Maruti Suzuki expects 20% export growth in FY26, Hyundai bullish about single-digit growth
Maruti Suzuki and Hyundai are expecting upbeat export performance in FY26. Check Offers
Hyundai and Maruti Suzuki, two leading car manufacturers in the Indian passenger vehicle market, are expecting robust growth in export volumes in FY26. Both these car manufacturers expect healthy growth in overseas shipments in the current financial year amid the challenging business environment in the domestic market.
PTI has reported that Maruti Suzuki is bullish about achieving around 20 per cent export growth in FY26, while Hyundai is expecting a single-digit growth in overseas shipments this fiscal. Maruti Suzuki aims for 20% export growth in FY26
Speaking about Maruti Suzuki's export shipment expectation, MSI Senior Executive Officer (Corporate Affairs) Rahul Bharti said that the auto company aims to sell four lakh units in export markets in this fiscal. "Our target for this year (FY26) is at least four lakh units, which implies growth of at least 20 per cent over FY25," he said. He said the company's exports are fairly diversified, with a presence in about 100 countries. "Africa, Latin America and Southeast Asia are our big markets. We have entered Japan recently, and it has quickly sprung up to the second most popular destination on the back of just two models, the Fronx and the Jimny," Bharti added.
The key official also said that once the Maruti Suzuki e-Vitara is launched, which is going to be the first-ever electric car of the brand, the overall export volume of the company will further shore up. Maruti Suzuki has already stated that the e-Vitara electric SUV will be shipped to overseas markets alongside being sold in the Indian market. "We do think that our market share in exports will grow this year. We are already at 43 per cent and the golden mark of 50 per cent is close," Bharti further stated.
Last fiscal year, Maruti Suzuki reported record exports of 3,32,585 units, a growth of 17.5 per cent over FY24. The auto major had exported 2,83,067 units in the 2023-24 fiscal year. The company accounted for nearly 43 per cent of the country's total passenger vehicle exports last fiscal year.
Fronx, Jimny, Baleno, Swift, and Dzire were the highest exported models in 2024-25, while South Africa, Saudi Arabia, Chile, Japan, and Mexico were the top five markets. Hyundai hopeful about single-digit export growth in FY26
Hyundai is expecting to record a single-digit growth in its export numbers from India. Speaking about this, Hyundai Motor India Managing Director Unsoo Kim said that the company is aiming to become the Hyundai group's largest export hub outside South Korea. "We aspire to continue our growth trajectory in exports in the coming years," he said, while also adding that exports have gained strong momentum in recent months, and the automaker aims to sustain this trajectory going forward. "For FY26, we anticipate the growth in export volumes to be around 7-8 per cent, supported by robust demand for our products in the emerging markets," Kim stated.
Hyundai Motor India exported 1,63,386 vehicles in FY25 as compared with 1,63,155 units in FY24.
Commenting on the business outlook for the domestic market, Kim said, 'For financial year FY26, our endeavour is to grow broadly in line with the industry, driven by our strong SUVization and premiumisation strategy along with focus on rural markets, among others."
Check out Upcoming Cars in India 2024, Best SUVs in India.
First Published Date: 08 Jun 2025, 10:58 AM IST
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