Maruti Suzuki Aims to make up lost ground with Record 2 Million Vehicle Production Target
Revving up to regain the lead! Maruti Suzuki targets record 2 million vehicle production this fiscal year. Read on to know more.
Arun Kundu
In order to catch up in the quickly growing market and make up the ground it lost to rivals the previous fiscal year, Maruti Suzuki, the nation's largest automaker by local unit sales, plans to produce a record 2.2 million passenger cars, utility vehicles, and SUVs this fiscal year.
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The market leader in cars has increased production due to a healthy order book and a positive response to the new models. According to the plans, current volume growth should be about 12%. The Japanese automaker would experience double-digit production growth for the third consecutive year if it were to produce at the anticipated levels.
In addition, Maruti expects to ship 2.1 million units in FY24 as opposed to 1.96 million units in FY23. Also included in this are the 279,000 units exported. This would assist the business in achieving its goal of volume growth which is twice the industry average.
Senior executive officer of sales and marketing at Maruti, Shashank Srivastava, declined to comment on the production target but reiterated that the company is anticipated to outperform the industry.
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"Our mentioned position is that Maruti will expand much faster due to the new SUV launches - Fronx and Jimny - even though the industry is likely to grow 5-7% to 4.05 million units to 4.1 million units. Additionally, this will be the Grand Vitara's first full year of sales," he added.
