Indian car industry likely to reach 6.1-6.3 million units by FY31: Maruti Suzuki India Chairman
New Delhi, Aug 9
The Indian car industry is projected to grow to 6.1 to 6.3 million units by FY2030-31 and the share of the small car market would grow significantly faster than its pace of growth in the last five years, RC Bhargava, Chairman, Maruti Suzuki India Limited, said on Sunday.
Bhargava said that GST reforms have given a new impetus not only to the automobile industry but to several sectors of the economy and "We are in the process of making as accurate an estimate as possible of the likely growth of the car market in the next five years".
Maruti Suzuki India has released its 'Annual Integrated Report 2025-26', which highlights how the revival of the small car segment, the strengthening of the company's SUV portfolio, its multi-powertrain strategy, focus on capacity expansion and robust export performance have created fresh momentum for growth.
The automaker registered its highest-ever annual sales of 24.22 lakh vehicles and record exports of 4.47 lakh vehicles in FY 2025-26.
Having achieved the 2 million sales mark for the third consecutive year, the company, supported by all the key growth drivers in place, is optimistic about reaching its next million-vehicle milestone earlier than anticipated, according to a statement.
Hisashi Takeuchi, Managing Director and CEO, Maruti Suzuki India Ltd, said that "we accelerated our capacity expansion plans. During FY2026-27, we added 500,000 units of manufacturing capacity".
"Customer expectations continue to evolve rapidly. The company has plans to introduce 7 SUVs in the next 5 to 6 years to further strengthen SUV portfolio," Takeuchi informed.
As India progresses towards becoming a developed nation by 2047, the automobile industry has both a responsibility and an opportunity to contribute meaningfully to this journey.
"Through manufacturing, exports, technology development, employment generation, skill creation and sustainable mobility, Maruti Suzuki remains committed to supporting India's aspirations. The next million sales of vehicles represent far more than a volume milestone," he mentioned.
— IANS
Reader Comments
Impressive numbers, but I wish they'd also focus on electric vehicles more aggressively. The future is electric and if India wants to lead, we need more affordable EVs. Maruti's hybrid strategy is good, but is it enough to compete with Tata and Mahindra in the EV space? Just thinking out loud! ⚡
As someone who recently bought a Maruti Brezza, I'm happy to hear about their growth plans. The service network is unmatched and reliability is top-notch. But 7 new SUVs in 6 years sounds like a lot - are they diluting the brand or genuinely expanding? Hope they don't forget their core strength in small cars!
The export numbers are really encouraging - 4.47 lakh vehicles is no small feat! Proud to see Indian manufacturing getting global recognition. With the government's production-linked incentive scheme, we can definitely achieve these targets. Jai Hind! 🇮🇳
I appreciate the optimism, but the ground reality is different in tier-2 and tier-3 cities. With GST changes and semiconductor issues, many dealerships are still recovering. The focus should also be on rural markets where the two-wheeler to four-wheeler upgrade is still a huge leap for most families. Let's see how inclusive this growth actually is.
RC Bhargava is a legend in the Indian auto industry - if he says it, it's worth taking seriously. The man has seen it all since the Maruti 800 days. 6 million units by 2031 is ambitious but achievable if the economy stays
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