Maruti Suzuki India Limited (MSIL) is looking to increase its market share in SUVs to 24 per cent in FY 2024 with the back-to-back launch of two SUVs, the Fronx and the Jimny, this year.

“We had a 10.6 per cent market share last year. In FY2023, it grew to 12.6 per cent and in the last quarter it grew to 17.5 per cent,” said Shashank Srivastava, senior executive officer, marketing and sales, MSIL at the media drive event for Fronx on Monday.

The company had the new Brezza and the Grand Vitara as well as the XL6 and the S-Cross in its SUV portfolio last year.

“We will have two new products in the space this year. Plus we will have a full-year sale of the Grand Vitara which we launched in September last year,” said Srivastava. With the growth in SUV space, the largest car maker also plans to increase its total market share to 50 per cent from the current 43 per cent.

“We already have a 65 per cent market share in the nonSUV space. If we can get a 25 per cent market share in the SUV space, our overall market share can touch 50 per cent,” said Srivastava.

The Fronx, which the company plans to launch in the coming weeks, will be based on the Baleno platform and will sell from the Nexa outlet. It is a sub-4 metre SUV that will have a 1 litre turbo boosted engine and a 1.2 litre naturally aspirated gasoline engine with mild hybrid motors.

Alto 800

The company has stopped production of the Alto 800 following the regulatory norms of BS-VI Phase 2 coming into play. The mini compact segment of the auto industry was already shrinking with falling demand. Renault Kwid 800 has also been discontinued because of the same reason. The entry-level engine in the passenger vehicle space is now the one-litre engine.