India’s largest passenger vehicle manufacturer Maruti Suzuki might be gearing up for the launch of the all new Maruti Suzuki Swift that will debut in 2018 but certainly has it another eye on the Utility Vehicle (UV) space as the growth dominated by SUVs increases with changing customer preferences of owning a tall, large and rugged SUVs. Moreover, experts believe that the fast growing UV space also has a higher margin of profits and as per an ET Bureau report, Maruti Suzuki will be launching three new UVs including a crossover vehicle, a multi-utility vehicle (MUV) and a full-size SUV in next four years. Currently, the company has four UVs in its existing product line-up with Maruti Suzuki Vitara Brezza, Maruti Suzuki Ertiga, Maruti Suzuki S-Cross and the popular Maruti Suzuki Gypsy and with the launch of three more products the count will reach to seven UVs in its portfolio.
As per the report, Maruti Suzuki is likely to launch a new crossover vehicle based on the existing Maruti Suzuki Ertiga platform internally codenamed as YHB derivative which is likely to go on sale either late in 2018 or early 2019. Another product will be the 7-Seater Wagon R MPV that has already been showcased by Suzuki in Indonesia. Internally codenamed as YJC, Maruti Suzuki Wagon R 7-seater MPV is likely to be a sub-4-meter vehicle and if reports are to be believed then the company had already imported two units of this MPV for testing purposes. The vehicle will be positioned below the Ertiga MPV and will take on the likes of Datsun Go+. The third product will be the a large full-size SUV that might rival Jeep Compass and Hyundai Creta.
In a recent interview to ET R C Bhargava, Chairman, MSIL had said, “The only place where we don’t have a product is a bigger SUV, and that is coming. I am not sure of the exact date, but probably by the end of 2019,”
The new Maruti Suzuki Crossover vehicle and the next upcoming SUV is likely to get Suzuki’s new 1.5L diesel and petrol engine options. With all these UVs coming up, Maruti Suzuki will be able to address a lot of new buyers and will have products ranging from Rs 5-18 lakh price point. Maruti Suzuki’s earlier bet in the premium segment with Grand Vitara and Kizashi had not been as successful as the company would have liked but since then Maruti Suzuki has worked hard on improving the dealership experience by bringing in NEXA channel of dealerships and service centres. Looks like Maruti Suzuki is ready to now take on the premium segment going forward.
We also expect the petrol version of Maruti Suzuki Vitara Brezza coming out next year which will help the company to sustain the higher sales of its SUV. Currently, Maruti Suzuki owns 28.24% market share in the UV space ahead of Mahindra & Mahindra share of 26%.
