SUVs account for one fourth of total vehicle sales in India as the demand and interest have grown every passing year
One out of every four vehicles sold in India is a SUV. The SUVs hold 25% market share in the country’s auto market compared to 14% at the end of March 2010. This clearly shows, how the SUV sales has increased in the country and SIAM data reveals that it is growing fast with every passing year.
The demands of SUVs and utility vehicles have been increasing in the country for last couple years. In the last financial year, SUV sales increased by 30%, while the overall sales of the cars have grew by 4% only. The trend also indicates that Indian customers prefer SUVs and utility vehicles with diesel engines. Interestingly, in last couple of years, the model numbers in UV segment has grew rapidly, as almost every automaker present in the country are trying to grab a good share of the pie.
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Popularity of SUVs is not only seen in India, but also across the entire world. Hyundai India’s senior vice president for sales and marketing, Mr. Rakesh Srivastava says that Indian customers love stronger, safer and high-seating vehicles, and this mindset leads them towards buying SUVs and utility vehicles. He hopes that SUVs will occupy around 30% market share in next one year.
The launch of compact SUVs priced under Rs. 10 lakh like Maruti Suzuki Vitara Brezza and Ford EcoSport, has played crucial role in increasing the domestic buyer’s appetite. On the other hand, SUVs with price tag over Rs. 10 lakh like Hyundai Creta and Renault Duster has also became popular.
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A new trend has been introduced to the market as well, which began with the Renault Kwid. People who want to buy SUV or crossover, but can’t afford due to budget crunch, are opting towards the mini SUVs or SUVish hatchbacks. Here come the vehicles like Kwid, Hyundai i20 Active, Mahindra KUV100, etc. The slew of new launches in the segment in near future indicates that the trend is getting stronger.
Source: ET Auto