Maruti Suzuki's Ambitious Plan: 8 New SUVs in 5 Years to Reclaim 50% Market Share
Maruti Suzuki India is preparing for one of its most aggressive product offensives in company history, with plans to introduce eight new SUVs over the next five years. This strategic initiative aims to help India's largest carmaker regain its coveted 50% market share in the domestic passenger vehicle segment, according to Suzuki Motor Corporation President Toshihiro Suzuki.
The Market Share Challenge
Speaking at the Japan Mobility Show in Tokyo, Suzuki acknowledged the intensifying competition in India's automotive market. The company's market share has experienced a significant decline, dropping from 51.2% in FY19 to just 38.8% in the first half of FY26.
During the April-September period of the current fiscal year, Maruti Suzuki's share in the domestic passenger vehicle market—which exceeded 43 lakh units—has slipped to approximately 39%. Suzuki candidly admitted that regaining the 50% mark would be "the toughest ever" challenge for Maruti Suzuki in its entire history in India.
Expanding Product Portfolio to 28 Models
The introduction of eight new SUVs will expand Maruti Suzuki's total model lineup to 28 vehicles, up from the current 18 models available in the domestic market. This substantial portfolio expansion reflects the company's recognition that SUVs have become the fastest-growing segment in India's passenger vehicle market.
Suzuki Motor Corporation, which holds approximately 58% stake in Maruti Suzuki India, is fully committed to supporting this ambitious growth strategy with significant capital investments and technological resources.
Multi-Pronged Technology Strategy
Beyond SUVs, Maruti Suzuki is embracing a comprehensive multi-pathway approach to powertrains and technologies. The company plans to offer diverse options including:
- Electric vehicles (EVs) - with ambitions to become number one in EV production and exports
- Hybrid vehicles - including strong hybrid electric vehicles with lithium-ion battery cells
- CNG-powered models - catering to cost-conscious customers
- Biogas-powered vehicles - with plans to establish nine biogas plants in Gujarat
Toshihiro Suzuki emphasized that this multi-pathway strategy aligns with the company's philosophy that "each vehicle that Suzuki sells must contribute towards carbon neutrality goals in respective markets."
Production Capacity Expansion
To support its ambitious growth plans, Maruti Suzuki is significantly expanding manufacturing capabilities. The company's production capacity at its Indian plants will be enhanced to 40 lakh units per annum, designed to serve both domestic demand and international export markets.
Suzuki Motor Corporation has already committed a massive investment of Rs 70,000 crore by FY30-31 to strengthen its overall presence in India, underscoring the strategic importance of the Indian market to the global Suzuki organization.
Export Ambitions and Global Hub Strategy
Maruti Suzuki is not just focused on domestic market recovery—the company has aggressive export targets as well. The automaker expects to reach 4 lakh units in exports during the current fiscal year, having already shipped more than two lakh units in the April-September period.
In 2024, the company achieved record exports of approximately 3.3 lakh units, representing the highest export volume in the company's history, regardless of calendar or fiscal year measurement.
e VITARA Electric Vehicle Launch
A significant milestone occurred in August when Prime Minister Narendra Modi inaugurated exports of Maruti Suzuki's first electric vehicle, the e VITARA, to 100 countries. Manufactured exclusively at Suzuki Motor Gujarat, the initial export batches have been shipped from Pipavav port to European markets including the UK, Germany, Norway, France, and Denmark.
The Prime Minister also inaugurated the production of lithium-ion battery cells for strong hybrid electric vehicles, marking India's entry into advanced EV component manufacturing.
India as Global Production Hub
Suzuki envisions India as the company's global production hub, a strategic positioning that could gain additional momentum with the passage of the India-EU Free Trade Agreement (FTA). Such an agreement would potentially establish India as a major export hub for European markets, significantly expanding Maruti Suzuki's international footprint.
Catering to Diverse Customer Segments
Toshihiro Suzuki emphasized that the company will maintain its traditional strength in serving diverse customer segments across India's vast automotive market. The product strategy will carefully balance offerings across categories:
- Entry-level cars for first-time buyers seeking affordable mobility
- Mid-segment vehicles for growing middle-class families
- Large SUVs and MPVs targeting higher-income customers with premium aspirations
This segmented approach ensures Maruti Suzuki maintains relevance across India's diverse economic demographics while pursuing its market share recovery goals.
Impact of Policy Changes
When asked about potential GST reductions on small cars, Suzuki noted that such policy changes would encourage all manufacturers to introduce more affordable models in the market. This could benefit Maruti Suzuki, which has historically dominated the entry-level and compact car segments.
The Road Ahead
Maruti Suzuki's comprehensive strategy—combining aggressive SUV launches, multi-pathway powertrain technologies, massive capacity expansion, and growing export focus—represents the company's most ambitious transformation plan to date. The challenge of regaining 50% market share in an increasingly competitive environment will test the organization's execution capabilities.
With SUVs now representing the most dynamic growth segment in India's automotive market, Maruti Suzuki's plan to launch eight new SUVs addresses a critical portfolio gap. The success of this strategy will largely depend on the company's ability to deliver compelling products that resonate with Indian consumers' evolving preferences for larger, feature-rich vehicles.
The coming five years will be pivotal for Maruti Suzuki as it attempts to reverse its market share decline and reestablish its dominant position in India's passenger vehicle market while simultaneously building its credentials as a global manufacturing and export hub.
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