India is the single-largest market for the Suzuki Motor Corporation.
The Suzuki Motor Corporation (SMC) has set a goal to sell 3 million passenger vehicles in the country by 2030. The carmaker has also committed to doubling its manufacturing capacity to 4 million units within the next 10 years.
India’s passenger vehicle market is estimated to grow from over 4 million units in 2023-24 to 6 million units by 2030. By the end of this decade, Maruti Suzuki aims to increase its market share from the current 42% to 50%. The carmaker expects EVs to make up 15% of its total sales.
Unlike other domestic brands that are focused on bringing EVs into the market, Maruti Suzuki is betting big on hybrid vehicles. The company expects hybrid to account for a quarter of its sales by the end of this decade. It also has the highest market share for CNG passenger vehicles at 74%.
India is the single-largest market for the Suzuki Motor Corporation. In FY2021-22, India contributed 39% of SMC’s total global revenue at 1,788 billion yen, surpassing Japan’s 1,212 billion yen, while other global markets in Asia, Europe and America contributed 1,641 billion yen.
Source: ET Auto
Source: Read Full Article