Maruti Suzuki, India’s largest carmaker, reported its March 2025 sales figures on April 1, 2025, reflecting a mixed performance. The company achieved a 3% year-on-year (YoY) growth in total sales, reaching 1,92,984 units compared to 1,87,196 units in March 2024. However, the Maruti Suzuki March 2025 sales reveal a complex picture, with domestic passenger vehicle (PV) sales declining and exports surging. Let’s break down the numbers, trends, and what this means for Maruti in India’s evolving automotive market.
March 2025 Sales Overview
Maruti Suzuki’s total sales in March 2025 stood at 1,92,984 units, up by 3% YoY. Domestic PV sales, however, dipped by 1.3% to 1,50,743 units from 1,52,718 units in March 2024. Meanwhile, total domestic sales, including light commercial vehicles (LCVs), fell 2% to 1,53,134 units. On the brighter side, exports soared by 27% to 32,968 units, up from 25,892 units, marking a significant boost.
Utility Vehicles (UVs) were a key highlight, with 61,097 units sold, a 4.6% increase from 58,436 units in March 2024. Models like the Brezza, Ertiga, Fronx, and Grand Vitara drove this growth, reflecting Maruti’s strong position in the SUV segment. For the full fiscal year (FY25), Maruti sold 7,20,186 UVs, up 12.1% YoY, contributing significantly to its record annual sales of 22,34,266 units—a 4.6% increase from 21,35,323 units in FY24.
Segment-Wise Performance
The compact segment, including bestsellers like the Baleno, Swift, and WagonR, faced challenges. For FY25, this segment saw a 7% decline, a trend consistent with February 2025 data showing a drop from 86,409 to 83,168 units. The mini segment (Alto, S-Presso) also continued its downward trajectory, with February sales at just 10,226 units, reflecting a broader decline in small car demand.
In contrast, UVs have been Maruti’s growth engine. The company’s focus on SUVs and MPVs aligns with market trends, as SUVs now account for over 50% of India’s PV sales. Maruti’s UV market share rose to 22% in FY24, though it missed its 25% target. For FY25, domestic PV sales reached a record 17,95,259 units, while exports hit an all-time high of 3,32,585 units, up 17.5% YoY.
Key Sales Figures
Market Context and Challenges
India’s PV market grew by 3.7% in February 2025, with 3,31,254 units sold, but posts on X suggest a weaker March due to a high base effect from FY24. Maruti’s market share has been under pressure, dropping to 42.2% in February 2025 from 43.1% in February 2024. The decline in small car sales, a traditional stronghold for Maruti, reflects shifting consumer preferences toward SUVs. Meanwhile, competitors like Mahindra, which reported an 18% YoY growth in SUV sales in March 2025 (48,048 units), are gaining ground.
Rising input costs have led to price hikes of up to 4% starting April 2025, likely prompting some pre-buying in March. However, traffic congestion in cities like Bengaluru, with speeds below 20 kmph, and poor road infrastructure outside highways may deter buyers, especially for compact models. Maruti’s focus on CNG models, which contributed 4.52 lakh units in CY24 (up 26.3%), offers a potential growth avenue, but the lack of a strong EV portfolio could hinder its long-term competitiveness as India’s EV market grows.
Critical Perspective
Maruti Suzuki’s narrative of record FY25 sales masks underlying challenges. The 1.3% drop in domestic PV sales in March 2025 signals a disconnect with urban buyers, who increasingly favor SUVs from rivals like Mahindra and Hyundai. Maruti’s UV growth is commendable, but its 22% market share in the segment lags behind its overall PV market dominance, suggesting room for improvement. The decline in the compact and mini segments raises questions about Maruti’s strategy in these areas—relying on CNG variants may not be enough to revive demand.
Moreover, Maruti’s export growth, while impressive, may be driven by a low base rather than sustainable demand. The company’s focus on petrol and CNG models overlooks the growing demand for hybrids and EVs, where competitors like Tata Motors (with 73,833 EV units in FY24) are making strides. Maruti’s planned EV launches, such as the eVX in FY25, are still pending, potentially leaving it vulnerable in a market increasingly prioritizing sustainability.
Final Thoughts
The Maruti Suzuki March 2025 sales highlight its resilience, with UVs and exports driving growth despite a domestic PV decline. The company’s record FY25 performance of 22,34,266 units underscores its market leadership, but challenges in the small car segment and rising competition demand a strategic rethink. Will Maruti accelerate its EV plans to stay ahead, or will its reliance on traditional segments hold it back? Stay tuned as the new financial year unfolds.
Also Read: Mahindra XUV700 Price Cut: Up to Rs 75,000 Off in 2025
