Maruti Suzuki beats M&M to lead SUV league in August

Maruti Suzuki recorded 16.5% YoY growth in August, which is faster than the industry numbers, according to Srivastava

Moneycontrol News

September 04, 2023 / 10:26 IST

Shashank Srivastava Executive Director at Maruti Suzuki

Auto major Maruti Suzuki overtook rival Mahindra & Mahindra this August, becoming the top manufacturer of sports utility vehicles (SUVs) in India, Shashank Srivastava, Executive Director at Maruti Suzuki, told CNBC-TV18 on September 4.

Srivastava also told CNBC-TV18 that the automaker recorded 16.5 percent year-on-year (YoY) growth last month, which is faster than the industry.

“We will cross 1 million sales this festive season. Festive season generally sees 26 percent of overall annual sales. Introduction of four new SUVs has resulted in higher market share for Maruti,” noted Srivastava. “We saw retail growth of 25 percent in Kerala during Onam season this year,” he also noted.

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The executive director also stated that the small car segment has reduced to 30 percent of the total auto industry, from 35 percent last year, while the SUV segment is growing well. “SUVs now form 49 percent of the overall market compared to just 29 percent a few years ago,” he said.