The company doesn’t want to ignore any of the segments that it currently competes in.
Maruti has been at the top of its game in the passenger vehicle segment with a market share of about 50 percent. This has been made possible because of affordability, low-maintenance and a huge service network. Even though India is seeing an increased market demand for SUV-like vehicles, the company won’t be ignoring any other segment.
Maruti will be competing in each and every segment that it possibly can to keep its market share intact while also giving the customers a better experience. More and more customers now look for features in their cars and Maruti is working on that too. It won’t be producing bare bone vehicles anymore and instead will work on fitting the cars with class leading features. A good example is the 2018 Marti Ciaz which gets a slew of new equipment.
The Indian manufacturer also wants more of its cars to be seen on road and wants to sell 20 lakh cars per annum by the year 2020. If this number seems too large then consider this, Maruti sold 16.53 lakh vehicles in the fiscal year 2017 which is a growth of 14.5 percent from the previous year. So, the company seems well on track to achieve this target and is even optimistic about surpassing this mark.
The dealership and service network too is being worked on so as to have more touch points in the smaller cities. These not only include tier-2 but also tier-3 cities. Maruti has said that it is committed to introducing twenty new products by the year 2020 but it has already been confirmed that the Maruti Swift Sport and the Maruti Jimny won’t be among these.
So, which segments exactly do these twenty new vehicles from Maruti fall in, we will know for sure when the time comes.
Maruti Product Strategy
– Maruti will be making products for all the segments that it possibly can
– SUV like vehicles are on the cards but so are hatchbacks and sedans
– Twenty new models set to go on sale in India by 2020
Source – ETAuto.com