Maruti Suzuki hits 2.34m FY26 production record in India

Record annual output sets a new benchmark

Maruti Suzuki India Ltd (MSIL) reported its highest-ever annual production in FY2025-26 at 23.4 lakh units (2.34 million). The company said the milestone makes it the only passenger vehicle manufacturer in India to reach this level of production, as per SIAM data. MSIL also stated it is the only facility within Suzuki Motor Corporation’s global manufacturing network to achieve this annual volume. The update comes at a time when the company is also posting record sales and export numbers. Taken together, the production and sales figures underline how sharply volumes have scaled at India’s largest carmaker. The company’s latest disclosures point to sustained demand, especially for utility vehicles, and a widening export footprint.

Manufacturing footprint and installed capacity

MSIL currently operates four manufacturing facilities, located in Gurugram, Manesar and Kharkhoda in Haryana, and Hansalpur in Gujarat. According to the company, these plants together have an installed annual capacity of 24 lakh units (2.4 million). With FY2025-26 production at 23.4 lakh units, MSIL operated close to its installed capacity during the year. The numbers highlight why incremental capacity additions and productivity improvements are becoming important to support future growth. The company’s production scale also reflects the role of its multi-plant setup across two states. While the statement did not provide plant-wise output, it clearly positions the network as a key driver behind the record.

FY26 sales: three all-time highs in one year

MSIL closed FY2025-26 with three all-time highs: total sales, domestic sales, and exports. Total sales reached 24,22,713 units, crossing 24 lakh units for the third year in a row. Domestic PV plus LCV sales came in at 18,61,704 units, up 3.7% year-on-year. Exports rose to 4,47,774 units, which the company described as an all-time high. MSIL also compared total sales against the previous year’s 22,34,266 units, indicating an improvement in absolute volumes. The figures show that exports contributed meaningfully to the overall growth, alongside steady domestic expansion.

March 2026 production surge led by utility vehicles

In March 2026, MSIL’s total passenger vehicle production rose to 2,27,942 units, up 19.2% from 1,91,180 units in the same month last year. The company attributed the main push to utility vehicles, where production grew 42.2% year-on-year to 1,02,622 units. This rise was linked to strong demand and higher capacity. The mini segment also increased 31%, though the company noted it was on a smaller base. Compact cars were largely stable with a 2% increase. MSIL also reported that the Ciaz had zero units recorded in March 2026, indicating it is no longer in production.

March 2026 sales snapshot

MSIL said that in March 2026 it sold a total of 225,251 units. Domestic sales for the month stood at 169,428 units, comprising 166,219 passenger vehicles and 3,209 light commercial vehicles. While production and wholesale sales are not the same measure, the March figures provide context on volumes heading into the new financial year. The monthly disclosure also ties into the full-year performance, where the company maintained sales above 24 lakh units for a third consecutive year.

Exports at a record, and a widening global footprint

Exports in FY2025-26 rose to 4,47,774 units, up over 34% from 3,32,585 units in the previous year. MSIL said it now exports to more than 100 countries and holds over 48% share of India’s total passenger vehicle exports. The scale of growth suggests exports are increasingly central to MSIL’s volume strategy, not just a marginal channel. Separately, the company also reported that in calendar year 2025, its export division shipped 3.95 lakh vehicles, a record that was stated to be more than 21% higher than 2024. The sequential jump from CY2025 exports to FY2025-26 exports signals continued momentum.

Product mix trends: SUVs continue to gain share

MSIL’s data points to a continuing shift in customer preference toward utility vehicles. For FY2025-26, utility vehicles crossed 7.6 lakh units, reflecting the ongoing tilt toward SUVs. In March 2026, the strongest production growth also came from utility vehicles, reinforcing the same trend. The mini segment’s growth suggests demand has not been limited to higher-priced categories, but the company flagged the smaller base. Compact cars staying nearly flat indicates stability in a mature segment. The discontinuation of the Ciaz in March 2026, as indicated by zero production, also signals portfolio changes in response to market dynamics.

Capacity expansion: Khoraj facility investment plan

MSIL has also outlined a future capacity addition through its Khoraj facility. The company said the Khoraj facility will have a 2.5 lakh unit capacity in the first phase, with a planned investment of Rs 10,189 crore. While the broader project timeline was not detailed in the provided information, the plan aligns with MSIL’s near-capacity utilisation at existing facilities. Additional capacity could help support domestic demand, export growth, and any supplies to other OEMs that the company includes within its production accounting.

Key numbers at a glance

March 2026 production mix highlights

Market impact and why the FY26 record matters

The FY2025-26 production figure of 2.34 million against an installed capacity of 2.4 million indicates very high utilisation across MSIL’s plant network. That matters for investors and industry watchers because sustained high utilisation often pushes manufacturers to rely on debottlenecking and expansion to protect delivery timelines and model launch schedules. On the demand side, domestic PV and LCV sales growth of 3.7% shows steady expansion, while exports grew much faster, rising over 34% year-on-year to a record 4,47,774 units. The export share claim of over 48% of India’s passenger vehicle exports also positions MSIL as a key driver of the country’s auto export performance.

Conclusion

Maruti Suzuki’s FY2025-26 results combine record production of 23.4 lakh units with all-time high sales, domestic volumes, and exports. The March 2026 data shows the strongest growth coming from utility vehicles, aligning with the broader SUV shift. With existing installed capacity at 24 lakh units and output nearing that level, planned additions such as the Khoraj facility’s first-phase 2.5 lakh unit capacity and Rs 10,189 crore investment will remain in focus as the company scales further.