Sun, August 09, 2026
India’s passenger car market is expected to expand to around **6.1-6.3 million units by FY2030-31**, with the small-car segment likely to grow at a significantly faster pace than it did over the past five years, Maruti Suzuki India Chairman RC Bhargava said on Sunday.
Bhargava said the recent GST reforms have provided fresh momentum not only to the automobile sector but also to several other parts of the economy.
“We are in the process of making as accurate an estimate as possible of the likely growth of the car market in the next five years,” he said.
Maruti Suzuki India has released its **Annual Integrated Report 2025-26**, highlighting the revival of the small-car segment, the expansion of its SUV lineup, a multi-powertrain strategy, increased manufacturing capacity and strong export performance as key drivers of future growth.
The automaker recorded its **highest-ever annual sales of 24.22 lakh vehicles** in FY2025-26, while exports reached a record **4.47 lakh units**.
Having crossed the two-million-vehicle annual sales mark for the third consecutive year, Maruti Suzuki said it is confident of reaching its next million-vehicle milestone sooner than previously expected, with major growth drivers now in place.
Maruti Suzuki India Managing Director and CEO Hisashi Takeuchi said the company has also stepped up its capacity expansion plans.
“During FY2026-27, we added 500,000 units of manufacturing capacity,” Takeuchi said.
He added that customer preferences are changing rapidly and the company plans to introduce **seven new SUVs over the next five to six years** to further strengthen its presence in the segment.
As India works towards its goal of becoming a developed nation by 2047, Takeuchi said the automobile industry has both an opportunity and a responsibility to contribute to that journey.
He said Maruti Suzuki would continue to support India's aspirations through manufacturing, exports, technology development, employment generation, skill development and sustainable mobility.
“The next million sales of vehicles represent far more than a volume milestone,” Takeuchi said.
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