Suzuki Aims for 3.55 Million Global Sales in 2026… Targets Second Place in Japan, Overtaking Honda

*This content was translated by AI.

Suzuki is poised to claim the second spot in the Japanese automotive industry. Based on the 2025 fiscal year, Suzuki’s global sales reached 3.32 million units, trailing Honda’s 3.38 million by approximately 60,000 units. However, Suzuki has set its 2026 fiscal year target at 3.55 million units, while Honda is expected to remain around 3.39 million, drawing attention to a potential shift in rankings.

One of the world’s largest markets, India, lies at the heart of Suzuki’s growth. Of Suzuki’s total 3.32 million sales in the 2025 fiscal year, 1.86 million were sold in India, accounting for more than 56% of the total. Suzuki entered India in 1983 and, through its local joint venture Maruti Suzuki, has captured approximately 40% of the Indian passenger car market. With compact models like Swift and Brezza, Suzuki has established a position akin to a national car brand.

Suzuki projects that the Indian automotive market will grow to an annual volume of 5.3 million units by 2030. To capitalize on this, the company plans to invest 120 billion yen (approximately 11.376 trillion won) solely in India by the 2030 fiscal year, aiming to raise its market share to over 50%. In February, Suzuki launched its fourth manufacturing plant in India, located in Haryana.

Toyota is playing a supportive role for Suzuki. Toyota holds approximately 5% of Suzuki’s shares and jointly operates badge-engineered models with Suzuki in certain markets. The Toyota Axio sold in Europe is a prime example.

Honda’s sales have recently declined due to a strategic shift. Honda canceled numerous electric vehicle projects, revising its development direction, which resulted in an 8.9% year-on-year drop in sales for the 2025 fiscal year. Sales are expected to remain around 3.39 million units this year. Nissan is projected to record 3.3 million units, holding fourth place. Toyota, the leader, reported 10.5 million units including Lexus, maintaining a significant gap over the second through fourth positions.

In response to questions about overtaking in the rankings, Suzuki Cityhiro stated, “We are not simply increasing investments to become second. Our mission is to create and sell cars that customers want in the market.”

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*This content was translated by AI.