Maruti Suzuki to go aggressive to regain market share in SUV segment

Fourth-quarter profit zooms 58% on boost from price hikes

Maruti Suzuki is looking to launch a slew of products, particularly in the SUV segment, this financial year to regain the lost market share.

The company reported a 58 per cent rise in net profit in the fourth quarter of FY22 as price hikes and lower sales promotion costs helped the country’s top carmaker outweigh the impact of high raw material costs and global semiconductor shortages.

The company said chip shortages had severely hurt its domestic sales but it had been able to make it up with exports.

Maruti’s strategy for the SUV segment is to arrest the decline in customers for entry