Maruti Suzuki’s UV Sales Strategy and Achievements in FY24

In the fiscal year 2024, Maruti Suzuki experienced remarkable growth in Utility Vehicle (UV) sales, attributed to the introduction of new models that drove significant increases. Gain insights into their milestone achievements and ambitious plans for the future as they continue to chart a course for further expansion.

Maruti Suzuki’s FY24 UV Sales Success and Future Trajectory

Maruti Suzuki, the leading car manufacturer in India, witnessed an exceptional surge in UV sales during the fiscal year 2023-24. With the introduction of new models like the Fronx, Grand Vitara, and Jimny, Maruti Suzuki experienced a remarkable 75.42% year-on-year growth in UV sales, solidifying its dominance in the segment. Let’s delve into the details of this impressive achievement and what it means for the automotive industry.

Driving Forces Behind Maruti Suzuki’s UV Sales Growth

Introduction of New Models:
The strategic launch of new UV models played a pivotal role in Maruti Suzuki’s remarkable sales growth. Models such as the Fronx, Grand Vitara, and Jimny captured the attention of consumers and contributed significantly to the surge in sales.

Record-breaking Total Sales:
Maruti Suzuki’s success extended beyond UV sales, with the company achieving its highest-ever total sales of 2,135,323 units in FY24. This milestone included record domestic sales of 17,93,644 units and a historic export tally of 2,83,067 units.

Milestone Achievements:
Beyond sales figures, Maruti Suzuki reached a significant milestone with cumulative production surpassing 3 crore units. This achievement underscores the brand’s enduring legacy and unparalleled contribution to India’s automotive industry.

Future Plans and Investments:
Looking ahead, Maruti Suzuki is committed to further expansion and growth. The company plans to invest in increasing its annual production capacity to 4 million units by FY 2030-31, with ten new cars in the pipeline. Additionally, plans are underway to establish two new greenfield manufacturing plants to meet future demand.

Sales Data for FY23-24:

CategoryUnits Sold
UV Sales6,42,296
Domestic Sales17,93,644
Exported Units2,83,067
Total Sales2,135,323

Investments and Future Plans:

  • Annual Production Capacity Target: 4 million units by FY 2030-31
  • Planned New Cars: Ten new models in the pipeline
  • New Manufacturing Plants: Two greenfield plants in Kharkhoda-Haryana and Gujarat.

Maruti Suzuki’s UV Sales Milestones

Maruti Suzuki’s stellar performance in UV sales in FY24 reflects its continued commitment to innovation and customer satisfaction. With new models driving growth and ambitious plans for the future, Maruti Suzuki is poised to maintain its leadership position in India’s automotive market for years to come.

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