Car market leader Maruti Suzuki India Ltd plans to drive in seven new SUVs in the next five to six years in order to enhance its share in the fast-growing segment, its managing director and CEO Hisashi Takeuchi said on Tuesday.
In an investor presentation, he said the company will also introduce entry level car “unique to Suzuki” in order to tap first-time buyers in India. “The share of SUVs within the Indian passenger vehicle market has been growing rapidly. Maruti Suzuki is expanding its product offerings in the SUV segment to secure market share,” Takeuchi said.
He further said, “In the next five-six years, seven new SUVs are planned to be introduced. The Indian passenger vehicle market has witnessed an increase in SUV composition ratio, which reached 54.7 per cent in 2024 from 26.5 per cent in 2019.”
The SUV market share of Maruti Suzuki India Ltd (MSIL) increased from 16.8 per cent in FY19-20 to 19.6 per cent in FY25-26 (Apr25-Feb26 period), Takeuchi said, adding “this market share gain was driven by several new SUV launches”.
The launches include e VITARA, Victoris, Jimny, Fronx, Grand Vitara, and full model change of Brezza in the last four years. Takeuchi reiterated parent Suzuki's goal of making India its global manufacturing base for automobiles and motorcycles through Make in India initiative.
As part of the India strategy under the mid-term management plan of Suzuki, he said the company will undertake expansion of its medium and large SUV/MPV lineup in preparation for the upgrade of customer preference, while also expanding mid-SUV lineup. MSIL will “introduce entry car unique to Suzuki” to incorporate “first time buyers”, he noted.
Bullish on the Indian market, he said rising income levels will support higher consumption and a significantly larger domestic market. The company has set a “target of around 4 million units annual production capacity to meet demand in India and expand as global exports hub”, he said, adding it will “monitor market conditions and gradually build 4 million units per year capacity at appropriate time”.
Takeuchi also noted that the company will take multi fuel path, including electric and hybrid, besides CNG and biofuel, towards carbon neutrality.
Also read: Maruti Suzuki enters EV segment with eVitara
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