New Delhi, March 17 Maruti Suzuki India Ltd, the market leader in the car segment, plans to launch seven new SUVs in the next five to six years to strengthen its position in the rapidly growing segment, its Managing Director & CEO, Hisashi Takeuchi, said on Tuesday.
In a presentation to investors, he stated that the company will also introduce an entry-level car "unique to Suzuki" to target first-time buyers in India.
"The share of SUVs in the Indian passenger vehicle market has been growing rapidly. Maruti Suzuki is expanding its SUV offerings to gain market share," Takeuchi said.
He further added, "Seven new SUVs are planned for launch in the next five to six years."
The Indian passenger vehicle market has seen an increase in the proportion of SUVs, which reached 54.7% in 2024 from 26.5% in 2019, he noted.
The market share of Maruti Suzuki India Ltd (MSIL) has increased from 16.8% in FY19-20 to 19.6% in FY25-26 (April 25-February 26), Takeuchi said, adding that this market share gain was driven by several new SUV launches.
The launches include the e-VITARA, Victoris, Jimny, Fronx, Grand Vitara, and a full model change of Brezza over the past four years.
Takeuchi reiterated Suzuki's goal of making India its global manufacturing base for automobiles and motorcycles through the "Make in India" initiative.
As part of Suzuki's India strategy under its mid-term management plan, he said the company will expand its medium and large SUV/MPV lineup to cater to changing customer preferences, while also expanding its mid-SUV lineup.
MSIL will "introduce an entry-level car unique to Suzuki" to target "first-time buyers," he noted.
He expressed optimism about the Indian market, stating that rising income levels will support higher consumption and a significantly larger domestic market.
The company has set a "target of around 4 million units annual production capacity to meet demand in India and expand as a global export hub," he said, adding that it will "monitor market conditions and gradually build a 4 million units per year capacity at the appropriate time."
Takeuchi also noted that the company will adopt a multi-fuel approach, including electric and hybrid, in addition to CNG and biofuel, towards achieving carbon neutrality.