Suzuki predicts India market to expand 2% in FY25, Maruti to outpace industry growth
economictimes.indiatimes.comSuzuki Motor Corp expects car sales in India to grow 2% in the ongoing financial year and its local subsidiary, Maruti Suzuki, to perform better than the market, helping it recover lost market share in the country.
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India is a bright spot for the Japanese auto giant, accounting for as much as 89% of the incremental volume of 168,000 units sold by Suzuki globally in the last fiscal year. While sales fell in several key markets – by 56.5% in Pakistan, 13.3% in Indonesia, 38.5% in Thailand, 9.8% in Latin America and 14.8% in Africa – the Indian subsidiary posted a 9% increase in volume at 1.79 million units in fiscal 2024. With this, Maruti Suzuki accounted for 56.6% of the 3.17 million cars sold by the automaker globally.
The company’s sales in Asia (excluding India) dropped 31.2% to 178,000 units, primarily due to restrictions on imports in Pakistan due to a shortage in foreign currency. Forex restrictions in Africa too hurt imports into the continent, Suzuki said in an investor presentation Monday.
However, sales rose in the home market of Japan and Europe, but on a low base.
While sales in Japan rose by 7.5% to 674,000 units, those in Europe grew 37.9% to 236,000 units.
Suzuki, in the investor presentation that ET has seen, said it expects Maruti Suzuki to outperform the market this fiscal year, driven by new model launches and increase in production of CNG-run vehicles which were in short supply last financial year.
The company plans to expand
