New Delhi - According to the statement made by Shashank Srivastava, Senior Executive Officer (Sales & Marketing) at Maruti Suzuki India, the company aims to double its market share in the SUV segment. This would not only strengthen the company's presence in the SUV segment but also help it achieve its goal of surpassing the 50 per cent market share mark in the domestic passenger vehicle industry.

It is worth noting that Maruti Suzuki India is one of the largest automobile manufacturers in India and has been the market leader in the passenger vehicle segment for several years. However, in recent years, the competition in the SUV segment has intensified, and Maruti Suzuki India has been facing stiff competition from other players in the market.

By focusing on the SUV segment and aiming to double its market share, Maruti Suzuki India is likely to boost its overall market share in the passenger vehicle industry. However, it remains to be seen how the company plans to achieve this goal and what specific strategies it will adopt to increase its market share in the SUV segment.

Srivastava also revealed that Maruti Suzuki India plans to launch its first battery electric vehicle in the next fiscal year. Looking ahead, he stated that by 2030, the company's portfolio is expected to consist of 60% CNG and internal combustion engine vehicles, 25% hybrid vehicles, and 15% electric vehicles.

It is also important to mention that Maruti Suzuki India has been actively exploring alternative fuel options and has a significant presence in the CNG segment with models such as the Alto, WagonR, and Ertiga. With the shift towards electric mobility gaining momentum, the company is now focusing on expanding its electric vehicle portfolio to cater to the changing market demands.