Maruti Suzuki Plans to Launch 10 New Cars by 2030, Including Electric Models

Maruti Suzuki, the leading automaker in India, has announced its ambitious plans to introduce 10 new cars by 2030, with a focus on electric vehicles. As part of its Maruti 3.0 strategy, the company aims to double its total sales to 4 million units per year by 2032. Currently, Maruti Suzuki has 18 models in its portfolio and plans to expand it to 28 models by FY2031.

Maruti 3.0 Strategy to Focus on SUVs and Crossovers

Under the Maruti 3.0 strategy, the company will prioritize SUVs and crossovers, as these segments have shown significant growth in recent years. Maruti Suzuki has already made a strong entry into the SUV market and intends to strengthen its product strategy by shifting focus from small hatchbacks to utility vehicles. With four successful SUV models in its lineup, Maruti Suzuki aims to further increase its market share in this segment.

Steady Growth Rate of 6% Expected Until 2030-31

Maruti Suzuki Chairman RC Bhargava stated that the Indian car industry is not expected to achieve double-digit growth rates like China in the past. Instead, the company aims to maintain a steady growth rate of 6% until FY2030-31. Bhargava emphasized the steps being taken by Maruti Suzuki to meet future demand and referred to these plans as the beginning of Maruti 3.0. He also highlighted that India has become the third-largest car market globally.

Acquisition of Gujarat Plant to Increase Production Volumes

In a recent announcement, Maruti Suzuki revealed its intention to fully acquire the Gujarat plant of Suzuki Motor Corporation. This acquisition is expected to play a crucial role in the company’s strategy to increase production volumes. Bhargava acknowledged the contribution of the Gujarat plant in expanding Maruti Suzuki’s manufacturing capacity, which has taken 40 years to reach 2 million units.

Expansion Plans and Production Targets

Maruti Suzuki is actively working on its expansion plans, including the construction of a new plant in Kharkhoda, Haryana. The first plant, with a capacity of 250,000 units, is scheduled to begin production in the first half of 2025. Another plant with a similar capacity will follow, and the company is currently evaluating potential sites for an additional million-unit capacity by FY2030-31. Maruti Suzuki aims to produce 4 million cars per year, but it is expected to further increase production in the coming years.

Summary:

  • Maruti Suzuki plans to launch 10 new cars by 2030, including electric models.
  • The company aims to double its total sales to 4 million units per year by 2032.
  • Maruti Suzuki intends to focus on SUVs and crossovers under its Maruti 3.0 strategy.
  • A growth rate of 6% is expected until FY2030-31, as per Chairman RC Bhargava.
  • Maruti Suzuki will fully acquire the Gujarat plant to increase production volumes.
  • The company is expanding its manufacturing capacity and aims to produce 4 million cars per year.

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