Maruti Suzuki India will launch new vehicles in the sports utility and multi utility segment to regain 50 per cent market share by 2015.
Maruti, which is a 54.2 percent owned subsidiary of Japanese carmaker Suzuki Motor Corp, would develop these vehicles with the parent company and target their launch in the upcoming Auto Expo and beyond.
“There is a vast chunk of market, almost 18 percent of the passenger vehicles sold in India where we don’t have any presence. So, as we aim to regain our market share and take it to beyond 50 percent, we will introduce vehicles in the new segment that are not in our current portfolio,” Maruti MD S Nakanishi said.
Maruti sells 15 models in the Indian market and almost a dozen of these are in the compact vehicle segment
It has lost almost 5 percent market share this year due to prolonged workers strike due in Manesar plant, from where most new cars roll out.