MSI hints at ‘some action’ in mid-SUV segment to boost market share

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New Delhi, Jun 06 (PTI): The country’s largest carmaker Maruti Suzuki India (MSI) is looking at “some action” in the mid-SUV segment for strengthening its market share in the vertical, in order to sustain the firm’s current 50 per cent levels in the overall domestic PV sales going ahead, according to a senior company official.
Currently, the mid-SUV segment is dominated by the likes of Hyundai Creta and Kia Seltos in the country. MSI is there in the segment with S-Cross but the model has so far failed to draw in big volumes for the auto major. “In the mid-SUV, our market share is actually quite low, even though Vitara Brezza is leading in the entry-SUV segment. In the mid-SUV, we have the S-Cross, which we recently launched with a new engine in August. “And, I think it has given us suboptimal numbers so far, which we intend to increase in the coming years,” MSI Executive Director (Marketing and Sales) Shashank Srivastava said in an analyst call.
He noted that the company is looking at the space carefully.
“So, yes, we will have a product plan but I am really constrained. I really can’t speak about the future product plan in that segment. “But yes, we are cognisant of the fact and we are looking at this segment very, very carefully. And, definitely, we will see some action there,” Srivastava said.
He acknowledged that the company’s overall market share in the multiple purpose vehicles (MPV) segment is getting pulled down due to “suboptimal” performance in the fast-growing SUV segment.
“When you look at the overall picture with the SUV (segment), and that is where I think the issue is, our market share is just 13.2 per cent. Although, we are the market leader by far, as far as the entry SUV (segment) is concerned,” Srivastava noted.
He added that in the mid-SUV, the S-Cross’s performance has been suboptimal. “That is where our market share gets pulled down in the overall MPV segment.”
He said that for the company to maintain a market share of around 50 per cent in the domestic passenger vehicle segment, it is important to have a large footprint in the growing SUV segment.