Maruti Suzuki India has once again solidified its dominance in the Indian automotive market, with the Maruti Suzuki WagonR emerging as the best-selling model for the company from April to December 2024, recording 1,90,855 units sold. Despite the rising popularity of SUVs in India—accounting for 54.7% of total passenger vehicle volumes till November 2024—Maruti Suzuki’s robust performance in the hatchback, MPV, and SUV segments reflects its ability to cater to diverse consumer preferences.
Hatchbacks: Still the Bread and Butter
While SUVs are driving much of the Indian automotive market, hatchbacks remain crucial for Maruti Suzuki. Notably, three out of the company’s top five best-sellers for the period were hatchbacks:
- WagonR: 1,90,855 units sold
- Swift: 1,72,808 units sold
- Baleno: 1,72,094 units sold
In December 2024, the top-selling vehicles were also hatchbacks, with the Swift leading at 29,765 units, followed by the WagonR (29,566 units) and the Baleno (26,789 units).
Despite a slight downturn in wholesale numbers for hatchbacks during this period, retail sales increased by 4%, indicating strong consumer demand. Partho Banerjee, Senior Executive – Marketing, Maruti Suzuki India, emphasized that the affordability factor remains a challenge for entry-level hatchbacks but expressed confidence that the market will eventually catch up.
MPVs: A Strong Growth Segment
The MPV segment saw exceptional growth for Maruti Suzuki, registering a 36.5% year-on-year increase between April and December 2024. Leading the charge was the Maruti Suzuki Ertiga, which sold 1,90,000 units, making it the second best-seller for the company in 2024.
Banerjee highlighted the sustained popularity of MPVs as a critical growth driver for the company, attributing the success to Maruti Suzuki’s ability to address the needs of family-oriented buyers seeking practicality and comfort.
SUVs: Riding the Wave
Maruti Suzuki’s SUV portfolio also experienced a 21% growth during the same period, driven by strong performances from the Brezza, Fronx, and Grand Vitara.
- Maruti Suzuki Jimny: Sold 1,500 units in December 2024.
While the Jimny’s sales lag behind competitors like the Mahindra Thar, Banerjee defended the numbers, emphasizing the Jimny’s position as a lifestyle product that requires time to establish its niche in the market. He also dismissed speculation of price cuts, reaffirming the brand’s strategy for the model.
Sedans: A Resurgence in Demand
Contrary to the industry trend of declining sedan sales, Maruti Suzuki posted a 4% growth in the segment between April and December 2024, with the Dzire emerging as a standout performer.
- Maruti Suzuki Dzire: Sold nearly 1.68 lakh units during the period.
The launch of the third-generation Dzire in December 2024 has further fueled demand, with over 20,000 units on order and 10,709 units already delivered. Nearly 37% of customers opted for the top-end ZXi and ZXi+ trims, and 17% chose the automatic transmission, marking a shift in consumer preferences toward premium variants.
Maruti Suzuki’s Winning Strategy
Maruti Suzuki’s ability to navigate changing market dynamics and deliver consistent results across segments underscores its leadership in India’s automotive industry. The company’s focus on:
- Retaining its dominance in hatchbacks,
- Capitalizing on the growing MPV and SUV markets, and
- Revitalizing the sedan segment with innovative offerings,
has allowed it to adapt to evolving consumer demands while maintaining a stronghold on traditional categories.