Suzuki has overtaken Honda to become Japan’s second-largest automaker by global sales volume for the first time in its history, driven by strong demand in India and steady growth across key markets.
The Japanese carmaker sold 3.55 million vehicles globally during the 2025-26 Japanese financial year, which ran from April 1, 2025 to March 31, 2026. That figure marked a seven per cent increase year-on-year and pushed Suzuki ahead of Honda, which reported global sales of 3,371,664 units over the same period. The milestone marks Suzuki’s highest global ranking since it began building cars in 1955, with only Toyota remaining ahead among Japanese automakers.
Suzuki president Toshihiro Suzuki downplayed the significance of the ranking during the company’s earnings announcement. “We’re not doing things to become number two; our mission is to build and sell cars that people will embrace,” he said. The company also posted strong financial results, recording a six per cent rise in consolidated net profit to ¥439.2 billion (approximately A$4.6 billion), while revenue climbed eight per cent to ¥6.29 trillion (approximately A$66.2 billion).
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India continues to power Suzuki’s growth
India remains Suzuki’s biggest market and a major contributor to its global sales success. The company currently holds around 40 per cent market share in India through its Maruti Suzuki business. Suzuki plans to significantly expand its production footprint there, targeting a total annual production capacity of four million vehicles by 2030. The automaker is aiming for 2.9 million units by the end of 2026, with an additional 500,000 units of capacity expected this year alone.
However, Suzuki acknowledged increasing competition in the Indian market, particularly from rival Japanese brands and the growing popularity of SUVs. According to Nikkei Asia, the company faces pressure to expand its SUV lineup further to maintain momentum as local and global competitors continue to strengthen their presence in India.
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Avoiding problems in China and the US
Unlike several of its Japanese rivals, Suzuki has largely avoided the challenges affecting automakers in China and the United States. The company no longer operates in China, shielding it from the aggressive electric vehicle price wars and declining sales faced by brands such as Honda, Nissan, Mazda and Toyota.
Suzuki also does not sell vehicles in the United States, meaning it avoided the impact of shifting tariff policies that reportedly cost major automakers billions in lost revenue during 2025. Despite this, Suzuki warned that ongoing conflict in the Middle East and rising supply chain costs could affect profitability in the coming financial year.
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Suzuki sales decline in Australia
In Australia, Suzuki’s lineup includes the Fronx SUV, Jimny XL, Swift hatchback, Vitara and the newly introduced e Vitara electric SUV. However, local sales have struggled recently. Suzuki Australia recorded a 27.7 per cent sales decline in 2025 following a stop-sale involving the three-door Jimny and a recall affecting the Fronx SUV late last year.
Sales during the first four months of 2026 were also down 23.4 per cent compared with the same period in 2025. Meanwhile, Toyota retained its position as Japan’s and the world’s largest automaker, posting a record 11.28 million global vehicle sales across its Toyota, Lexus, Daihatsu and Century brands during the 2025-26 financial year.
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