Maruti Suzuki had a 19% share of the 10–20 lakh rupee car market in 2022–2023. In India. According to some accounts, the company outperformed its competition. According to Autocar India, in the first quarter of FY24 (April–June 2023), demand for the company’s high-end SUVs grew to 22% of the market. According to the news report, the Maruti Suzuki India executive head of sales and marketing, Shashank Srivastava, spoke at the Invicto launch event a week ago. Only the products and clients change, but “Maruti Suzuki can make a name for itself in any market category.” “The company knows a lot about Indian customers and can bring in new ones,” he said. “The firm is also very familiar with other Asian clients.” Variants of the Maruti Suzuki Invicto cost $25,000–$30,000. The SUV manufacturer received 6,800 reservations last week. Many causes have raised Indian car prices. These include growing commodity prices, road charges, insurance payouts, and more intricate equipment. As a result, the national average vehicle price is currently $9–10,000. This was $70,000 three to five years ago but is now $700,000. Srivastava denies that Maruti Suzuki cannot sell luxury cars or SUVs or that upgraders prefer other companies. Both are untrue. He said the company can sell expensive cars. Nexa, our luxury channel, could surpass Arena as the second-largest vehicle retailer. Since FY23, when we sold 3.7 lakh devices, we have grown by over 70% and expect Nexa sales to approach 500,000. Surprisingly, Mahindra & Mahindra leads the fast-increasing SUV business, with Maruti Suzuki only a few hundred cars behind.
