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India will be largest manufacturing hub for global exports including EVs: Suzuki
Suzuki Motor Company (Japan) on Thursday said its Indian subsidiary will be the largest manufacturing hub for global exports—for both internal combustion engine (ICE) vehicles and electric cars. The company does not see any threat from competitors, including its partner as well as rival Toyota Motor, in its aim to achieve 50 per cent market share.
Toshihiro Suzuki, Representative Director and President, Suzuki Motor Corporation (SMC) told reporters here that the company will also be launching affordable small electric vehicles (EVs) in future as India still has a big potential for the small cars with more than one-billion two-wheeler customers likely to upgrade to a small car.
“India is now the third largest automobile market in the world, hence the entire world is looking at it. So, naturally the competition is getting intense/ tougher, but Maruti Suzuki India (MSIL) would like to respond with products, services, and marketing. By making efforts in these areas, we would like to expand our market share to 50 per cent,” Suzuki said to a query by businessline.
Market share
In CY24, MSIL had a market share of 40.26 per cent in retail sales against 40.85 per cent in CY23. In FY20, the company had a market share of 51 per cent.
He said since other automobile manufacturers are getting competitive, SMC and MSIL will “hold our hands tightly.” “That is how we will sustain and maintain our market share,” he added.
When asked about any threat from other Japanese rivals like the partnership between Nissan and Honda, Suzuki said their partnerships are still nascent and their future plans still not known.
Launching more SUVs
In terms of competition in other segments, Suzuki said since the Indian market is attracted to sports utility vehicles (SUVs) right now, the company will be launching more SUVs with an aim to lead in the SUVs segment too.
“Our first priority is to get to the top market share in SUVs segment by introducing more models in future. We would like to expand our market share in various segments like hybrid, CNG and hydrogen by launching such models,” Suzuki said. In the SUV segment, Mahindra & Mahindra is the market leader with 23.2 per cent market share between April and December 2024 sales, followed by MSIL with 2O percent market share.
MSIL will be unveiling the e Vitara electric vehicle on Friday at the Bharat Mobility Global Expo 2025. Apart from catering to the domestic market here, the company will also export the e Vitara and future EVs to global markets like Europe, Japan, the West Asia and Africa, Central and South America and Asian countries, he said.
The company resumed exports to Japan last year with Fronx and there is a pending order of 15,000 units and currently the model is exported to over 70 countries from India, he informed. In 2024, the company achieved exports of 3.26 lakh units, which was the highest-ever irrespective of calendar or fiscal year.
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Published on January 16, 2025
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