Despite a tough business climate in India’s domestic automobile market, Maruti Suzuki and Hyundai Motor India remain optimistic about expanding their overseas shipments in the FY26.
Hyundai Motor India is forecasting a single-digit increase in export volumes for FY26. The company exported 1,63,386 vehicles in FY25, a slight rise from 1,63,155 units the previous year.
Unsoo Kim, Managing Director of Hyundai Motor India, expressed the company’s ambition to become Hyundai’s largest export hub outside South Korea. “We aim to sustain the positive momentum we’ve gained in recent months and continue growing our export volumes,” Kim said during a recent analyst call.
He added, “For FY26, we anticipate a 7-8% growth in export volumes, driven by strong demand in emerging markets.”
On the domestic front, Hyundai Motor India remains cautious yet hopeful. Kim said, “For FY26, we aim to grow broadly in line with the industry, supported by our SUV-focused strategy, premiumization, and a push into rural markets.” Despite persistent challenges in the domestic market, Hyundai is confident in its strong fundamentals and growth plans.
Also Read: May 2025 Auto Sales: Tata Motors, Maruti Suzuki, M&M Shares in Focus
Maruti Suzuki India Limited (MSIL) is more bullish, targeting around 20% volume growth in its export shipments this fiscal year. The company aims to sell at least 4 lakh units overseas, up from 3,32,585 vehicles exported in FY25—a 17.5% increase over FY24.
Rahul Bharti, MSIL’s Senior Executive Officer for Corporate Affairs, highlighted the company’s diverse export footprint spanning roughly 100 countries. Key markets include Africa, Latin America, and Southeast Asia, with Japan emerging as a significant new destination, propelled by models like the Fronx and Jimny.
An exciting factor for Maruti Suzuki is the upcoming introduction of electric vehicles (EVs), which Bharti believes will further boost export numbers. “We currently hold 43% of the country’s passenger vehicle export market share, and we are aiming to reach the golden mark of 50% soon,” he added.
In FY25, Maruti Suzuki’s top exported models were the Fronx, Jimny, Baleno, Swift, and Dzire. The main international markets included South Africa, Saudi Arabia, Chile, Japan, and Mexico.
The Society of Indian Automobile Manufacturers (SIAM) projects low single-digit growth for passenger vehicle sales in India during FY26.
Furthermore, Suzuki Motor Corporation anticipates overall passenger vehicle wholesales in India to grow by 1-2% in 2025-26, with Maruti Suzuki expected to outperform the broader industry growth.
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Published on: Jun 9, 2025, 11:51 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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