Maruti Suzuki India aims to boost its exports significantly, with plans to surpass 3 lakh units in FY25 and eventually target up to 8 lakh units by 2030. This ambitious goal follows the company’s successful scaling up of exports in recent years, reaching 2.83 lakh units in the fiscal year 2023-24.
According to Rahul Bharti, Executive Director Corporate Affairs at Maruti Suzuki India, the company’s export growth has outpaced industry trends, with a notable 9.3% increase despite a 3% decline in the overall car industry exports. Maruti Suzuki now accounts for 42% of all cars exported from India.
To achieve these targets, Maruti Suzuki plans to introduce more models in its export markets across over 100 countries. Additionally, the company aims to strengthen its distribution network and implement best practices from India, such as offering bank finance at dealerships and enhancing service facilities and parts availability.
In alignment with the Indian government’s vision, Maruti Suzuki’s strategy aims to contribute to India’s export growth and support the nation’s aspiration for increased global trade under the leadership of Prime Minister Narendra Modi.
Maruti Suzuki is gearing up for a significant expansion in its export operations, aiming to surpass 3 lakh units in exports for FY25 and setting an ambitious target of 7.5 lakh to 8 lakh units by 2030. Rahul Bharti, Executive Director Corporate Affairs, expressed confidence in achieving these milestones, highlighting the company’s strategic focus on introducing new models and strengthening its distribution network across the globe.
The company’s export strategy extends beyond its existing models, with plans to commence export of electric vehicles (EVs) to advanced markets like Japan and Europe starting in FY25. Bharti emphasized the importance of leveraging successful practices from India to enhance customer confidence in overseas markets, including offering bank finance at dealerships and ensuring robust after-sales service and parts availability.
Maruti Suzuki’s robust export performance is evident from its record exports of 2,83,067 units in FY24, marking a significant increase from previous years. This growth trajectory underscores the company’s commitment to expanding its global footprint and capturing a larger share of international markets.
Key export markets for Maruti Suzuki include South Africa, Saudi Arabia, Chile, Mexico, the Philippines, Indonesia, and Ivory Coast. The company’s top export models include Baleno, Dzire, Swift, S Presso, Grand Vitara, Jimny, Celerio, and Ertiga, reflecting the diverse demand across different regions.
Sources: moneycontrol.com