Maruti Suzuki profit before tax FY 2016-2024

The profit before tax of Maruti Suzuki Limited in India stood at around 170 billion Indian rupees at the end of financial year 2024. It was the highest during the presented period. A declining trend was observed between 2019 and 2022. This was mainly due to a combination of the economic slowdown, new emission standards, and the coronavirus pandemic.  

About Maruti Suzuki

Maruti Suzuki, a subsidiary of the Japanese automotive manufacturing company Suzuki, was founded in 1981 and is headquartered in New Delhi. Known as a "people’s car manufacturer," Maruti Suzuki captured over 40 percent of the Indian market share in 2023. The brand's Breeza and Ertiga models became the best-selling cars in the country that year. However, the manufacturers leading passenger cars were Swift, Wagon R, and Baleno, which recorded the highest sales volumes during this period. The company planned to launch its first fully electric vehicle by the end of 2024. Additionally, India's largest passenger carmaker achieved the highest five-star safety rating in crash tests for its Dzire model in 2024. 

Main Competitors

In 2023, Maruti Suzuki, Hyundai, Tata, and Mahindra dominated 80 percent of the passenger car market in India. The latest competitor in the market, Kia Motors, quickly surpassed its established rivals in a short time. With ongoing economic development and rising disposable incomes, India is expected to maintain its position as one of the largest vehicle markets in the world.