With its strong portfolio and burgeoning production capacity, Maruti Suzuki India has not only delivered a handsome performance in the domestic market in FY24, but it has also led the export chart this fiscal.
The domestic passenger vehicle (PV) volume of Maruti has jumped 9.03% year-on-year (y-o-y) at 1,607,163 units in April-February FY24 from 1,474,107 units during the year-ago period, according to data from the industry body Society of Indian Automobile Manufacturers (SIAM).
Also, the carmaker’s exports have grown 12.84% y-o-y at 255,150 units during the period from April to February of the current fiscal, in comparison to 226,110 units shipped in the same period of the previous fiscal.
Maruti’s versatile PV portfolio includes hatchbacks, sedans, MPVs, SUVs and even a van. It sells models like the Ignis, Baleno, Ciaz, Fronx, Jimny, Grand Vitara, XL6 and Invicto from its Nexa dealerships. Its Arena dealerships offer the Alto K10, S-Presso, Eeco, Celerio, WagonR, Swift, Dzire, Brezza and Ertiga. The company will launch its maiden electric model, the eVX electric SUV, in FY25.
The carmaker currently
export 17modelsto nearly 100 countries across Africa, Latin America, Asia and the Middle East. Its exports have zoomed on the back of the addition of more models and support from the parent firm, Suzuki Motor Corporation, which enabled the Brezza-maker to leverage a wider distribution network across the globe.
Maruti currently has three plants, one each in Manesar (Haryana) and Gurugram (Haryana), and Suzuki Motor Gujarat, with a combined annual installed production capacity of 2,250,000 units. The capacity is 800,000 units at the Manesar plant, 700,000 units at the Gurugram plant, and 750,000 units at the Suzuki Motor Gujarat plant.
The company’s third plant in Haryana is coming up in Kharkhoda. It will become operational next year with a capacity of 250,000 units, which will be enhanced to 1,000,000 units afterwards.
In January this year, Maruti announced that it would establish a fourth production line at its wholly-owned Suzuki Motor Gujarat (SMG) plant. To become operational by FY27, the new line will further boost the capacity by 250,000 units.
Besides, the carmaker will also set up a new plant in gujwat. While operations at this plant will commence in FY29, it will reach a capacity of 1,000,000 units subsequently.
Maruti is planning to achieve an annual installed production capacity of approximately 4,000,000 units in India by FY31 as the demand for PVs rises.