Agro Haryana

Indians are abandoning hatchbacks and switching to SUVs; Market share doubled in 4 years

 SUV Market Share: What was once the dominance of small cars, is now dominated by SUVs. The market share of SUVs has almost doubled in the last four years.
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Indians are abandoning hatchbacks and switching to SUVs; Market share doubled in 4 years
Agro Haryana, New Delhi SUV Market Share In India: What was once the dominance of small cars, is now dominated by SUVs. The market share of SUVs has almost doubled in the last four years. 

Along with this, the market share of SUVs in the Indian car market during FY2023-24 remained more than 50%. This is the first time that the SUV market share remained more than 50% throughout the year. 

At the same time, hatchback cars, which were once the first choice of Indian car buyers and every second car sold in the country was a hatchback, their market share has declined to about 28%. 

A major reason for this is the increasing popularity of SUVs. In the last few years, hatchback prices have increased by 65%. This could also be a reason for low sales of hatchbacks.

Shashank Srivastava, executive committee member, Maruti Suzuki, said, "We see the share of SUVs increasing from here to around 55% or so while hatchbacks may stabilize at around 25%.

" This change has happened so fast that Maruti Suzuki, once known for its most affordable small cars, now accounts for about 22% of its total sales from SUVs.

Whereas at the end of financial year 2023, the share of SUVs in the total sales of Maruti Suzuki was only 11%. The sales of hatchback cars have decreased, but the condition of sedan cars has become even worse. 

Their sales have fallen to only 9% in FY24 whereas this figure was 14.3% at the end of FY20. That is, in just four years the sales of sedan cars have declined by more than half.

It is noteworthy that in view of the increasing demand for SUVs, companies like Mahindra & Mahindra, Hyundai and Tata Motors are also betting on SUVs. 

Not only this, luxury car manufacturing companies like Audi and Mercedes-Benz are also focusing on launching new SUVs.

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