Maruti Suzuki Targets Faster Growth, Plans Seven New SUVs in 5-6 Years
New Delhi, Aug 9 (TNT): Maruti Suzuki India Ltd is targeting its next phase of growth on the back of a revival in the small-car segment, an expanding SUV portfolio, capacity additions, a multi-powertrain strategy and strong export performance, according to its Annual Integrated Report 2025-26.
The report, titled “The Next Million, New Momentum”, said the company recorded its highest-ever annual sales of 24.22 lakh vehicles and record exports of 4.47 lakh vehicles in FY2025-26.
The company crossed the two-million-unit annual sales mark for the third consecutive year and expressed confidence of reaching its next million-vehicle milestone earlier than anticipated.
Maruti Suzuki Chairman R C Bhargava said the recent GST reforms had provided fresh momentum to the automobile industry and several other sectors of the economy.
He said the company currently estimated that India’s car market could grow to 6.1-6.3 million units by FY2030-31, with the small-car segment expected to grow at a significantly faster pace than in the previous five years.
Managing Director and CEO Hisashi Takeuchi said the company had accelerated its capacity expansion plans in view of the medium-term market outlook.
The company added 500,000 units of manufacturing capacity during FY2026-27, while planning to introduce seven SUVs over the next five to six years to strengthen its presence in the segment.
Takeuchi said the automobile industry had an important role in India’s development journey towards 2047 through manufacturing, exports, technology development, employment generation, skill creation and sustainable mobility.
On the clean-energy front, Bhargava said India would need a multi-technology approach to achieve its Net Zero goals and highlighted biogas as a potential domestic renewable fuel source.
The Maruti Suzuki board has approved setting up four biogas plants in the first phase at a cost of Rs 561 crore, he said.
The company would initially focus on gaining experience in biogas production and technology before considering larger investments in production and distribution, Bhargava said.
He said biogas could help substitute imported CNG, provide a renewable source of energy and reduce pressure on conventional energy sources.
Takeuchi said the company’s next million vehicle sales would represent more than a volume milestone, with the company aiming to contribute to greater access to mobility, stronger manufacturing capabilities, deeper localisation and wider adoption of cleaner technologies.
TNT KS
