New Delhi, September 26, 2025 — Maruti Suzuki India has cemented its position as a global automotive powerhouse, securing the eighth spot among the world’s most valuable carmakers with a market capitalization of around $57.6 billion. The company, India’s largest car manufacturer and a subsidiary of Japan’s Suzuki Motor Corporation, has overtaken international heavyweights such as Ford Motor, General Motors (GM), and Volkswagen AG, according to ETIG data cited by The Economic Times.
With this milestone, Maruti Suzuki’s valuation not only surpassed that of its parent company Suzuki Motor ($29 billion) but also outpaced legacy global brands whose growth has slowed or stagnated.
Surpassing Global Giants
The ranking shuffle in global automotive valuations highlights Maruti’s meteoric rise. The company’s market capitalization has outstripped:
- Ford Motor — $46.3 billion
- General Motors (GM) — $57.1 billion
- Volkswagen AG — $55.7 billion
All three companies, once dominant in the industry, have struggled to maintain momentum in the face of changing consumer preferences, electric vehicle (EV) transitions, and competitive market pressures. Maruti Suzuki’s consistent growth, on the other hand, has propelled it ahead, securing its place in the global top 10.
Tesla Still on Top
Despite Maruti Suzuki’s remarkable leap, Tesla Inc. continues to reign supreme in the global auto market with a staggering $1.47 trillion valuation. The American EV giant, led by billionaire Elon Musk, remains far ahead of its competitors.
Following Tesla, the world’s most valuable carmakers currently are:
- Tesla — $1.47 trillion
- Toyota Motor — $314 billion
- BYD — $133 billion
- Ferrari NV — $92.7 billion
- BMW — $61.3 billion
- Mercedes-Benz Group — $59.8 billion
- Honda Motor — $59 billion
- Maruti Suzuki India — $57.6 billion
The rankings reflect Maruti’s placement just below Honda but above Volkswagen, Ford, and GM — an achievement that underscores India’s growing influence in the global automotive landscape.
Boost from Next-Gen GST Reforms
One of the key drivers behind Maruti Suzuki’s surge has been India’s implementation of next-generation Goods and Services Tax (GST) reforms on September 22. The reforms, designed to rationalize tax structures and improve affordability in the automobile sector, significantly favored small car manufacturers like Maruti, which derives over 60% of its sales volume from compact vehicles.
Following the GST changes, Maruti Suzuki quickly rolled out substantial price cuts across its popular models. Price reductions went as high as ₹1,30,000, delivering a major boost to consumer sentiment during the festive season.
Partho Banerjee, Senior Executive Officer (Marketing and Sales) at MSIL, described the cuts as a “double bonanza” for customers:
- Alto K10 — reduction of 10.6–20%
- S-Presso — reduction of 12.6–24%
- Celerio — reduction of 8.6–17%
- Wagon R — reduction of 8.7–14%
Banerjee emphasized that the new GST regime is accelerating motorization in India by making small cars significantly more affordable.
Sales Momentum and Festive Demand
The timing of GST reforms coincided with the start of Navratri, one of India’s most significant festivals, traditionally associated with high automobile demand. The results were immediate and impressive:
- 15,000 bookings daily since September 22, according to company officials.
- 30,000 vehicles delivered on the first day of Navratri alone.
Industry experts noted that the reforms have tilted the playing field in favor of small car makers. With reduced tax burdens, Maruti Suzuki has been able to leverage its dominance in the compact car segment, translating the policy benefits into surging sales.
Stock Market Performance
Investor enthusiasm has mirrored the company’s strong performance on the ground. Since August 15, when Prime Minister Narendra Modi announced the GST reforms during his Independence Day speech, Maruti’s stock price has soared by 25%, far outpacing broader indices.
- August 14 share price — ₹12,936
- September 25 share price — ₹16,236
In the same period, the Nifty Auto Index rose by nearly 11%, underscoring Maruti’s role as a market outperformer. Analysts believe the rally reflects both immediate sales momentum and a strengthened earnings outlook fueled by policy support and festive demand.
Industry and Market Implications
Maruti Suzuki’s entry into the global top 10 auto companies marks a turning point not just for the company, but for India’s automobile sector as a whole. Long dominated by Western and Japanese players, the global rankings now feature an Indian carmaker making waves internationally.
Experts highlight three key implications:
- India’s Automotive Rise — Maruti’s success signals the potential of Indian companies to compete on the world stage, backed by strong domestic demand and favorable policy support.
- Small Car Advantage — By focusing on affordability and mass-market segments, Maruti has capitalized on a niche often overlooked by global giants who are pivoting towards premium vehicles and EVs.
- Policy Push — The GST reforms demonstrate how regulatory measures can create immediate positive impacts on industry growth, consumer demand, and stock market sentiment.
Future Outlook
Looking ahead, Maruti Suzuki is expected to continue benefiting from the GST reforms, robust demand in small car segments, and India’s broader push for motorization. With production capabilities expanding and a strong order book, the company is well-positioned to maintain its momentum.
However, challenges remain. Global competition is intensifying, particularly in the EV space, where Maruti has lagged behind. While its dominance in the internal combustion engine (ICE) segment is clear, the next decade will test its ability to transition into electric mobility without compromising profitability.
Still, Maruti’s inclusion among the world’s most valuable automakers is a milestone that underscores both the company’s resilience and the growth potential of India’s automotive market.
Conclusion
From being a domestic leader in compact cars to now standing alongside global automotive titans, Maruti Suzuki’s journey reflects both strategic execution and favorable policy support. With a market capitalization of $57.6 billion, the company has redefined its place in the global industry rankings, outpacing legacy carmakers and delivering record-breaking performance in India.
As festive demand continues and GST reforms fuel affordability, Maruti Suzuki appears poised to sustain its upward trajectory — a development that cements its role as not just India’s largest carmaker, but also a global automotive force.
Disclaimer: This blog article references information originally published on Business Standard. All credit for the primary reporting and statements belongs to the original source. We have curated and presented the content here solely for informational and educational purposes, without claiming ownership of the original reporting.
