<p>“We strengthened our SUV line-up and rapidly expanded our SUV market share. We will continue to promote the expansion of our SUV models and aim to recover our total passenger car share,” the company said.</p>
“We strengthened our SUV line-up and quickly expanded our SUV market share. We’ll proceed to advertise the enlargement of our SUV fashions and intention to get better our complete passenger automobile share,” the corporate stated.

New Delhi: Japanese auto main Suzuki Motor Corp expects automobile gross sales in India to develop 2% within the ongoing monetary 12 months and its native subsidiary, Maruti Suzuki, to carry out higher than the market, serving to it get better misplaced market share within the nation.

India is a vivid spot for the Japanese auto large, accounting for as a lot as 89% of the incremental quantity of 168,000 models offered by Suzuki globally within the final fiscal 12 months. Whereas gross sales fell in a number of key markets – by 56.5% in Pakistan, 13.3% in Indonesia, 38.5% in Thailand, 9.8% in Latin America and 14.8% in Africa – the Indian subsidiary posted a 9% enhance in quantity at 1.79 million models in fiscal 2024. With this, Maruti Suzuki accounted for 56.6% of the three.17 million automobiles offered by the automaker globally.

The corporate’s gross sales in Asia (excluding India) dropped 31.2% to 178,000 models, primarily attributable to restrictions on imports in Pakistan attributable to a scarcity in overseas foreign money. Foreign exchange restrictions in Africa too damage imports into the continent, Suzuki stated in an investor presentation Monday.

Nonetheless, gross sales rose within the dwelling market of Japan and Europe, however on a low base.

Whereas gross sales in Japan rose by 7.5% to 674,000 models, these in Europe grew 37.9% to 236,000 models.

Suzuki, within the investor presentation that ET has seen, stated it expects Maruti Suzuki to outperform the market this fiscal 12 months, pushed by new mannequin launches and enhance in manufacturing of CNG-run autos which have been in brief provide final monetary 12 months.

The corporate plans to increase its portfolio of SUVs out there right here to tackle competitors.

“We strengthened our SUV line-up and quickly expanded our SUV market share. We’ll proceed to advertise the enlargement of our SUV fashions and intention to get better our complete passenger automobile share,” the corporate stated.

Maruti Suzuki – which has launched almost half a dozen autos within the fast-growing SUV phase within the final 12-18 months, starting from the entry degree Fronx to Brezza, Grand Vitara and Jimny – offered 443,000 SUVs final fiscal 12 months, greater than double in contrast with 202,000 models in FY23.

Final fiscal 12 months, Suzuki stated, each the passenger automobile market in India in addition to its subsidiary’s gross sales within the nation touched document ranges. The product combine additionally improved through the 12 months attributable to rising gross sales of SUVs and utility autos.

“Concerning the gross sales of SUVs, following final 12 months, now we have continued to aggressively introduce SUV fashions on this interval, leading to a market share of 20.8% within the SUV phase. By increasing our share within the SUV phase, which accounts for 50% of the Indian passenger automobile market, we intention to get better our general passenger automobile market share,” the corporate stated.

Within the ongoing fiscal 12 months, the automaker forecasts international gross sales to develop 2.7% to three.25 million models. It expects “to offset the rise in prices for R&D bills and stuck prices attributable to progress investments, with the rise in gross sales quantity, and we anticipate setting new document highs for each gross sales and income” the corporate stated. Suzuki additionally plans to finalise methods throughout varied capabilities together with know-how roadmap and put in place a brand new mid-term administration plan by the top of this fiscal 12 months.

  • Printed On Might 14, 2024 at 07:56 AM IST

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