Top SUV models
Over 16 passenger vehicle types, of which more than half were SUVs, exceeded the 100,000-unit sales mark in 2023, demonstrating India’s ongoing obsession with SUVs. As new SUV models are huge blockbusters, this tendency is predicted to continue.
Sport-utility vehicles (SUVs) continue to captivate Indians, and this infatuation is only growing because of the vehicles’ usefulness, roomy interiors, perceived safety, and the constantly growing selection of new models.
In 2023, sales of about 16 passenger car models surpassed 100,000 units apiece. SUVs made up more than half of them.
SUV vehicles that achieved a new sales milestone in 2023 included the Mahindra Scorpio, Maruti Brezza and Grand Vitara, Tata Nexon and Punch, Hyundai Creta and Venue, Kia Seltos, and Mahindra Scorpio N and Bolero/Neo. According to data from Jato Dynamics, the trend will probably continue, with several of the newest SUV models proving to be immediate hits.
The Indian passenger car market has seen significant change over the past five years, as shown by the increased concentration on SUVs. More than half of new car buyers favor SUVs, while demand for hatchbacks and sedans has dramatically decreased. Indian families’ workhorses, and multipurpose vehicles, have maintained a stable 12% market share.
The entry-level SUV segment saw sales surpass one million units in CY2023, indicating a notable shift in customer preferences.
Last year, Maruti Suzuki, the biggest automaker in India, added the Fronx and Jimmy models to its lineup of SUVs, strengthening it under the leadership of senior executive director Shashank Srivastava. In fact, in less than ten months after its premiere last year, the entry-level SUV from Suzuki, the Fronx, achieved 100,000 sales.”
Hyundai Motor India predicts SUV sales to account for two-thirds of total sales by 2024 as a result of a revised model lineup. At the recent presentation of the Creta SUV facelift, Tarun Garg, Chief Operating Officer of Hyundai Motor India, told ET, “We expect the share of SUVs in our total sales will be higher.”
In general, the proportion of SUVs sold as domestic passenger cars has increased, reaching 49% in 2023. To draw in more customers, automakers like Maruti Suzuki, Tata Motors, Hyundai, and Mahindra & Mahindra have launched more SUVs.
Due to their increasing affordability and availability of financing alternatives, SUVs are also being preferred by young, first-time drivers. Due to India’s terrible road conditions, vehicles with improved handling and ground clearance are necessary. Small cars lack the sense of security and comfort that SUVs, particularly those with contemporary “all-wheel drive” technology, provide, according to Ravi Bhatia, president of Jato Dynamics.
The SUV models craze continues unabated despite mounting worries about urban congestion. This is especially true for B- and C-segment SUVs, according to Bhatia, which provide the ideal ratio of size and functionality for traversing congested city streets.
According to Jato Dynamics, SUVs will continue to rule the Indian market and take up 60% of it by 2027. Although market shares for sedans and hatchbacks are probably going to continue declining, niche markets like premium hatchbacks and compact sedans may experience some increase. Given their emphasis on room and practicality, MPVs are predicted to continue holding a steady market share.
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