Maruti Suzuki Targets 6.3M Indian Car Market by 2031

India's top car manufacturer, Maruti Suzuki India, is gearing up for significant expansion, committing approximately 350 billion rupees ($4 billion) to increase its annual manufacturing capacity to 3.65 million vehicles by fiscal year 2030-31. The capital expenditure plan aligns with the automaker's projections of robust domestic market growth over the coming decade.

According to figures highlighted in the company's 2025/26 annual report statement, Chairman R.C. Bhargava foresees the Indian passenger car sector scaling between 6.1 million and 6.3 million units by FY31. This projected expansion is set to be fueled by a resurgence in the small-car category alongside sustained momentum in the sport utility vehicle segment.

In light of a faster-than-expected recovery in entry-level vehicle demand compared to the preceding five years, Maruti Suzuki is revising its five-year growth trajectory. The carmaker noted that the momentum will allow it to cross its next million-unit sales milestone earlier than original estimates suggested.

The upbeat outlook follows a record-breaking performance in FY26, during which the vehicle manufacturer achieved total sales of 2.42 million units. On the export front, the company posted an all-time high, shipping 447,000 units overseas.

Beyond manufacturing scale, Maruti Suzuki is advancing its sustainability agenda. The company's board has sanctioned an initial outlay of 5.61 billion rupees to set up four biogas facilities. Bhargava explained that expanding biogas production serves a dual purpose: curbing India's dependence on imported compressed natural gas while contributing toward national net-zero emissions targets.