Sales of Maruti Suzuki India Ltd. rose to a record high in fiscal 2025, but that masked muted demand at home amid surge in exports.
Total sales of India’s largest carmaker rose 4.63% to 22,34,266 units in the fiscal ended March 31, 2025, as against 21,35,323 units in FY24, according to an exchange filing. That includes highest ever annual domestic sales of 1,795,259 units and highest ever annual exports of 3,32,585 units.
But year-on-year, local car sales rose by less than 1,000 units even as the exports surged by nearly 50,000 units. The domestic scenario doesn’t improve much even after Super Carry and sales to Toyota India were included in the mix.
Key Highlights
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Domestic PV sales up 0.05% at 17,60,767 units.
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Total India sales up 2.66% YoY at 19,01,681 units.
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Exports up 17.49% YoY at 3,32,585 units.
The muted sales at home can be attributed to lack of demand for small cars, hatchbacks and sedans, even as Maruti Suzuki’s SUVs play catch-up with rival offerings from Mahindra & Mahindra Ltd.
Sales of Maruti Suzuki’s passenger cars — including Alto, S-Presso, Baleno, Celerio, Dzire, Ignis, Swift, WagonR and Ciaz — fell 7.7% year-on-year to 9,04,909 units as against 9,80,446 units in FY24.
Over the same time, Maruti Suzuki’s SUVs — Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, XL6—rose 12.12% year-on-year to 7,20,186 units.
But that performance pales in comparison to that of M&M.
India’s largest SUV maker by revenue sold 5,51,487 units in FY25 as against 4,59,864 units in FY24, clocking a growth of 20% year-on-year. That growth came on the back of the launch of the XUV 3XO compact SUV, as well as the Thar Roxx. Maruti Suzuki, meanwhile, didn’t have a new SUV last year.
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