Suzuki aims to boost sales by a third by 2030, invest heavily in India

Suzuki Motor aims to boost global sales by 30% in 5 years, focusing on India for expansion and electric vehicles.

Japanese small car maker Suzuki Motor said it will target 4.2 million vehicles in global sales in five years' time, an increase of nearly a third, with most of its expansion concentrated in its main market of India.

It expects 60% of those sales to be in India, adding that the country would also receive 60% of the 2 trillion yen ($13 billion) it plans to invest by the 2030 financial year.

The company aims to boost manufacturing capacity in India to meet expected local demand while expanding India's role as an exports hub to markets in Africa and the Middle East.

"India is Suzuki's most important market where we are putting the most effort," President Toshihiro Suzuki said at a strategy briefing in Tokyo.

The automaker has invested heavily in India since the early 1980s and Maruti Suzuki, majority-held by the Japanese automaker, commands roughly 40% of the country's car market.

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It said, however, that it now expects to launch four battery electric vehicles in India by fiscal 2030, scaling back a previous goal of rolling out six.