Maruti Suzuki plans to introduce eight SUVs over the next five to six years, bringing its total model range to 28, as it aggressively aims to regain a 50 per cent market share in the domestic passenger vehicle segment. This announcement was made by Suzuki Motor Corporation (SMC) Representative Director and President Toshihiro Suzuki on Wednesday.
Interacting with visiting Indian journalists on the sidelines of the Japan Mobility Show, Suzuki acknowledged the enhanced competition in the Indian car market. He noted that getting back to the 50 per cent mark would be the "toughest ever" challenge for Maruti Suzuki in its history in the country. SMC holds approximately a 58 per cent stake in Maruti Suzuki India (MSI), the nation's largest carmaker.
MSI's market share in the over 43 lakh-unit domestic passenger vehicle market has dropped to around 39 per cent in the April-September period of the current fiscal year.
"In order to improve market share we will launch 8 SUVs over the next 5-6 years, taking our overall product range to 28 models," Suzuki stated when asked about the company's initiatives. He reiterated the company's commitment to achieving 50 per cent market share and also becoming the number one player in EV production and exports.
Maruti Suzuki currently sells 18 models domestically, having seen its market share fall from 51.2 per cent in FY19 to 38.8 per cent in H1FY26.
India strategy and future outlook
Elaborating on the India strategy, Suzuki confirmed that MSI will focus on regaining the 50 per cent share domestically while simultaneously expanding its overseas shipments. To support this growth, the production capacity at MSI plants will be enhanced to 40 lakh units per annum to cater to both domestic and export demands.
Suzuki noted that the automaker will offer a multi-pathway strategy—including electric, hybrid, and CNG models—to cater to the diverse needs of customers in a large country like India.
"First on carbon neutrality, considering the regulatory and defined carbon neutrality goals of each country, Suzuki will bring appropriate carbon neutral technologies. Our philosophy is that each vehicle that Suzuki sells must contribute towards carbon neutrality goals in respective markets," he said.
The company is also focusing on biogas-powered vehicles, with plans to set up nine biogas plants in Gujarat. Suzuki also highlighted SMC's commitment to India, which includes an already announced investment of Rs 70,000 crore by FY30-31.
"We'll be careful in bringing products and technologies across segments to fulfill aspirations of different customers, from entry-level cars for the first-time buyers, to large SUVs and MPVs for higher income customers," Suzuki added.
On the impact of GST reductions on small car sales, he believes it will encourage all manufacturers to introduce more such models in the market.
Export ambitions
Suzuki reaffirmed SMC's vision for India as its global production hub. He also suggested that with the passage of the India-EU Free Trade Agreement (FTA), India could emerge as an export hub for European nations.
"We expect the export number to reach 4 lakh units this fiscal year," Suzuki said.
- The company is on track to export over 4 lakh vehicles this fiscal year, having already shipped more than 2 lakh units in the April-September period.
- In August, Prime Minister Narendra Modi kicked off exports of Maruti Suzuki's first electric vehicle, the e VITARA, to 100 countries. This model is manufactured exclusively at Suzuki Motor Gujarat (SMG).
- The first batch of the e VITARA was shipped from Pipavav port to the European region, including the UK, Germany, Norway, France, and Denmark.
- In 2024, the company achieved its highest-ever exports for any calendar or fiscal year, at around 3.3 lakh units.
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