Maruti Suzuki India Limited (MSIL) is strategically leveraging exports to navigate a complex domestic market, with Japan emerging as a key destination for its "Make in India" cars. The company has set an ambitious target to export 400,000 units in the current financial year (FY26), marking a 20% year-on-year growth. This aggressive push aims to increase Maruti Suzuki's export market share from 43% to 50% and provide a buffer against potential domestic market fluctuations.
Several factors are driving this export-oriented strategy. Sluggish domestic sales, particularly in the mini and compact car segments, have prompted Maruti Suzuki to look overseas for growth. Rahul Bharti, Executive Director, Corporate Affairs at Maruti Suzuki India, noted that strong exports have been crucial in offsetting a softer domestic wholesale market. In May 2025, the company's exports surged by 80% year-on-year, contributing to an overall sales growth of 3.2%.
Japan has rapidly become the second-largest destination for Maruti Suzuki's exports, a testament to the strong reception of specific models in the Japanese market. The Fronx and Jimny, in particular, have been instrumental in driving increased volumes in new markets like Japan. In FY25, Maruti Suzuki commenced exports of the Fronx and Jimny 5-door to Japan, and both models have been met with an overwhelmingly positive response.
Maruti Suzuki's export performance has been steadily increasing over the past few years. The company exported 240,000 cars in 2021-22, 260,000 in 2022-23, 280,000 in 2023-24, and 330,000 in 2024-25. In FY 2024-25, Maruti Suzuki registered record total exports of 332,585 units, a 17.5% increase over the previous year. This achievement has solidified Maruti Suzuki's position as India's number one passenger vehicle exporter for the fourth consecutive financial year, accounting for approximately 43% of the country's total vehicle exports. The top export models in FY25 were the Fronx, Jimny, Baleno, Swift, and Dzire.
The company's success in the export market is closely aligned with the Indian government's "Make in India" initiative. By meeting both domestic and international demands, Suzuki is demonstrating its commitment to India's growing stature as a global manufacturing hub. Furthermore, Maruti Suzuki plans to export the e-Vitara, its first global strategic battery electric vehicle (BEV), to around 100 countries, including Europe and Japan, in FY 2025-26. This move will further solidify India's role as a key manufacturing base for Suzuki's global operations.
In addition to Japan, Maruti Suzuki exports to approximately 100 countries worldwide, with key markets including Africa, Latin America, and Southeast Asia. South Africa is currently the largest market, accounting for 27% of exports, followed by Japan at 16% and Chile at 11%. The company's ability to adapt to diverse market demands and offer a range of models has been crucial to its export success.
Maruti Suzuki's record-breaking exports in June 2025, with 37,842 units shipped, further underscore its growing global presence. Despite a year-on-year dip in the domestic market, cumulative exports for April to June in FY26 rose sharply to 96,972 units, up from 70,560 in the same period the previous year. This robust export performance is a testament to Maruti Suzuki's strategic focus on overseas markets and its ability to leverage its Indian manufacturing base to meet global demand.
