Maruti Suzuki is recalibrating its production and sales projections for FY31, taking into account GST-led demand recovery and robust export growth.Maruti Suzuki India is eyeing a double-digit growth in exports this financial year (FY26), aiming to ship over 4 lakh units on the back of newer markets and supply-chain stability. In the first half of this fiscal, the country’s largest car exporter dispatched over 2 lakh units.
“Exports continue to be a strong pillar for us… India is becoming a key manufacturing hub for compact cars,” R C Bhargava, non- executive chairman, Maruti Suzuki India, at the Q2 post-earnings call.
The automaker’s exports rose 42.2 per cent year-on-year to a record 1,10,487 units in the quarter ended September 30, even as domestic wholesales declined 5.1 per cent to 4,40,387 units during the same period.
On the domestic front, Maruti Suzuki reported signs of recovery in the entry-level segment following the recent GST reduction, indicating a broader shift in consumer preference across body types.
Over the last few years, small cars have come under pressure due to strong consumer shift towards SUVs. The GST reduction on small cars, which was Maruti’s long-pending demand, is expected to give a fillip to the segment.
“As small cars recover post-GST, there could be a slight change in the mix, but the overall portfolio remains healthy and balanced,” Bhargava said.
The company is recalibrating its production and sales projections for FY31, taking into account GST-led demand recovery and robust export growth.
To address the rising demand, the carmaker is in the final stages of announcing a new manufacturing plant, with details expected in the coming months. The company is also implementing a flexible production strategy at its existing facilities.
“The first line at Kharkhoda is fully operational. The second line will be commissioned in the first few months of the next financial year,” Bhargava added.
Strong overseas presence
Maruti Suzuki currently exports to over 100 countries and has recently begun exporting the Grand Vitara. It has shipped more than 7,000 units of the model so far, with strong demand coming from the UK market.
Key export destinations for the automajor include Africa, Latin America and the Middle East. The New Delhi-based carmaker accounts for nearly 40 per cent of India’s total passenger vehicle exports.
Going forward, Maruti Suzuki expects structural tailwinds for first-time buyers and sustained demand in the entry-level segment in the second half of FY26, aided by festive momentum and GST rate cut.
Models such as the Baleno, Swift and Dzire currently have a waiting period of two to three weeks, reflecting strong demand after the GST rate cut, said Partho Banerjee, Senior Executive Officer – Marketing and Sales, Maruti Suzuki India.
