Maruti Suzuki targets doubling its turnover in the decade through 2031

economictimes.indiatimes.com:

Maruti Suzuki is targeting doubling its turnover in the decade through 2031 and, to achieve this, will invest heavily in new technologies, bring on road more products including half a dozen electric vehicles and increase the production capacity, managing director Hisashi Takeuchi said. The country’s largest carmaker will be taking some “mega steps” over the next few years to strengthen its leadership in the Indian market, Takeuchi said. “Looking at the immense potential of the Indian automobile market, our parent company, Suzuki Motor Corp (SMC), has outlined a robust growth plan.

Our parent company is targeting doubling turnover by FY31. India will play a very big role in realising this goal,” Takeuchi said, adding the Indian subsidiary too would be aiming at doubling revenue in this period. Takeuchi was speaking on the sidelines of the launch of its premium multipurpose vehicle Invicto, priced Rs 24.79-28.42 lakh.

The company, which is sourcing the vehicle from global alliance partner Toyota, has so far received 6,200 orders for the Invicto. As per its growth strategy through the decade to 2031, SMC is targeting to achieve a global turnover of Rs 4.32 lakh crore, compared with Rs 2.16 lakh crore in FY22. To realise this objective, Suzuki has planned investment of Rs 2.8 lakh crore by FY31, which will be utilised for enhancing the product portfolio, bringing new technologies and setting up new manufacturing facilities.