Suzuki Motor Eyes 50% Mkt Pie In India By 2030

New Delhi:Suzuki Motor Corporation aims to introduce more SUV and MPV models in India along with new entry-level products that meet customer preference as it looks to regain 50 per cent market share in the Indian passenger vehicle segment by FY30.

According to its new mid-term management plan (FY2025-FY2030), the Japanese automaker said it plans to expand business in the Middle East and Africa markets, which have huge growth potential, by supplying products from India.

Elaborating on the Indian market strategy, the company, which has a 58.19 per cent stake in Maruti Suzuki India (MSI), aims to strengthen product capabilities and lineup in the SUV and MPV segments and “rapidly develop and introduce entry segment products that meet the preferences of entry-model customers.” Suzuki said it aims to reclaim 50 per cent share as the market leader in the Indian automobile industry.

Maruti Suzuki India’s market share in the domestic passenger vehicle segment currently stands at around 41 per cent. Suzuki also expects MSI’s annual production capacity to touch four million units in order to meet demand in India and expand as global exports hub. It also aims to be a leading player in terms of production, exports and sales of battery electric vehicles (BEVs) in the country.

Maruti Suzuki has unveiled e VITARA last month which would be sold both in domestic and export markets. The company said it plans to expand BEV lineup starting with e VITARA, aiming to launch four models by FY2030. Suzuki aims for proactive investment into charging infrastructure for BEV popularisation in India, it added. Terming, India as the most important market, the company said it expects it to continue growing and serve as the engine for Suzuki’s future growth.

The competitive environment is becoming increasingly severe, and the quality of product functions, equipment and services required by customers is increasing, it noted. Through, Maruti Suzuki India, the company said it aims to introduce models with multiple powertrains which are best suited to local conditions for each region in India.