Maruti Suzuki targets 3 lakh exports in FY25, eyes 8 lakh milestone by 2030

  • Maruti Suzuki aims to ramp up its exports business with continuous focus on new models launches in the overseas markets.
Maruti Brezza Grand Vitara Jimny Fronx
Maruti Suzuki aims to ramp up its exports business with continuous focus on new models launches in the overseas markets.
Maruti Brezza Grand Vitara Jimny Fronx
Maruti Suzuki aims to ramp up its exports business with continuous focus on new models launches in the overseas markets.

Maruti Suzuki India is aiming to ramp up its export numbers significantly in this financial year, reported PTI. The car manufacturer that holds the lion's share in the Indian passenger vehicle market reportedly targets to export three lakh units of made-in-India vehicles to overseas markets. The automaker is also reportedly aiming to ramp up the number to eight lakh units by the end of this decade.

Maruti Suzuki India's Executive Director of Corporate Affairs Rahul Bharti reportedly told the news agency that the car manufacturer plans to launch more passenger vehicle models in its various export markets that span over 100 countries around the world. Besides this, Maruti Suzuki is also aiming to enhance its distribution network and its more than 40 years of experience in the Indian market will be influential in that strategy.

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Bharti reportedly said that till about three years ago, Maruti Suzuki's exports were in the range of one to 1.2 lakh units per annum. The OEM decided to scale up drastically as part of its national vision and as a business ambition. "We decided to scale up drastically and from those levels and in 2022-23 we reached about 2.59 lakh units exports and in 2023-24 we completed 2.83 lahks," he reportedly said, further adding, "The interesting part of this is that it bucked the trend of the industry. While the rest of the car industry exports actually shrunk by 3 per cent, Maruti Suzuki was able to grow by about 9.3 per cent to 2.83 lakh units a year. With this 42 per cent of all cars exported from India are from Maruti Suzuki."

Strategy in sync with Indian government's vision

Bharti said that the auto company's export strategy is in line with the Indian government's vision to step up the country's exports in an attempt for India to capture a larger share of the global trade to meet the ambitions of 'Viksit Bharat'. "We are not only doing this with existing models. Even for the EV, the start of production of which will be in FY25, we would start export, and export it to advanced markets like Japan and Europe," he noted.

On the road ahead for exports, Bharti reportedly said that the OEM hopes to keep improving the numbers steadily. By 2030 we have a target of 7.5 lakh to 8 lakh units total exports," he added. When asked if the company can cross the 3 lakh units mark in exports in FY25, Bharti said, "Yes certainly. It is possible barring any major surprises."

Sharing the company's strategy for increasing exports, Bharti said, "We don't have all the models in all the 100 markets now. Therefore, the way to enhance exports is more model launches in more countries of the world and at the same time more distribution network."

Maruti Suzuki registered record exports in FY24

Maruti Suzuki posted record export numbers in FY24 with 283,067 units, up from the previous best of 259,333 units posted in FY23. In comparison, Maruti Suzuki's exports in FY22 were 238,376 units.

Prior to that, in FY21 the automaker's overseas shipments were at 96,139 units, while in FY20 it was at 102,171 units and in FY19 it stood at 108,749 units. In the just concluded FY24, Maruti Suzuki's top ten export markets were South Africa, Saudi Arabia, Chile Mexico, the Philippines, Indonesia and Ivory Coast. Also, the carmaker's top export models were Baleno, Dzire, Swift, S Presso, Grand Vitara, Jimny, Celerio and Ertiga.

First Published Date: 07 Apr 2024, 12:42 PM IST
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