Suzuki could overtake Honda to become Japan’s second-largest carmaker based on global sales volume forecasts for the current fiscal year ending March 2027, Nikkei Asia reports. Suzuki projects a 7% gain to sell 3.55 million cars globally, as Honda slips into third place with an estimated sales volume of 3.39 million cars over the same period.
Ironically, this has been achieved despite Suzuki having no presence in either the United States or China, which represent the world’s two largest car markets. This absence effectively shielded Suzuki from the woes of selling electric vehicles in China, unlike Honda, which suffered to the point of making a U-turn on its EV ambitions to focus on hybrids instead.
By also bypassing the American market, Suzuki was spared the complex issue of shifting tariffs, which caused carmakers like Ford and General Motors to reportedly lose billions in revenue in 2025.
During fiscal year 2025, Suzuki’s consolidated net profit increased to JPY439.2 billion, a 6% increase, while revenue grew by 8% to JPY6.29 trillion, marking an all-time high for the company since it ventured into automotive manufacturing in 1955.
Global sales grew by 2.4% during that same period to 3.32 million units, with the Indian market alone accounting for 56% of all vehicles sold worldwide by the brand. Building on this momentum, the new sales prediction of 3.55 million cars for 2026 represents a 7.1% jump, with India’s dominant 40% market share projected to account for over 60% of Suzuki’s entire global sales footprint.
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To keep up with demand there, Suzuki is reportedly planning to increase its production capacity by almost 50% to four million cars by 2030, with active plans to develop India as the marque’s primary export hub. On the trade side, Suzuki’s exports increased by 35% to 448,000 cars in fiscal 2025 as the company expands further into Africa, which offers high growth potential and a geographical advantage.
Despite these positive outcomes, the company remains cautious about its plans for the Indian market as it will face competition from carmakers such as Mahindra, Tata, and Hyundai, alongside Honda and Toyota.
Looking ahead, Suzuki stated that it expects to be impacted by the ongoing conflict in the Middle East, which could erase up to JPY100 billion from full-year profits due to rising supply-chain costs. This disruption is estimated to shrink Suzuki’s net profit by 13% this fiscal year to JPY380 billion.
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