Suzuki Targets 4.2 Million Global Sales By 2029; Focus On India

Japanese automaker Suzuki Motor aims to achieve global sales of 4.2 million vehicles within the next five years, marking a nearly 30% increase, with India playing a central role in its expansion.

The company expects India to account for 60% of its total sales and receive the same share of its planned 2 trillion yen ($13 billion) investment by the 2030 financial year.

To support this growth, Suzuki plans to enhance manufacturing capacity in India to meet rising local demand while also strengthening the country’s position as an export hub for Africa and the Middle East.

President Toshihiro Suzuki during a strategy briefing in Tokyo stated, “India is Suzuki’s most important market where we are putting the most effort.”

Having invested in India since the early 1980s, Suzuki maintains a dominant position through Maruti Suzuki, which holds around 40% of the country’s car market.

However, the company has revised its electric vehicle strategy for India, now planning to introduce four battery electric models by fiscal 2030 instead of the previously announced six.

Suzuki is also aiming to achieve an operating profit margin of at least 10% by 2030, up from 9.2% in the last financial year.

Additionally, it targets a return on equity of 15%, an increase from 12.6%.

The automaker has set a revenue goal of 8 trillion yen by the 2030 financial year, reflecting a 49% rise.

Also Read: Apple Expands Local Production; Assembles Entire iPhone 16 Series In India