• Commodity cost impact: Rising commodity costs and foreign exchange fluctuations reduced sales value by over 2% last year, and price revisions will be decided once there is long-term cost certainty.
• FY27 volume outlook: Maruti Suzuki expects domestic volume growth of more than 10%, aiming to outperform SIAM's industry growth estimate of 5–7%, while exports are projected to stay around 447,000 units.
• Production capacity constraints: Further growth is constrained by near 100% plant utilization, though two new lines adding half a million total capacity will contribute approximately 250,000 vehicles in FY27.
• Segment demand trends: SUV demand remains strong among affluent buyers, while entry-level car sales have recovered following GST cuts that improved affordability.
• Regulatory and EV: Management expects to comply with final CAFE emission norms without difficulty and plans to showcase an electric vehicle at the 2027 auto show.