Maruti Suzuki to Launch Eight SUVs to Regain Market Share
Maruti Suzuki plans to introduce eight new SUVs over the next five to six years, expanding its total product range to 28 models as it seeks to reclaim a 50% market share in the domestic passenger vehicle segment, according to Suzuki Motor Corporation (SMC) Representative Director and President Toshihiro Suzuki. This announcement was made during a media interaction with Indian journalists at the Japan Mobility Show.
Suzuki acknowledged the intense competition in the Indian automotive market, stating that the challenge of regaining a 50% market share is the “toughest ever” in Maruti Suzuki’s history. SMC owns approximately 58% of Maruti Suzuki India (MSI), which is the largest car manufacturer in the country.
As of the April-September period of the current fiscal year, MSI’s market share has fallen to around 39% in a domestic market of over 4.3 million units. Suzuki emphasized that to improve market share, the company will roll out eight new SUVs, indicating a significant commitment to capturing a larger segment of the market, including efforts to become a leader in electric vehicle (EV) production and exports.
Currently, Maruti Suzuki has 18 models available in India, with its market share decreased from 51.2% in FY19 to 38.8% in the first half of FY26.
India Strategy and Future Outlook
Expanding on the company’s strategic direction for India, Suzuki confirmed that MSI will concentrate on regaining its 50% share while also increasing its export capacity. The production capacity at MSI plants is set to be elevated to 4 million units per annum to meet both domestic and international demand.
Suzuki outlined a multi-pathway strategy that will include electric, hybrid, and CNG models to cater to the diverse consumer needs in India. He emphasized the importance of carbon neutrality and the necessity for technologies aligned with the carbon-neutral goals of various markets. The company is also exploring biogas-powered vehicles, with plans to establish nine biogas plants in Gujarat. He reiterated SMC’s commitment to invest ₹70,000 crore in India by FY30-31.
Suzuki noted, “We’ll be careful in bringing products and technologies across segments to fulfill aspirations of different customers, from entry-level cars for first-time buyers to large SUVs and MPVs for higher income customers.” Moreover, he stated that reductions in GST for small cars are likely to motivate manufacturers to introduce more models in that category.
Export Ambitions
Suzuki reaffirmed SMC’s vision of establishing India as a global production hub. The company anticipates that the India-EU Free Trade Agreement could position India as an export center for European markets.
He projected that export numbers might reach 400,000 units by the end of the fiscal year, with more than 200,000 units already shipped between April and September. In August, Prime Minister Narendra Modi initiated exports of Maruti Suzuki’s first electric vehicle, the e VITARA, to 100 countries, manufactured exclusively at Suzuki Motor Gujarat (SMG). The first shipments went from Pipavav port to various European countries, including the UK, Germany, Norway, France, and Denmark. In 2024, the company reported its highest exports to date, totaling approximately 330,000 units for the fiscal year.
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