The most eminent manufacturer of affordable cars in the country, Maruti Suzuki is a brand that’s held its dominion over the Indian roads for decades. Apart from attaining great financial success,the brand has alsobecome synonymous with the word “fuel efficient” – a term thatstrikes home with all countrymen.
MarutiSuzuki began its success streak three decades ago when itseizedthe market from its then competitors, Fiat Padmini and Ambassador. Although Maruti’s journey to the top was a gradual one, with quite a few failed experiments(like the Kizashi), it eventually managed to dominate each segment in the automotive scene.From the old-school hatchback,Maruti 800 to modern MUVs like Ertiga, the brand has doled out several different models to caterto the diverse needs of Indian car owners.
Several analysts believe that Maruti’s extensive range of car models are themajor reason for its market stronghold. While other brands may have direct competitors against Maruti in different segments, they lack the diversification the brand has in terms of car models. Both new and old Maruti cars remain hot sellers, despite the changing market conditions.
Furthermore, many experts consider Maruti’smarket performance to be a barometer for assessing the wellbeing of the auto tech business. The reason Maruti Suzuki is considered a virtual benchmark is becauseit shows solid performance crosswise over segments for the passenger vehicle segment that has generally been divided over the value-premium continuum.
Maruti’simpressive numbers crosswise over segments have helped it gain tremendous leverage over the market. The extent of its effect is such that the growth of the business has been consistentsincethe pasttwo years.
In the fiscal year 2017, Maruti’s hatchbacks outmatched its competitors by a significant margin. Thesuccess was a powerful reminder that the brand’smajorstronghold in the market, i.e., hatchback sales, was still unfazed. In the mini car segment, Alto offered 2.4 lakh units every year, which was more than twice of Renault Kwid’s1.09 lakh units. In the high-end hatchbacks, Swift, with sales of 1.66 lakh vehicles, was ahead of Hyundai Grand by around 20,000 units.
The year concludingin March 2017was a booming period of Maruti. The brand became the market leader in all vehicle categories, be it SUVs, sedans, crossovers, hatchbacks, or vans.
During the year’s April-June quarter, Maruti’s volumes in the UV segment ascended by 45% year-on-year to 57,125 units. It managed to surpass the biggest producer of UVs, Mahindra and Mahindra (M & M), which saw a decrease in the UV Segment by 5% to 53,082 units. In this eventful period, Maruti’s share in the segment had risen to 30% while competitor M & M’s share was 27.9%.
Maruti Suzuki’s inspiring success story teaches all entrepreneurs the importance of determination, inventiveness, and the ability to adapt to fluctuating market demands. We can strive to imbibe these qualities andstick to the vision we’ve conceived for our brand.