Amid slowdown, MPV segment grows by 35% in 2019

According to a media report, despite the slowdown in the automobile market, MPV sales grew by 35% to 2.2 lakhs units in 2019.

The share of MPVs in the market grew from 5% to 8%. The Maruti Suzuki Ertiga accounted for nearly 50% of the total MPV sales. Other MPVs that did well include the Maruti Suzuki XL6, Mahindra Marazzo, Renault Triber and the Toyota Innova.

The share of petrol variants has increased from 5% about 5-7 years ago to 35-38%. The Renault Triber, which is available only with a petrol engine, performed well and Maruti also saw a good demand for the CNG variant of the Ertiga.

The share of first time buyers has gone up from 16% to 37% over the last 7 years for the Eritga. This figure stood at 62% for Renault India.

The segment is expected to grow further fueled by new launches from Kia (Grand Carnival) and Toyota (Vellfire).

The report suggests that practicality, comfort and space, along with a good design and features offered are drawing customers towards the MPV segment.

Source

Source: Read Full Article