Maruti Suzuki retains top car exporter title in FY2023, exports surpass 2.5 million units
Landmark achievement comes 36 years after it began overseas shipments; with a lead of 83,991 units over Hyundai in first 11 months of FY2023, Maruti Suzuki retains India’s No 1 PV exporter crown for second year in a row.
Maruti Suzuki India has announced that it has surpassed the cumulative export milestone of 2.5 million vehicles. The landmark achievement comes 36 years after the company began shipping its made-in-India passenger vehicles in FY1987.
The first big consignment of 500 cars was shipped to Hungary in September 1987, followed by exports to neighbouring markets like Bangladesh and Nepal. With support from parent company Suzuki Motor Corporation, the company has gradually expanded its presence to other countries and now Maruti Suzuki exports its passenger vehicles to nearly 100 countries. Key export markets for India’s PV market leader are Africa, Latin America, Asia and the Middle East.
The company exports 17 models with the Grand Vitara being the latest to join the export portfolio. The first lot of Grand Vitaras was shipped to Latin America from Kamarajar Port (erstwhile Ennore Port) in January 2023. The company plans to export the Grand Vitara to over 60 countries across Latin America, Africa, Middle East, ASEAN and neighbouring regions. At present, the Maruti Suzuki models with the highest export demand are the Dzire sedan, the Swift, S-Presso and Baleno hatchbacks, and the Brezza SUV.
India’s top car exporter for second year running
India’s passenger vehicle market leader has maintained a strong export performance over the past three years, which is reflected in its export market domination. In CY2022, Maruti Suzuki India achieved its best-ever overseas shipments in a calendar year: 263,068 units, up 28% (CY2021: 205,450 units), surpassing the 200,000-units mark for the second consecutive year.
Now, it has retained its position as India’s No. 1 car exporter for the second year in a row. With two days left for FY2023 to come to a close and March 2023 exports numbers yet to be revealed, Maruti Suzuki is clearly the PV export leader for the second year running. At 226,110 units in the April 2022 to February 2023 period – is 96% of its FY2022’s total exports of 235,670 units – the company is 83,991 units ahead of Hyundai Motor India, which has shipped 142,119 units in the first 11 months of FY2023.
In FY2022, with 235,670 cars exported, Maruti Suzuki had wrested the PV exporter crown from Hyundai (FY2022: 129,260), having missed the FY2021 title by 9,404 units – 94,938 units to Hyundai India’s 104,342 units.
Speaking on the 2.5 million exports milestone, Hisashi Takeuchi, MD and CEO, Maruti Suzuki India said: “The landmark export of 2.5 million vehicles stands as a testimony to India’s manufacturing prowess. This feat demonstrates Maruti Suzuki’s resolute commitment to the government of India’s flagship Make-in-India initiative, and furthering government’s efforts to enhance vehicle exports. This was possible because of the strong support of our parent company, Suzuki Motor Corporation, who not only provided strong technological support but also helped us leverage their vast global network to achieve this milestone.”
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