Automobiles News

Maruti 1st car company to cross Rs 1 lakh crore revenue mark

Maruti Suzuki has become the first passenger vehicle maker in India to cross Rs 1 lakh crore ($14.5 billion) in revenues, entering the league of top 30 automakers globally, as per Bloomberg data. This is the second Indian PV maker in the global ranking after Tata Motors to enter the league.

Tata Motors is placed at 17th rank mainly owing to more two-third revenue contribution from Jaguar Land Rover. The maker of Baleno and Brezza now is in the 28th position in the global ranking by revenue. Volkswagen, Toyota, and Stellantis with revenue of $293 billion, $271 billion, and $189 billion in the same order are the top automakers by revenue, according to Bloomberg data. “From nowhere we have reached here,” RC Bhargava, chairman Maruti Suzuki India told ET. “The way things are looking – with our expansion plans, we will only improve further. Our plus point is that we are in India, which is one of the few markets growing at a fast pace. The way the economy is being managed, there’s potential for everyone to grow. With no restrictions from the government nothing can hold the companies back,” he added.

On Wednesday, the company announced it will set up a new plant with a production capacity of up to 10 lakh units per year in the light of the estimated market demand including exports.

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