New Delhi: Maruti Suzuki India saw its grip on the domestic passenger vehicle market weaken further in FY26, with its market share falling to a 13-year low of 39.26 per cent, according to data from the Society of Indian Automobile Manufacturers (SIAM).
This marks the third consecutive year of decline for the country’s largest carmaker, which once commanded nearly half of India’s passenger vehicle market.
Since FY20, the Gurugram-based company has lost close to 12 percentage points in market share, according to the data.
The decline comes despite Maruti Suzuki stepping up its presence in the fast-growing sport utility vehicle segment with launches such as the Jimny and the Victoris over the past three-and-a-half years.
However, the company has struggled to gain meaningful traction in this category.
Utility vehicles now account for nearly 67 per cent of India’s passenger vehicle market, but Maruti Suzuki’s share in this segment remains below 25 per cent.
In contrast, the automaker continues to rely heavily on its stronghold in the sub-4 metre segment, led by models like the Wagon R, Swift and Baleno, where it enjoys a dominant 67 per cent market share.
However, growth in this category has slowed significantly, expanding by less than 2 per cent in FY26, compared to an 11 per cent growth in utility vehicles.
Meanwhile, last month, the carmaker received a draft assessment order from the Income Tax Authority involving a demand of Rs 5,786 crore.
The company, however, clarified that the notice will not have any impact on its financial or operational performance.
In a regulatory filing on March 17, the automaker said it will file its objections before the Dispute Resolution Panel as part of the due process.
“The company has received a Draft Assessment Order for the FY2022–23 wherein certain additions / disallowances amounting to Rs 57,864 million with respect to returned income (the income disclosed by the company in its Income Tax return) has been proposed,” the carmaker said on March 17.
(IANS)
