Maruti Suzuki is looking at launching 10 new cars by 2030, which will include half a dozen electric cars too. The automaker has also revealed its plan to increase production and sales volume under the Maruti 3.0 strategy. Under this plan, the auto manufacturer also aims to double the total sales to 40 lakh units per annum by 2032, reveals a PTI report. Maruti Suzuki’s chairman R C Bhargava has reportedly said that the company aims to have 28 models in its portfolio but FY31 from the current 18 models.
The report has stated that Maruti Suzuki is now restructuring its production facilities to conform to the realities and future under the Maruti 3.0 plan. This plan includes an increased focus on SUVs and crossovers, as the auto company has been tasting success in the segment over the last few years with a wide range of products. On the other hand, the traditional strong point of Maruti Suzuki, small cars have witnessed declining sales numbers. This trend has compelled Maruti Suzuki to rethink its product strategy, where utility vehicles such as SUVs and MPVs will get more attention over the small hatchbacks, reveals the report. “Maruti Suzuki has four very well-accepted SUVs in the market and we are on our way to assume leadership in this segment. We will gradually keep increasing our market share that had declined in the last two or three years,” Bhargava said.
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Bhargava said that while the Indian car industry is not expected to grow in double digits, like what happened in China in the past, the company expects that a six per cent growth rate will be maintained till FY 2030-31. He highlighted the steps being taken by the company to meet future demand. “What is now being planned can be said to be the start of ‘Maruti 3.0’. Our first phase was when we were a public enterprise. The second phase ended with the Covid pandemic, and the Indian car market became the third largest in the world. The challenges before the company are unprecedented,” said Bhargava.
Just a few days ago, Maruti Suzuki revealed that it will acquire the Suzuki Motor Corporation’s Gujarat plant wholly. Maruti Suzuki India’s chairman has hinted that this plant will play a crucial role in the production volume enhancement strategy. “It took us 40 years to create a capacity of 2 million units and SMC (Suzuki Motor Corporation) helped in this process by establishing the Gujarat facility. Your company now has to add the next 2 million in a period of 9 years,” he said addressing the company’s shareholders, also adding, “Work is progressing at the first site in Kharkhoda, Haryana, and it is expected that the first plant of 250,000 capacity will start production in the first half of 2025. Thereafter, one similar plant will be added each year to reach a capacity of one million. At the same time, we are in the process of selecting a second site for adding another one million capacity by FY 2030-31.”
However, producing 40 lakh cars per annum is not the only benchmark Maruti Suzuki is aiming to reach. The automaker may increase production further in the subsequent years.
First Published Date: 06 Aug 2023, 10:50 AM IST
