Maruti set to surpass 4.47 lakh export record this year

The company’s exports grew 14.1% year-on-year during April-August. In the first four months of the financial year, the brand said that Maruti exported more vehicles than the combined exports of the other 17 passenger vehicle brands, giving it more than 50% share of India’s passenger vehicle exports.

“We did 4.47 lakh exports last year, we will surpass this figure this year,” said Rahul Bharti, Senior Executive Officer and Head of Corporate Affairs.

The company has been expanding its export portfolio, with its sport utility vehicles (SUVs) emerging as key contributors to overseas volumes. The Fronx has become the fastest SUV to cross 2 lakh exports from India, achieving the milestone in less than 38 months, Bharti added.

He further noted that exports of the eVitara began about a year ago and more than 46,000 units have been shipped to 50 countries so far.

“Momentum is strong but minor concerns on ship availability at times. These problems will continue for a while but we still see it as short term challenges,” Bharti said.

The strong export performance is also providing a counterpoint to periodic logistical constraints. While the availability of ships has emerged as a concern at times, Maruti expects these challenges to remain temporary and does not see them affecting the broader momentum in overseas shipments.

With exports already growing 14.1% in the first five months and last year’s 4.47 lakh milestone within reach, the company expects to set a new annual export record this financial year.