Top SUV models hit new high, cross 1-lakh sales mark in 2023
India's enduring fascination for SUVs continues, fueled by practicality, spacious interiors, and perceived safety. More than half of the 16 passenger vehicle models that surpassed 100,000 unit sales in 2023 were SUVs. The trend is likely to continue with new SUV models proving to be instant hits. Demand for hatchbacks and sedans has fallen sharply, with over half of new car buyers preferring SUVs. Maruti Suzuki aims to increase its SUV market share to 25% this year, launching the Fronx and Jimny models. Key Points
Economic TimesThe year of the SUV: When Indian automakers started riding higher
SUVs have seen a four-fold increase in their share among first-time buyers in the country over the past decade. About a third of first-time car buyers in the Indian market now drive home an SUV compared to less than a tenth a decade ago, when hatchbacks ruled the country's roads, according to industry data. The share of additional and replacement buying in the category during this period has fallen to 69% from a whopping 92% in 2014. Key Points
Economic TimesIndia's craze for SUVs: There's more to it than meets the eye
The fall in sales of small cars and the rise in SUV sales may not be only due to Indians now ditching small cars and preferring to buy SUVs. Due to several factors, carmakers are focusing more on SUVs, making them affordable even if they have to downsize them in different respects, just as small-car segment crumbles under stress. Key Points
Economic TimesSUVs now drive half the sales in India's Motown
SUVs now account for 50% of all passenger vehicle sales in India, doubling their market share in five years. This shift in buyer preference towards larger vehicles has come at the expense of small cars. The popularity of SUVs is due to a wide range of models and their higher road presence, which is seen as a sign of value. SUV sales have grown to comprise 48.3% of total vehicle sales in the first half of this fiscal year, while the share of hatchbacks has slipped to 30%. The share of sedans has also declined. Key Points
Economic TimesSedan demand remains strong despite surge in SUV growth: Mercedes Benz India MD & CEO
Sedans are still holding strong for Mercedes Benz India despite the demand for SUVs soaring in the overall Indian passenger cars market, according to company Managing Director and CEO Santosh Iyer. Although the company expects the share of SUVs to its overall sales will be slightly skewed after the recent launch of its new GLC SUV, he said the demand for its sedans continues to be very strong. Key Points
Economic Times
Maruti Suzuki's SUV sales accelerate
Maruti Suzuki's sales of sport utility vehicles (SUVs) have nearly doubled in the quarter ending June 30, reflecting the strong demand for models like Brezza, Grand Vitara, Fronx, and Jimny. The share of SUVs in Maruti Suzuki's sales increased to 22.4% from 12.6% a year earlier, while the share of small cars dropped from 58.8% to 53.2%. Key Points
Economic TimesSUV mania: Car companies poised for bumper January sales
Maruti Suzuki and Hyundai, the leading carmakers in the country, are set to achieve their best January sales driven by strong consumer demand, particularly for SUVs. Industry estimates suggest that over 375,000 vehicles will be dispatched this month, an increase of more than 8% compared to January 2023. The share of SUVs in the domestic market is expected to grow to 52-53% this year. The preference for SUVs has led to an increase in the average selling price of passenger vehicles in India. Maruti Suzuki and Hyundai are confident about the continued demand for the rest of the quarter. Key Points
Economic TimesIndian Railways cuts SUV mass transport rates by 33%
According to officials aware of the matter, the new rates for transporting SUVs is 33% lower than the existing charges for moving large passenger vehicles. There was a demand from automobile transporters to rationalise rates since demand for large cars has risen in the Indian market, a top railways official told ET. SUVs have become the rage with the share of such vehicles rising to 49% in the domestic passenger vehicle market in calendar year 2023. In comparison, the share of small cars, once the dominant category, fell to about 30% in the same period. Key Points
Economic TimesMonsters of the road: what should the UK do about SUVs?
They have higher emissions, hog roadspace and are more dangerous for other road users. Yet SUVs are selling better than ever. As calls for curbs increase, some people are taking matters into their own hands Key Points
the GuardianPopular models help Tata Motors retain lead in SUV space
While sales of sports utility vehicles at Tata Motors rose 58% to 357,249 units, Mahindra & Mahindra (M&M) was second in tow selling 354,712 units in the segment during the year, as per industry estimates. Including MPV Marazzo, Mahinda posted a growth of 60% to sell 356,961 utility vehicles in the year under consideration. Key Points
Economic Times
Maruti steps up heat on SUV rivals
Maruti Suzuki doubled its share in the category to 17.4% last month, up from 8.8% in February 2022. Rivals Tata Motors, Mahindra & Mahindra did manage to grow volumes in the segment in the period under review but saw a decline of 2.3% and 0.7% in market share, respectively. Key Points
Economic TimesSUVs inch ahead of hatchbacks in sub-4 metre category
The market share of premium hatchbacks on an overall basis declined to 17.3% from 19.6% in FY22. In FY21, their market share was at 24%. Key Points
FinancialexpressICOTY Hyundai Exter had a trend in its favour—India’s love for SUVs not ending
Why buy a hatchback like the i10 Nios when you have an Exter that makes you ‘feel’ safer. Although we are still awaiting BNCAP tests for both vehicles. Key Points
ThePrintMotown spreads Christmas cheer with best deals in 5 years
Several dealers and industry executives ET spoke to said discounts on vehicles have increased by 25-50% over the same period last year, with stocks in the channel burgeoning to 700,000 units after Diwali. Carmakers have not yet planned any production cut to balance inventory but annual maintenance shutdowns at companies like Maruti Suzuki later this month are expected to help pare dealer stocks, industry watchers said. Key Points
Economic TimesSUV launches jam sales highway as sedans and hatchbacks take a backseat
The number of SUV launches hit a new high this calendar year at 108, reaching the three-figure mark for the first time. In the overall passenger vehicle segment, though, there have been fewer launches in 2023 than in the pre-pandemic 2019 with hatchbacks and sedans taking a hit, data collated by automotive market research firm Jato Dynamics shows. Key Points
Economic Times
Maruti to hike prices in January across models; sedan inventory continues to be high: Shashank Srivastava
“I would expect December 1 stock levels to be the same as November 1. November 1 was a little more confident because we had 15 days of auspicious period. So it really requires that the inventory levels should come down from here and that means that the wholesale numbers for December should be low in the industry.” Key Points
Economic TimesMaruti aims for half a million in SUV sales
Maruti Suzuki, India's largest carmaker, aims to sell nearly 500,000 vehicles in FY2023-24 to become the top-selling brand in the Indian sports utility vehicle (SUV) segment. The company plans to double its volumes from the previous year and gain market share in the SUV segment, which currently makes up 40% of passenger vehicle sales in India. Maruti Suzuki already has 194,000 pending orders for its SUV range, including the Brezza. The automaker aims to increase its existing 17.5% market share in the segment to 25% by introducing new products, including compact SUVs Fronx and Jimny. Key Points
Economic Times