Launch thrust to power volume engine of PV maker Maruti Suzuki India

Firing on all cylinders: New models to steer it through cost bumps, sector drag

The January–March quarter (Q4) results for 2024–25 (FY25) from the country’s largest passenger vehicle (PV) maker, Maruti Suzuki India (MSIL), were a mixed bag, with revenues broadly in line but operating profit missing Street expectations. Given cost pressures, margins at the operating level were the lowest in the past seven quarters.

 

While MSIL is expected to outperform the sector on the volume front in 2025–26 (FY26), the overall outlook for the sector isn’t exciting. Volume growth for the PV industry is expected to inch up by just 1 per cent in the current financial year (FY26). Despite the muted sector