Suzuki expects higher sales in India this fiscal

New Delhi: Suzuki Motor Corporation on Monday said it expects its automobile sales in India to be higher than the 5-7 per cent annual growth projected for the domestic market this fiscal.

The Japanese automaker, which has a 56.4 per cent stake in the country's leading carmaker Maruti Suzuki India, on Monday reported a consolidated 30.1 per cent year-on-year increase in net sales at 4,641.6 billion yen for FY22 (April 2022- March 2023).

In a statement, Suzuki stated that it aims to recover its market share in India by introducing sports utility vehicles. It also noted that the automaker will focus on multiple technological pathways like CNG and hybrid cars and not solely depend on battery electric cars to contribute to carbon neutrality in the Indian market.

"We want to contribute to carbon neutrality through a 'multi-path' that includes CNG vehicles, HEVs, etc., rather than focusing solely on BEVs," Suzuki Motor Corp said in a statement referring to the Indian market.

The Japanese automaker said its operating profit increased by 159.1 billion yen year on year (83.1 per cent) to 350.6 billion in FY 2022.