Maruti Suzuki India (MSI), the largest carmaker in the country, is looking to bolster its presence in the mid-SUV segment.
Currently the Hyundai Creta is in the pole position in the segment followed by the Kia Seltos.
The MSI lineup includes the S-Cross which has failed to make much of a dent to its rivals.
MSI Executive Director (Marketing and Sales) Shashank Srivastava lamented that they have only 13.2% of market share in the SUV segment which is consequently undermining its performance in the multiple purpose vehicles (MPV) segment.
Srivastava hinted at his firm’s future plans to once again attempt to break into the midsize SUV market.
Meanwhile, it will focus on increasing the numbers of its present lineup in the coming years.
Future Plans- A New Product?
In an analyst call, he shared that MSI is observing the space carefully and will accordingly prepare a product plan, details about which he cannot yet divulge.
He reportedly said that “definitely, we will see some action there” which has fueled speculations about MSI’s next move.
The firm has increased its share in rural regions to 41%, a rise from 38.5% last year.
It is optimistic about its rural-based clientele as their kharif sowing and rabi crop is flourishing and a normal monsoon cycle is expected this year.
MSI Chief Financial Officer Ajay Seth commented that consumer profiles have changed as there is a surge in demand for personal mobility by first-time buyers.