Maruti Suzuki is an Indian multinational automotive company. It was founded in India in 1983 as a joint venture between the Japanese company Suzuki Motor Corporation and Maruti Udyog Ltd. The headquarters of this company is situated in New Delhi, India. Maruti Suzuki is one of the largest car manufacturers in India and sells its cars through a network of showrooms and service centers across the country. In 2017, Maruti Suzuki’s market share was about 36%. The company sold over 2 million vehicles that year.
The company has been in the market for over four decades and has a strong presence in passenger and commercial vehicles. Maruti Suzuki’s revenue is primarily generated from its passenger car sales, which account for more than 80% of its total revenues. Maruti Suzuki also derives a significant portion of its exports, accounting for around 20% of the total revenues.
The company faces stiff competition from international automotive manufacturers such as Toyota, Ford, Honda, and Nissan. In 2022, Maruti Suzuki expects to sell nearly 2 million units annually with a profit margin of 8%.
Maruti Suzuki Automobile Market Share in India
Being the largest automobile manufacturer in India, Maruti Suzuki has a market share of over 38.24%. The company has a wide range of vehicles, from entry-level hatchbacks to luxury SUVs, and is a trusted name in the Indian automotive industry.
Maruti Suzuki’s market share in India can be attributed to several factors, including its strong dealer network, efficient after-sales service, and competitive pricing. The company also offers a range of finance and insurance schemes that make owning a Maruti Suzuki car more affordable.
With a vast product portfolio and a broad reach, Maruti Suzuki is well-positioned to maintain its leadership position in the Indian automotive market. It is one of the biggest reasons for Maruti Suzuki to dominate the automobile market share in India, despite using outdated technology and design.
How does Maruti Suzuki Still Dominates Indian Automobile Market Share?
The Indian automobile market share is expected to grow from 3.7% in 2017 to 5% in 2022. Taking advantage of this factor, even after facing some drawbacks of using backdated technology, here is how Maruti Suzuki still dominates the Indian automobile industry.
- Firstly, Maruti Suzuki has a wide range of vehicles to choose from. There is a Maruti Suzuki car for every budget and need.
- Secondly, the company has an extensive network of dealerships and service centres across the country. This makes it easier for customers to buy and maintain their cars.
- Thirdly, Maruti Suzuki cars are known for their fuel efficiency. This is a crucial selling point for customers in India, where petrol and diesel prices are constantly on the rise.
- Lastly, Maruti Suzuki cars are highly This is one of the most important factors for customers when buying a car.
For the above reasons, Maruti Suzuki still holds the most market share in India despite its backdate technology and features in cars.