Maruti Suzuki India expects the domestic passenger vehicle market to reach between 6.1 million and 6.3 million units by FY 2030-31.
According to chairman RC Bhargava, the growth will be driven by renewed small car demand and a stronger SUV line-up.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
He said: “Presently, we are estimating that the car industry would grow to 6.1 to 6.3 million units by FY 2030-31 and that the share of the small car market would grow significantly faster than its pace of growth in the last five years.”
Separately, the company’s board has approved an initial outlay of Rs5.61bn ($58.8m) to set up four biogas plants, part of its broader clean-energy strategy.
Bhargava said biogas could reduce dependence on imported compressed natural gas while contributing to India’s net-zero goals.
“In India we need to use multiple technologies to achieve our goal of moving to net zero. We strongly believe that biogas can be generated in large quantities from locally available resources. This form of energy would substitute for imported CNG and be clean and renewable with zero import content”, Bhargava added.
Titled “The Next Million, New Momentum”, the annual integrated report 2025-26 points to several growth drivers converging simultaneously to carry the company into its next phase of expansion.
These include the small-car segment’s recovery, a bolstered SUV lineup, a multi-powertrain strategy, added manufacturing capacity and robust export performance.
Maruti sold 2.42 million vehicles during FY 2025-26 and exported 447,000 units, both record highs for the company.
Having surpassed two million in annual sales for a third consecutive year, Maruti said its growth drivers are now sufficiently established that it expects to hit its next million-unit milestone earlier than previously projected.
Maruti Suzuki managing director and CEO Hisashi Takeuchi said the company plans to launch seven new SUV models over the next five years to strengthen its foothold in a segment he described as continuing to expand rapidly.
Manufacturing capacity rose by 500,000 units during FY27 as part of the company’s wider capacity-expansion drive.
In June, Maruti Suzuki India launched the Wagon R FFV, the first Suzuki model built to run on any combination of ethanol and petrol.
For the quarter ended 30 June 2026, the company reported a standalone net profit of Rs33.52bn, down from Rs37.58bn in the corresponding period a year earlier, even as net sales rose 36% to Rs499.59bn.
