Maruti Suzuki is working on a plan that could help the automobile maker recover its lost market share.

The company has set a medium-term goal to reach a 50 per cent share in the domestic passenger vehicle segment.

Shashank Srivastava, senior executive director, marketing and sales, Maruti Suzuki India Limited, told The Telegraph that the SUV segment within passenger vehicles has grown significantly over the past few years to reach around 40 per cent of the market. This category was around 20 per cent, 3-4 years back.

“One of the things that we found as a weakness for us and a reason for market share decrease is because the SUV segment has become bigger and our SUV segment share is very low,” Srivastava said.

He was in the city to attend the annual general meeting of the Bengal Chamber of Commerce and Industry.

“We do not have enough products and that is clearly one of the reasons why we could not gain a good market share in the SUV space,” he said.

The car maker now plans to beef up its SUV portfolio with two more cars expected this financial year.