Maruti's grip on market weakens

New launches fail to stop carmaker’s mkt share erosion

- VIKRAM CHAUDHARY

THE COUNTRY'S LARGEST passenger vehicle manufacturer, Maruti Suzuki India, has seen its market share dip below the 40% mark for the first time.

According to the latest half-yearly data released by the Society of Indian Automobile Manufacturers (SIAM), the company’s share in the domestic passenger vehicle market fell to 38.8% in the first half of FY26, when it sold 795,446 units out of 2,051,082 cars sold during the period.

Maruti Suzuki had a market share of over 51% as recently as FY19. Since then, the share has steadily eroded -- 51% in FY20, 47.7% in FY21, 43.4% in FY22, 41.3% in FY23, 41.7% in FY24, 40.9% in FY25, and now 38.8% in H1FY26.

The fall comes despite an unprecedented series of new model launches. Over the last few years, Maruti Suzuki has introduced five new-generation models, five all-new nameplates, and multiple facelifts across its portfolio. The new-generation models include the Celerio (November 2021), Brezza (June 2022), Alto (August 2022), Swift (May 2024), and Dzire (November 2024).Among the all-new models are the Grand Vitara (September 2022), Fronx (April 2023), Jimny (June 2023), Invicto (July 2023), and the recently launched Victoris (September 2025).