Suzuki expects India’s automobile market to expand five-fold by 2047

FILE PHOTO: A worker adjusts the windscreen wipers of a parked car at a Maruti Suzuki stockyard on the outskirts of the western Indian city of Ahmedabad September 1, 2011. REUTERS/Amit Dave/File Photo

NEW DELHI: India’s car market is on track to reach 20 million units by 2047, helped by promising growth in battery electric vehicles (EVs), says Suzuki Motor Corp executive vice-president Kenichi Ayukawa.

First, the goal is for Maruti Suzuki India Ltd, the Japanese carmaker’s subsidiary, to grab 50% market share by 2030, from around 40% for the fiscal year through March. “We’re confident that the Indian market will expand in the mid to long term,” Ayukawa said in an interview.