Suzuki is bullish on India market

18 May 2023 CW Team

Suzuki – which aims to increase global volumes by 6.2 per cent or 186,000 passenger vehicles in the current fiscal year – expects its subsidiary Maruti Suzuki to outperform competitors in the local market this fiscal year.

The market growth for Indian automobiles is expected to be +5-7 per cent year on year, and our company's Indian automobile sales are expected to be higher, SMC said in a presentation to investors.

The company's passenger vehicle sales in India rose by 20.5 per cent to 1.65 million units in the fiscal year ended on March 31, ahead of the domestic market in Japan where volumes increased by 11.7 per cent in the same period. With this, the proportion of Maruti Suzuki in parent Suzuki Motor Corporation's global sales increased to 54.8 per cent, from 50.4 per cent in FY22. The subsidiary's share in the total global production of automobiles for SMC was even higher at about 60 per cent, up from 58.8 per cent the previous year. Contribution to net sales, meanwhile, increased by over 600 basis points to 40.8 per cent in the period under consideration.

To be sure, constraints in the availability of semiconductors and a lack of products in the SUV segment earlier in the year did impact Maruti Suzuki's share in the local market. However, SMC stated, "We will try to regain our market share by introducing SUVs."

Overall, Maruti Suzuki held a share of about 41 per cent in the Indian passenger vehicle market at the end of the last fiscal year. The company's share in the SUV segment, though, has been rising with the introduction of new models. Maruti Suzuki's share in the category increased sixfold and stood at 17.4 per cent in March 2023, compared to 3.9 per cent in July 2022, prior to the introduction of the new Brezza and Grand Vitara. Bookings remain strong for the Fronx and the soon-to-be-launched Jimny, SMC said.

Given the potential in the market here, Maruti Suzuki is considering investing about Rs 450 billion to double production capacity to 4 million units by the end of the decade to meet consumer demand in the local market and increase exports from the country, a news publication reported last week.

Maruti Suzuki is aiming to regain lost market share over the next few years with a range of new releases in the fast-growing SUV and electric car segments. In a recent interaction, Maruti Suzuki chairman R C Bhargava said, "Our intention is to regain our market share as closely as possible to the 50 per cent we have had in the past."

Also Read
JSW Infra announced expansion plans at NMPT
DLF plans to launch projects worth Rs 200 bn in current fiscal

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

India was the fastest-growing market for Suzuki Motor Corporation (SMC) in the last financial year and, with a flurry of releases in the rapidly expanding sports utility vehicle (SUV) sector, the Japanese carmaker remains optimistic about growth prospects here despite global uncertainties. Suzuki – which aims to increase global volumes by 6.2 per cent or 186,000 passenger vehicles in the current fiscal year – expects its subsidiary Maruti Suzuki to outperform competitors in the local market this fiscal year. The market growth for Indian automobiles is expected to be +5-7 per cent year on year, and our company's Indian automobile sales are expected to be higher, SMC said in a presentation to investors. The company's passenger vehicle sales in India rose by 20.5 per cent to 1.65 million units in the fiscal year ended on March 31, ahead of the domestic market in Japan where volumes increased by 11.7 per cent in the same period. With this, the proportion of Maruti Suzuki in parent Suzuki Motor Corporation's global sales increased to 54.8 per cent, from 50.4 per cent in FY22. The subsidiary's share in the total global production of automobiles for SMC was even higher at about 60 per cent, up from 58.8 per cent the previous year. Contribution to net sales, meanwhile, increased by over 600 basis points to 40.8 per cent in the period under consideration. To be sure, constraints in the availability of semiconductors and a lack of products in the SUV segment earlier in the year did impact Maruti Suzuki's share in the local market. However, SMC stated, We will try to regain our market share by introducing SUVs. Overall, Maruti Suzuki held a share of about 41 per cent in the Indian passenger vehicle market at the end of the last fiscal year. The company's share in the SUV segment, though, has been rising with the introduction of new models. Maruti Suzuki's share in the category increased sixfold and stood at 17.4 per cent in March 2023, compared to 3.9 per cent in July 2022, prior to the introduction of the new Brezza and Grand Vitara. Bookings remain strong for the Fronx and the soon-to-be-launched Jimny, SMC said. Given the potential in the market here, Maruti Suzuki is considering investing about Rs 450 billion to double production capacity to 4 million units by the end of the decade to meet consumer demand in the local market and increase exports from the country, a news publication reported last week. Maruti Suzuki is aiming to regain lost market share over the next few years with a range of new releases in the fast-growing SUV and electric car segments. In a recent interaction, Maruti Suzuki chairman R C Bhargava said, Our intention is to regain our market share as closely as possible to the 50 per cent we have had in the past. Also Read JSW Infra announced expansion plans at NMPTDLF plans to launch projects worth Rs 200 bn in current fiscal

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

Technology

27 Jun 2026

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Real Estate

27 Jun 2026

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..