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Partho Banerjee, Senior Executive Officer-Marketing & Sales, Maruti Suzuki, said bookings are strong ahead of Diwali, with the carmaker eyeing a 2.7-million-unit non-SUV market by 2030.
"Bookings are very good. So far, things are going very positively. Everything is moving northwards," Banerjee said from the sidelines of the Society of Indian Automobile Manufacturers (SIAM) Annual Convention 2026 in New Delhi.
Banerjee's comments come days after Maruti Suzuki reported a strong set of numbers, and as the industry heads into its biggest sales window of the year — the Diwali festive season.
A low base, but real momentum
Banerjee cautioned that some of this year's growth reflects an easy comparison, not just fresh demand. "This year the growth which we are seeing is on a very low base of last year, because last year was also a year of two halves," he said, pointing to the introduction of GST 2.0 — the revamped Goods and Services Tax structure — midway through the previous year, which reset the base for the second half.
Even so, he said the underlying trend is positive: "Instead of talking about the headwinds, I will still say there are pretty good tailwinds there."
Banerjee said the current volumes the industry is running at are close to 4.5 lakh vehicles a month — a pace that, annualised, comes to roughly 5.3 to 5.4 million units. "I don't find any rhyme and reason why the industry should not be growing at the same numbers," he said, adding that he expects the second half of the year to track similarly.
Record Onam performance in Kerala
Maruti Suzuki's Onam season sales were a highlight, particularly in Kerala. "My regional office has informed me that they have touched 60% Vahan market share in the Kerala market," Banerjee said, calling it the company's best-ever performance in the state by that measure. Vahan is the government's vehicle registration database, widely used in the industry as a proxy for real retail sales.
Asked about the outlook for the next two to three months, including Diwali, Banerjee kept his answer brief but upbeat: "Bookings are very good, and so far, the things are going are very positive. Everything is moving northwards."
Beyond SUVs: a bet on the "other" 43%
SUVs have come to dominate India's car market, but Banerjee pushed back on the idea that they're the only segment that matters. "Of the total industry, it contributes 57%, but there is another 43%," he said.
He laid out the arithmetic behind Maruti's strategy: by 2030, he expects the overall industry to reach 6.1 to 6.3 million units a year. Applying the 43% non-SUV share to that figure works out to roughly 2.7 million vehicles — a segment Banerjee argued is too large to ignore.
"Maruti is going to have a play in the small cars, in the premium hatches, in the entry hatches, sedans, MPVs — we are going to have a play," he said. The comment comes shortly after the company's launch of the redesigned Tiago-segment rival, as Maruti works to defend its position in mass-market hatchbacks even as SUVs draw the bulk of industry attention.
For the full interview, watch the accompanying video
Catch all the latest updates from the stock market here
"Bookings are very good. So far, things are going very positively. Everything is moving northwards," Banerjee said from the sidelines of the Society of Indian Automobile Manufacturers (SIAM) Annual Convention 2026 in New Delhi.
Banerjee's comments come days after Maruti Suzuki reported a strong set of numbers, and as the industry heads into its biggest sales window of the year — the Diwali festive season.
A low base, but real momentum
Banerjee cautioned that some of this year's growth reflects an easy comparison, not just fresh demand. "This year the growth which we are seeing is on a very low base of last year, because last year was also a year of two halves," he said, pointing to the introduction of GST 2.0 — the revamped Goods and Services Tax structure — midway through the previous year, which reset the base for the second half.
Even so, he said the underlying trend is positive: "Instead of talking about the headwinds, I will still say there are pretty good tailwinds there."
Banerjee said the current volumes the industry is running at are close to 4.5 lakh vehicles a month — a pace that, annualised, comes to roughly 5.3 to 5.4 million units. "I don't find any rhyme and reason why the industry should not be growing at the same numbers," he said, adding that he expects the second half of the year to track similarly.
Record Onam performance in Kerala
Maruti Suzuki's Onam season sales were a highlight, particularly in Kerala. "My regional office has informed me that they have touched 60% Vahan market share in the Kerala market," Banerjee said, calling it the company's best-ever performance in the state by that measure. Vahan is the government's vehicle registration database, widely used in the industry as a proxy for real retail sales.
Asked about the outlook for the next two to three months, including Diwali, Banerjee kept his answer brief but upbeat: "Bookings are very good, and so far, the things are going are very positive. Everything is moving northwards."
Beyond SUVs: a bet on the "other" 43%
SUVs have come to dominate India's car market, but Banerjee pushed back on the idea that they're the only segment that matters. "Of the total industry, it contributes 57%, but there is another 43%," he said.
He laid out the arithmetic behind Maruti's strategy: by 2030, he expects the overall industry to reach 6.1 to 6.3 million units a year. Applying the 43% non-SUV share to that figure works out to roughly 2.7 million vehicles — a segment Banerjee argued is too large to ignore.
"Maruti is going to have a play in the small cars, in the premium hatches, in the entry hatches, sedans, MPVs — we are going to have a play," he said. The comment comes shortly after the company's launch of the redesigned Tiago-segment rival, as Maruti works to defend its position in mass-market hatchbacks even as SUVs draw the bulk of industry attention.
For the full interview, watch the accompanying video
Catch all the latest updates from the stock market here
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