Suzuki Motor plans to launch eight new sport utility vehicles in India over the next five to six years. The company aims to regain market share that has been lost to strong competition. This was announced by the company’s president Toshihiro Suzuki on Wednesday.
Suzuki wants to increase its share of the Indian market from the current 38 per cent to around 50 per cent. This was the company’s share before the pandemic. Toshihiro Suzuki said competition is now the toughest it has been since Suzuki began operating in India forty years ago.
He said, “India is Suzuki’s most critical market and we have big plans for India.” He made this statement at the Japan Mobility Show in Tokyo. Suzuki wants to remain the top exporter of cars from India. The company also wants to become the biggest seller of electric cars in the country.
The plan to add eight new SUVs will increase company’s product portfolio in India to 28 models. Toshihiro Suzuki said the company is introducing products and technologies that match the aspirations of Indian customers. This includes everything from entry level cars to large SUVs and MPVs.
He mentioned that company will introduce multiple powertrain options in India. These include hybrid vehicles and cars powered by compressed natural gas and biogas. However, he did not mention a specific timeline to achieve these goals.
Maruti Suzuki is still India’s largest carmaker. However, it has lost some market share to rivals such as Mahindra and Tata Motors. To strengthen its position, company announced a plan in August to invest 8 billion dollars in India. This doubles an earlier investment commitment made this year.
The money will be used to increase production capacity in India to 4 million units per year. The current capacity is about 2.5 million units. One quarter of the output from this expanded capacity will be exported to other markets.
Toshihiro Suzuki said, “We would like to grow India as Suzuki’s global production hub.”
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