Maruti Suzuki is gearing up for a major product offensive, planning to launch eight new SUV models in the next five to six years to secure its return to a 50% market share in the Indian passenger vehicle segment. This strategic expansion will grow its extensive model lineup from 18 to 28 vehicles. The company’s leadership acknowledged that achieving this ambitious target presents a formidable challenge given the evolving competitive landscape. The current market share stands at approximately 39% for the first half of FY26, a decrease from 51.2% recorded in FY19. To support this aggressive growth plan, Maruti Suzuki will expand its manufacturing capabilities to produce 4 million vehicles annually, capable of meeting both domestic and international demand. The company is committed to a ‘multi-pathway’ approach, offering a diverse range of powertrain technologies such as electric, hybrid, and CNG, to cater to the wide spectrum of Indian consumer requirements. Significant financial commitment is also planned, with an investment of Rs 70,000 crore slated for India by FY31, underscoring its long-term vision for the market. This includes initiatives like developing biogas-powered vehicles and establishing biogas plants. The company also aims to be a top player in electric vehicle manufacturing and exports. Maruti Suzuki intends to serve every customer segment, from first-time buyers needing affordable cars to affluent customers looking for larger SUVs and MPVs. Furthermore, the company sees India as a crucial global production hub, with substantial export growth anticipated, potentially reaching 400,000 units this fiscal year.
