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Maruti Suzuki, India’s leading automaker, cracks the global top 10 by market value, dethroning prominent brands from North America and Europe
Riding strong tailwinds from a reduced GST, India’s leading automaker, is back in the news. The Indo-Japanese joint venture, best known for its sub-4 metre cars, has surpassed Volkswagen and Ford in market cap, becoming the world’s ninth-highest valued carmaker.
As of 29th September, Maruti Suzuki is valued at 5,03,044.12 crore (5.0 trillion) rupees, which converts to approximately 56.7 billion dollars. This puts it well above Ford, valued at 47.7 billion dollars, and also Volkswagen, valued at 46.2 billion euros (54.3 billion dollars).
Maruti Suzuki was already way ahead of Suzuki Motor Corporation, which owns a 58.19% stake in it. The latter, with a market cap of 4.26 trillion yen (28.7 billion dollars), ranks 17. Maruti Suzuki’s mainstay is sub-4 metre petrol cars with a 1.2-litre or smaller engine, so it is well-positioned to gain the most among all automakers from the government’s recently reduced GST on this category from 29% to 18%.
Also Read: 5+ Upcoming Midsize SUVs You Should Wait For; Maruti To Mahindra
On 22nd September, the first day the new GST rates became effective, Maruti Suzuki received 80,000 enquires and has already delivered over 25,000 cars, said Partho Banerjee, the company’s Senior Executive Officer for Marketing and Sales. Navratri’s onset coinciding with this date has also led to a surge in demand, and with Diwali coming soon, the company looks poised for solid growth towards the end of the calendar year.
A wave of series-hybrid sub-4 metre segment cars with a 1.2-litre engine is set to arrive in Maruti Suzuki showrooms starting in 2026. Expected to deliver a fuel economy of as high as 35 km/l, these frugal small cars should help the company further strengthen its position in the small car space and sustain the momentum.
Also Read: 4 New Maruti Suzuki Cars Launching In 2026-27 In India
Simultaneously, the company is aggressively expanding its SUV line-up. Just earlier this month, it launched the Victoris, its new rival to Hyundai’s Creta, as its fifth SUV. Towards the end of the year, it will likely launch the e-Vitara as its first electric SUV.
Investors are taking note of Maruti Suzuki’s growing strength and the upside ahead. On 26th September, the company’s shares recorded a 52-week high, going up from 10,725 rupees to 16,435 rupees—a whopping 53.2% growth. Even the Nifty Auto index has not gone up at such a pace during this period (43.5%).
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