Maruti Suzuki Achieves 3 Million Car Exports Milestone

Maruti Suzuki India (MSIL) has achieved a significant milestone by exporting 3 million cars from India, primarily to Latin America, Africa, Asia, and the Middle East markets.

Strong Export Growth in FY24

In the April-October period of this financial year, MSIL’s car exports grew by 17.4% year-on-year (Y-o-Y), with 181,444 units shipped. This stands in contrast to a weaker performance in the domestic market.

Global Reach and Success

Currently, MSIL exports 17 car models to nearly 100 countries. The company claims a 40% share of India’s passenger vehicle exports, making it the top vehicle exporter in the country. Hisashi Takeuchi, MD & CEO of MSIL, emphasised the company’s commitment to localisation and increasing exports, attributing their success to the global demand for MSIL’s vehicles known for quality, safety, and advanced technology.

Rapid Export Growth

MSIL began its export journey in 1986 and reached the 1 million milestone by 2012-13. It took only 3 years and 9 months to go from 2 million to 3 million exports. Despite a relatively slow domestic market, exports continue to rise, with the passenger vehicle export market growing by 9.74% Y-o-Y.

About Maruti Suzuki

The company was founded in 1981, with a joint venture agreement signed between the Government of India and Suzuki Motor Corporation (SMC) of Japan in 1982. It became a subsidiary of SMC in 2002. The company is the leader in the passenger vehicle market in India and, in terms of production and sales, is now the largest subsidiary of SMC. SMC holds a 56.28% equity stake in the company. Its main activities include manufacturing, purchasing, and selling motor vehicles, components, and spare parts.

Maruti Suzuki India share price is currently trading at ₹11,008.00, down by ₹17.15 or 0.16% as of 9:51 AM on November 26. The stock opened at ₹11,025.15, reached a high of ₹11,077.95, and a low of ₹10,981.40 during the session.

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