honda Car India, from the third place in the passenger car category.
According to analysts, the passenger car segment saw a giant leap during 2017-18 because of the new compact segment launches towards the year-end.
“During the period, the passenger cars continued to witness a shift in sub-segment distribution, with compact segment further increasing its share to 64 per cent (up 4 per cent year-on-year), helped by multiple model launches sporting higher safety content,” Rakesh Batra, Partner and Automotive Sector Leader at EY India, said.
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