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The MPV or Multi-Purpose Vehicle segment in the Indian market, has recorded a sales growth of 14 percent for the first time in quite a few years. The segment is now the fastest growing in the Indian automotive industry, mainly due to the increased demand of MPVs in the market.
The SUV segment which has been the most popular in the Indian market has slipped for the first time in the past decade. The SUV segment sales declined marginally in FY-2019 by 1 percent. However, it is expected to pick-up steadily over the coming months.
The increase in demand for MPVs in the market is mainly fueled by new launches in the market. These launches include the new Maruti Ertiga and the Mahindra Marazzo. Both the new products, along with the consistent sales of the popular Toyota Innova Crysta has allowed the MPV segment to record a growth in an otherwise, slow market.
All three popular MPVs, offer a number of features, rich interiors and the capacity to seat seven passengers has added to their demand in the Indian market. Apart from the Maruti Ertiga and the Mahindra Marazzo, other manufacturers are also looking into introducing new products in the segment soon.
This includes Tata with their Harrier-based 'Cassini' and the Renault Triber; both of which are expected to launch in the Indian market sometime during the latter part of 2019.
Maruti Suzuki launched the new Ertiga MPV in the Indian market, back in November 2018. Prices for the new Ertiga MPV start at Rs 7.44 lakh, ex-showroom (Delhi). The Mahindra Marazzo, on the other hand was introduced in the market back in September 2018 and if offered with a starting price of Rs 9.99 lakh, ex-showroom (Delhi).
The new Maruti Ertiga is available with both petrol and diesel engine options while the Marazzo is currently present with just a single diesel engine unit.
Thoughts On The MPV Sales In India
The MPV segment in the Indian market has recorded a major growth in FY2019. While the passenger vehicle sales has grown by just 2.4 percent while the MPV segment has grown by 14 percent. With more MPV launches taking place in the coming months, we expect the segment to further grow in the market in the future as well.