Maruti Suzuki puts SUV focus on the fast track for growth

Mumbai: Maruti Suzuki has set its sights on becoming India's largest SUV maker, betting on an expanding utility vehicle portfolio and a broader brand repositioning to steer ahead of Tata Motors and Mahindra & Mahindra in the country's fastest-growing passenger vehicle segment.

The country's largest carmaker, whose share in the SUV market has risen to over 20% from about 12% in FY23, said its factories are running at over 100% utilisation due to strong demand for SUVs that now account for well over half of India's passenger vehicle sales.

Also read: Maruti Suzuki India targets 25-30 pc sales growth of SUVs this fiscal: Company official

"We have done a good amount of climbing, but it is still not good enough. We will climb further and achieve pole position in the SUV segment in time to come," Partho Banerjee, senior executive officer, marketing & sales, at Maruti Suzuki India, told ET ahead of the launch of the Brezza face-lift in Mumbai on Friday.

The company is backing an expanded SUV portfolio-including the recently launched e Vitara, the refreshed Brezza and the Grand Vitara-to sustain the momentum, while internally targeting healthy double-digit growth in the segment this fiscal.

Banerjee said Maruti is also looking to evolve its brand positioning beyond its long-standing image as a maker of fuel-efficient, value-for-money cars to reflect changing customer preferences. "Mileage and value for money remain our foundation, but today's customer is driven by aspirations and experiences. We need to cater to the mindset rather than just demographics," he said. "Maruti as a company is changing its DNA."

The shift comes as buyers increasingly prioritise driving experience, technology and design alongside fuel efficiency. Banerjee said Maruti's strategy is to address a wider spectrum of customer preferences through a broader product and powertrain portfolio rather than relying solely on its traditional strengths.

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Demand, however, is no longer the challenge. Banerjee said Maruti's factories are operating at over 100% utilisation, with additional working days, including Sundays, being scheduled to maximise output. "The growth today is dependent on production capacity. It's no longer demand," he said, adding that the company expects supplies to improve in the coming months as availability of key SUV models increases.

Maruti is also expanding its multi-powertrain strategy across petrol, CNG, hybrid and electric vehicles, arguing that India's diverse customer base will continue to require multiple technology options instead of a single dominant solution.