Maruti Sees India’s Auto Market Reaching 6.3 Million Units by 2031
Maruti Suzuki India expects the country’s passenger vehicle market to grow to 6.1 million–6.3 million units by fiscal 2030-31, driven by a recovery in demand for small cars and continued growth in the SUV segment. The automaker is reassessing its five-year growth targets as it anticipates stronger expansion in the small-car market.
The company reported record sales of 2.42 million vehicles in FY26, including an all-time high of 447,000 exports. Maruti plans to invest around ₹350 billion ($4 billion) to increase annual production capacity to 3.65 million vehicles by FY31. It also plans to launch seven new SUVs over the next five to six years to strengthen its position in the growing segment.
Maruti is also focusing on localisation, alternative sourcing and supplier development to manage geopolitical and supply-chain risks. Its board has approved an initial ₹5.61 billion investment in four biogas plants, aimed at reducing reliance on imported compressed natural gas and supporting India’s net-zero ambitions.
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