July launch alert: Check these three new cars set to hit Indian market | Details

Sales of SUVs and multi-purpose vehicles (MPVs) exceeding 4 metres in length now make up at least 10% in volume terms even at compact-car makers such as Maruti Suzuki. The share of sub-4 metre vehicles, which enjoy policy preference from a taxation standpoint to encourage car ownership, has shrunk 6 percentage points in three years to 72%.

South Korean automaker Kia plans to launch three new models, including two electric vehicles in India by 2025. The company, which on Tuesday unveiled the updated version of its flagship SUV Seltos, has set a target of garnering 10% market share in the India passenger vehicles market in the near futu

Here are some the cars from Maruti Szuki expected to launch in 2023 and 2024.

According to industry estimates, Indian carmakers are set to ship more than 675,000 vehicles in the fiscal year that ends March 31, recovering from a low of 404,000 reported in the aftermath of the pandemic in FY21. Around 663,000 cars were exported from the country in the last financial year. Vehicle exports were dominated by Maruti Suzuki and Hyundai, which together accounted for two-thirds of all cars shipped out of the country.

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.

Mahindra Finance, Shriram Finance, Poonawalla Fincorp, Cholamandalam Finance and others expect wider acceptance in the metros for used EVs. Finance penetration in this market has grown from 20% a year back to about 35% currently, according to executives.

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.

According to the ranking released on Wednesday by Cars.com, Tesla’s Model Y SUV, Model 3 sedan, Model X SUV and Model S sedan are ranked in spots one to four

Maruti Suzuki reported an all-time high profit figure, becoming the first passenger vehicle maker in India with an annual turnover of over Rs 1 lakh crore. However, the company's market share in the passenger vehicle segment slipped to 41% in FY23 from 51% in FY20, led by a demand shift to SUVs where it has a weaker presence. Most brokerages have maintained their bullish view on Maruti Suzuki's stock, with target prices going beyond the Rs 10,000 mark. However, Kotak analyst Rishi Vora has said that the company is expected to find it challenging to regain lost market share.

Only one other company model, the Grand Vitara SUV, comes with a panoramic sunroof.