Maruti Suzuki launched their new fourth generation Swift hatchback model in the Indian automobile market last week. Following this, the Dzire is also gearing up to launch a facelifted version of the model. Meanwhile, the company has also set new targets for CNG and SUV sales. The company had also announced that it will focus on the hatchback during the launch of the Swift model. What are Maruti’s plans and goals in India?
Maruti has a strong position in the car sales market in India with a market share of 42%. The company’s major strengths are its entry-level hatchbacks and CNG models. Maruti has the majority market share in both the above segments. In the last financial year (FY24), the company sold 4.50 lakh CNG cars, and in the current financial year (FY25), it has set a target of selling 6 lakh CNG cars, which is 30% more than that. The company currently sells CNG models in India namely WagonR, Brezza, Ertiga and Dzire.
Also, while the company exported 2.83 lakh cars in the last financial year, Maruti has set a target of exporting 3 lakh cars in the current financial year. The company was exporting only 1 lakh cars a year till four years ago, but now it has gone up to over 2.50 lakh. Apart from this, the production capacity of the company’s factory in Manesar, Haryana was increased to 1 lakh units per year only last April and became operational.
Also, a new project is being implemented at Karkoda in Haryana. Maruti plans to set up four plants at Karkoda with a combined annual production capacity of 10 lakh cars. The company said that the first plant will be operational in 2025. By 2030, Maruti Suzuki has set a target of achieving a production capacity of 40 lakh cars per year.
Meanwhile, Japan-based Suzuki Motors, which has talked about Maruti Suzuki’s market share in India, has said that it is going to upgrade its SUV lineup to capture the lost market share. Suzuki Motors holds 58% stake in Maruti Suzuki.
Maruti had a market share of 50% of the Indian car sales market until a few years ago. But as the SUV craze in India started to pick up, the company’s market share has now dipped to 42%. Suzuki Motors has announced that it is going to improve the SUV lineup to compensate for this. Maruti currently sells three SUV models in India namely Brezza, Jimny and Grand Vitara.
