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New Delhi, Feb 20 (PTI) Suzuki Motor Corporation aims to introduce more SUV and MPV models in India along with new entry-level products that meet customer preference as it looks to regain 50 per cent market share in the Indian passenger vehicle segment by FY30.
According to its new mid-term management plan (FY2025-FY2030), the Japanese automaker said it plans to expand business in the Middle East and Africa markets, which have huge growth potential, by supplying products from India.
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Elaborating on the Indian market strategy, the company, which has a 58.19 per cent stake in Maruti Suzuki India (MSI), aims to strengthen product capabilities and lineup in the SUV and MPV segments and “rapidly develop and introduce entry segment products that meet the preferences of entry-model customers.”
Suzuki said it aims to reclaim 50 per cent share as the market leader in the Indian automobile industry.
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Maruti Suzuki India’s market share in the domestic passenger vehicle segment currently stands at around 41 per cent.
Suzuki also expects MSI’s annual production capacity to touch four million units in order to meet demand in India and expand as global exports hub.
It also aims to be a leading player in terms of production, exports and sales of battery electric vehicles (BEVs) in the country.
Maruti Suzuki has unveiled e VITARA last month which would be sold both in domestic and export markets.
The company said it plans to expand BEV lineup starting with e VITARA, aiming to launch four models by FY2030.
Suzuki aims for proactive investment into charging infrastructure for BEV popularisation in India, it added.
Terming, India as the most important market, the company said it expects it to continue growing and serve as the engine for Suzuki’s future growth.
The competitive environment is becoming increasingly severe, and the quality of product functions, equipment and services required by customers is increasing, it noted.
Through, Maruti Suzuki India, the company said it aims to introduce models with multiple powertrains which are best suited to local conditions for each region in India.
The Japanese automaker is also looking to operate a biogas plant to produce biogas from cow dung/paddy straw and use the produced gas as fuel for CNG vehicles, it said.
The project aims to reduce greenhouse gas emissions and contribute to the energy self-sufficiency and circular economy of rural India, it noted.
Suzuki also aims to improve Maruti Suzuki’s product planning and development capabilities to develop and introduce products that better match the preferences of Indian customers in a timely manner, it noted.
Besides, in order to respond to growing domestic demand in India and to play a role as a global export hub, it plans to expand its supply chain and production capacity.
It plans to monitor market conditions and gradually build four million units per year capacity at the appropriate time, it added.
On collaboration with Toyota, Suzuki said the companies will continue to work together as equal partners while remaining competitors who inspire each other.
Through this collaboration, the two companies aim to realise a carbon-neutral society through multi-pathway cooperation and continue to grow, it added.
Globally, it aims to grow with stakeholders to achieve an operating profit margin of 10 per cent or more and ROE of 15 per cent or more by the first half of the 2030s, it said.
It aims to achieve revenue of 8 trillion yen, an operating profit of 800 billion yen, with an operating profit margin of 10 per cent and a Return On Equity (ROE) of 13 per cent by FY2030, it added.
(This is an unedited and auto-generated story from Syndicated News feed, Pune Media Staff may not have modified or edited the content body)
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