Maruti Suzuki sets ambitious export targets, aims to ship 8 Lakh by 2030; Here's how

Maruti Suzuki India has set its sights on a substantial increase in exports for the current financial year.

Author
Mayank Kasyap
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New Delhi: Maruti Suzuki, a leading name in the Indian automotive industry, is gearing up to expand its global footprint by ramping up its export operations. The company has outlined ambitious targets to significantly boost its exports over the next few years.

Targeted export expansion

Maruti Suzuki India has set its sights on a substantial increase in exports for the current financial year. The renowned automaker, renowned for its dominance in the Indian passenger vehicle market, is aiming to export 3 lakh units of vehicles manufactured in India to international markets. Furthermore, the company aims to escalate this figure to a remarkable 8 lakh units by the end of the decade.

Maruti Suzuki's expansion strategies

Rahul Bharti, the executive director of corporate affairs at Maruti Suzuki India, revealed that the company plans to introduce a wider range of passenger vehicle models in its export markets, spanning across more than 100 countries globally. Additionally, Maruti Suzuki intends to bolster its distribution network, leveraging its extensive 40-year experience in the Indian market to drive this expansion strategy forward.

Steady growth trajectory

Bharti highlighted Maruti Suzuki's impressive export growth trajectory over the past few years. Just three years ago, the company's annual exports ranged from one to 1.2 lakh units. However, Maruti Suzuki made a strategic decision to substantially scale up its export volumes. This resulted in exports reaching 2.59 lakh units in 2022-23 and further growing to 2.83 lakh units in 2023-24, despite a 3 per cent decline in the overall automotive industry exports. Notably, Maruti Suzuki's exports constituted 42 per cent of the total cars exported from India.

Future outlook

Looking ahead, Maruti Suzuki remains optimistic about the continued growth of its export numbers. The company has set an ambitious target of exporting 7.5 to 8 lakh units annually by 2030. Bharti emphasized that expanding the export portfolio to include more models across a broader spectrum of countries will be pivotal in achieving this objective.

With its unwavering commitment to quality and innovation, Maruti Suzuki is poised to strengthen its position as a global automotive powerhouse. By setting ambitious export targets and implementing strategic expansion initiatives, the company aims to further solidify its presence in international markets.