Maruti Suzuki has started to claw back market share in the passenger car segment on the back of its strategy of focusing on first time buyers and rural markets.
The carmaker, which has seen its 50%+ market dominance eroded in recent years, took 42% share in the first quarter of the current fiscal year (April-June), selling 241,812 passenger cars and utility vehicles of an industry total of 573,038, according to latest SIAM data.
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During the same period a year ago, Maruti Suzuki sold 222,645 vehicles, a share of almost 40%. Last month the company’s market share rose to 45% with 91,226 sales.
Chief operating officer for marketing and sales, Mayank Pareek, said: “Some of the strategies such as focus on first time buyers, on exchange, on urban markets, on rural opportunities have started giving us results.”
He added that the company closed the first quarter with over 10% growth despite a typically slow sales period. “An interesting part of the June 2014 sales is that our retail sales are greater than wholesale in the month
“First time buyers who were holding back sales are now showing signs of revival. It is clearly evident in growth of over 52% (in June) in the mini segment comprising of entry level Alto and Wagon R,” he added.
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By GlobalDataThe company sold 47,618 mini segment cars, the Alto and Wagon R, in June, up 52% over the same month last year.
