Owing To Maruti Suzuki, India Makes Its Place As Fastest Growing Auto Market Globally

Apr-2018 | 99Strategy | Automobile

Maruti Suzuki, which has its vehicles ratio of 1 out of every 2 cars in the country, has individually included India in its fastest growing auto markets in the world. Maruti's growth has remained in double-digit since the financial year 2013.

The number of cars in the city increased from 20.65 Lakh to 30.4 Lakh units. Meanwhile, the volume of Maruti Suzuki increased from 10.5 Lakh to 14.4 Lakh. However, the volume of other car companies remained steady at 1.6 Million units.

With the strong performance of Maruti, India has made to the world's top 5 passenger vehicle marketplace. If this growth story continues even after the company's new investment in Bihar, then India will definitely make its place in the world's top 3 passenger vehicle market.

Maruti Suzuki Chairman RC Bhargava said in an interview, “Increasing the number of models has helped us. We have been able to reach out to the small towns and cities of the country with a new model. This has increased our sales and new customers are connected with the company.”

He said, “The market share of a car company is more than 50%. Maruti has reached the success through its strategy of the launching of new models continuously in the market. The company has got a big advantage by continuously investing in the sluggish economy of the country. And we want to maintain our growth in the signs of improvement in the economy.”

Maruti Suzuki has 16 cars in the price range of Rs 2.5 Lakh to Rs 14 Lakh. The company offers new cars to customers at a gap of Rs 25,000 to 30,000. Maruti's network has more than 2,000 outlets.

South Korea's Hyundai is at No. 2 position in the Indian car market. However, there has been no difference in the market share of the company in the Indian market.