Maruti Suzuki targeting export worth Rs.20,000 crores in 3 years

Maruti Suzuki is targeting to export vehicles worth up to Rs.20,000 crores in the next 3 years. Maruti Suzuki has been exporting vehicles since 1986 and exported to around 100 countries. Some of the top models in FY 2021-2022 are Dzire, Swift, Baleno, Brezza, and S-Presso. Top export destinations were Africa, Latin America, and ASEAN. This company is the most passenger vehicle exporter and exported more than 238,000 of the 570,000 units from India in fiscal 2022. Maruti had revenue of Rs.12,000 crores from the export in the last fiscal year. This company shipped around 1,00,000 vehicles in a year. Currently, the company’s market share is under 45%, and the plan is to uplift it to 50% in the coming years. Shashank Srivastava, Senior Executive Director of Maruti Suzuki, said that the SUV is the largest and fastest-growing segment in the market. The SUV segment of Maruti will play a crucial role to uplift its overall market share in the country, further, he said. Earlier known as Maruti Udyog Limited, this company reported that 26.37% increase in total sales (1,65,173 units) in August 2022. The company is taking all the measures to minimize the impact of the shortage of electronic components on the production of vehicles, Maruti Suzuki India ltd (MSIL) said.