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Twelve months after it recorded cumulative sales of 20 lakh units in March 2023, Maruti Suzuki India’s premium Nexa retail sales channel has surpassed the 25 lakh-unit milestone in India. As per company and SIAM industry wholesales data, cumulative Nexa vehicle dispatches totalled 25.8 lakh units at the end of March 2024. Together with April (42,727 units) and May 2024 wholesales, the big Nexa number increases to an estimated 26.7 lakh units.
- 25 lakh sales milestone achieved in eight years and six months
- Baleno, Ignis and Ciaz have been top contributors
- Next Nexa model likely to be the Maruti eVX EV
The latest sales milestone came in March 2024, 104 months or eight years and six months after the carmaker kicked off the Nexa initiative on July 23, 2015, followed by the launch of its first Nexa model – the now-discontinued S-Cross – on August 5, 2015.
Since then, the carmaker has launched eight other models – which constitute two hatchbacks (Baleno and Ignis), one sedan (Ciaz) and three SUVs (Grand Vitara, Fronx and Jimny) and two MPVs (XL6 and Invicto). Three of these models – Fronx, Jimny and Invicto – were launched in FY2024. Nexa was a strategic marketing move to diversify the brand's retail offerings in terms of value and also target a new emerging segment of customers with changing preferences – Young India.
Clearly, the differentiating sales strategy has paid off handsomely. From 68,774 units and a 5.26 percent share of Maruti Suzuki’s total sales of 13,05,351 units in FY2016, Nexa’s contribution has jumped to 19.92 percent in FY2018 – 3,27,538 units out of a total 16,43,467. Demand dipped in the COVID-impacted FY2020 and FY2021, but revived to 3,69,158 units in FY2023 when Nexa models had a 23 percent share of Maruti Suzuki’s total sales of 16 lakh units. FY2024 was the best-ever fiscal for Nexa – sales jumped by 52 percent YoY to 5,61,050 units, crossing the half-a-million (5 lakh) mark for the first time and accounting for 32 percent of the company’s wholesales of 17.5 lakh cars and SUVs – its best domestic market sales for a fiscal year.
Importantly, in what is a sign that the differentiating strategy has been spot-on, nearly 50 percent of Nexa customers are under 35 years old and a very high percentage of them being first-time car buyers.
Baleno is Nexa bestseller, Grand Vitara and Fronx new growth drivers
Nexa’s growth over the past nine fiscal years is mirrored by the number of models Maruti Suzuki has introduced. From just two models (S-Cross and Baleno) in FY2016, the Nexa model range has expanded to eight in FY2024.
The Baleno hatchback is Nexa's bestseller by a huge margin over other models. Introduced in October 2015, the Baleno has sold 14.5 lakh units and accounts for 56 percent of all Nexa sales till end-FY2024. Its highest fiscal year sales were in FY2019 (2,12,330 units). FY2023 sales (2,02,901 units) came close to that, albeit FY2024 sales were down 3.59 percent on FY2023 at 1,95,607 units.
The Ignis, launched in January 2017, with cumulative sales of 2,76,762 units, has an 11 percent share of Nexa sales till date. Its best year was FY2023 (59,852 units). The third highest contributor to Nexa sales is the Ciaz sedan with 1,84,008 units and a 7 percent share; however, sales of the sedan have fallen sharply over the years. From 58,913 units in FY2018 to 10,337 units in FY2024, it’s been quite a climbdown.
Ranked fourth on the Nexa ladder-board in terms of total sales, is the Grand Vitara midsize SUV. Launched in September 2022, the Grand Vitara has been one of Maruti Suzuki’s recent successes – the 1,72,484 units give it a 6.66 percent share of Nexa sales. In October 2022, Maruti Suzuki, which has the largest portfolio of CNG cars in India, expanded its factory-fitted CNG offerings to Nexa offering likes the Baleno and XL6. In January 2023, the recently launched Grand Vitara also got the CNG treatment.
Meanwhile, the XL6, which is in its fifth year, notched its best-ever annual sales in FY2024: 45,131 units, up 24 percent YoY (FY2023: 36,423 units). FY2024 saw Maruti Suzuki launch three all-new Nexa models – Fronx, Jimny and the Invicto. Of these three, the Fronx compact SUV has been the most successful – not only was it the fastest Indian passenger vehicle to hit the 1,00,000 sales mark in just 10 months, but it also surpassed the 1,50,000 unit milestone just 14 months after the launch in April 2023. This gives it a 5 percent share of total Nexa sales and a 24 percent share of FY2024 sales.
The Jimny, of which much was expected, however, has been quite a different story. Launched in June 2023, the five-door model clocked sales of 17,009 units, far less than what Maruti Suzuki had targeted. In July 2023, Maruti launched the newest Nexa model – the Invicto MPV at Rs 24.79 lakh – aiming to tap the potential of the over-Rs 20 lakh price segment which has grown in tandem with the increasing affluence of the Indian car buyer. The Invicto, offered in seven- and eight-seat configurations, is part of the Toyota-Suzuki global alliance and is based on the Toyota Innova Hycross.
Nexa outlets: highlights
From 40 outlets at the time of the premium retail channel’s opening in July 2015, Nexa now has nearly 500 showrooms in around 300 cities across the country. This has ensured ample reach in the farthest regions of India – in fact, rural India is also warming up to Nexa, which is also seeing strong demand from town and country.
Interestingly, almost 30 percent of Nexa sales – which translates into over 1,68,000 units in FY2024 – comes from non-urban centres. Recognising this trend, in February 2024, Maruti Suzuki had the nationwide launch of its compact-format Nexa Service workshops to reach out to customers in non-urban centres. The first six centres are strategically located in Ateli (Haryana), Charkhi Dadri (Haryana), Bankura (West Bengal), Dahod (Gujarat), Nirmal (Telangana), and Ooty (Tamil Nadu). The company now plans to set up 100 such workshops by the end of FY2025.
Built over a 75 square metre area, these workshops are equipped with a dedicated front office, customer lounge, service bay, and parking bay. Customers can avail of common services like periodic maintenance and regular repairs at these workshops. Having introduced Nexa Service in 2017, Maruti Suzuki has expanded this network to over 390 touchpoints across the country.
The next Nexa model is likely to be the Maruti eVX, the first electric vehicle from India's passenger vehicle market leader slated for rollout around March 2025. Meanwhile, one can expect the Nexa sales momentum to continue to be robust and keep bringing in the big numbers for the carmaker.
Also see:
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Third-gen Maruti Swift gets attractive discounts this month
Maruti Grand Vitara, Fronx, Baleno get discounts of up to Rs 74,000 this month
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