The gain of Maruti Suzuki India in the Utility Vehicles segment has cost the M&M to a loss. Vitara Brezza launch has caused the result.
The Indian oldest Automobile player has played its trick to grab the market share with the introduction of its new model Vitara Brezza on Indian roads. Maruti has reached a mark of 26% while the Mahindra & Mahindra Motors has dropped to a low level of 35%. In the past, M&M has the share hold of 41% in the UV market. Earlier Maruti has the hold of just 15% share. Hyundai has a share of 11%.
In just a matter of two months of the launch of Maruti Brezza, it has recorded the company’s highest growth in the domestic utility vehicles market. The Vitara Brezza bookings and sales also boosted which made the buyers wait for long regarding the delivery. It has the figures of 50,000 bookings until the end of April month.
The year 2015-16 has witnessed the launch of Hyundai Creta, M&M TUV300, M&M KUV100, M&M NuvoSport and Maruti Vitara Brezza. The year 2016-17 may witness more competition as Honda BR-V has launched and Maruti Ignis and Hyundai Tucson are ready for the launch.
In a significant achievement, Maruti has attracted the attention of upgrade buyers with its new launches such as Ciaz, Baleno, S-Cross and Vitara Brezza. The Net increase per unit for Maruti went up by 8.1% which figures to 4.24 lakhs for the period January to March.