After eight years since its inception, Maruti Suzuki’s premium car retail business, Nexa, has achieved a remarkable milestone by surpassing 50,000 monthly sales in July 2023. This achievement has propelled Nexa to become the second best-selling car brand in India, trailing only behind Maruti Suzuki Arena and surpassing Hyundai India. In total, Maruti Suzuki recorded sales of 52,450 Nexa cars in July, while Hyundai India managed approximately 50,701 car sales during the same period. The surge in Nexa car sales can be attributed to the introduction of new models like the Fronx, Jimny, and Invicto.

Expressing satisfaction with these numbers, Shashank Srivastav shared with the media that Maruti Suzuki’s overall passenger vehicle (PV) market share has now reached around 43%, a notable increase from last year’s 41.8%. In July 2023, Maruti Suzuki outpaced Mahindra by selling 42,600 SUVs, compared to Mahindra’s approximately 32,400 SUV sales. As early as April 2023, shortly after Nexa launched the FRONX SUV, Srivastava had conveyed the company’s ambition to secure a 50% PV market share in the domestic market by 2024. Regarding SUVs, he had also expressed the goal of becoming the leading SUV seller with a market share of 25%.

Since the introduction of the Fronx, Jimny, Invicto, and improved production availability of the Grand Vitara in April 2023, Maruti Suzuki has achieved its SUV target in an impressively short timeframe. Srivastava highlighted that Maruti Suzuki’s potential to lead the market with a 25% SUV market share is feasible due to the segmented nature of the SUV segment.

Among the two new Nexa SUVs and the Invicto MPV, the entry-level Fronx SUV has garnered the highest demand and sales. Srivastava pointed out that while the Baleno is a premium hatchback, the Fronx is an entry-level SUV, attracting distinct groups of buyers. Notably, the Fronx has enticed customers away from the Hyundai Venue and Kia Sonet. Srivastava also revealed that while Maruti Suzuki used to receive approximately 830 daily bookings for the Baleno, that number has now slightly decreased to around 670. Conversely, the Fronx is attracting 580 bookings per day, indicating an overall increase in demand and an expanding customer base for the brand.

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