Suzuki overtakes Honda as Japan’s second-biggest car brand

Suzuki has outsold Honda for the first time to become Japan’s second-best-selling automaker behind Toyota, its highest rank since it began making cars in 1955.

According to Nikkei Asia, Suzuki said it sold 3.55 million vehicles globally in the past Japanese financial year, which ran from April 1, 2025, to March 31, 2026, a seven per cent year-on-year increase.

Honda has reported sales of 3,371,664 units over the same timeframe, posting its first-ever annual financial loss since going public in 1957, while ceding second place to Suzuki for the first time.

“We’re not doing things to become number two; our mission is to build and sell cars that people will embrace,” Suzuki president Toshihiro Suzuki said during the earnings call revealing the milestone numbers.

The automaker posted a six per cent increase in consolidated net profit to a record ¥439.2 billion (A$4.6 billion), with revenue up eight per cent to ¥6.29 trillion (A$66.2 billion).

Suzuki has been immune to many of the significant obstacles facing its Japanese rivals in the past 12 months, as it doesn't operate in the world’s two largest new-car markets, China and the US.

In China, this has allowed Suzuki to avoid electric vehicle (EV) struggles experienced by Honda, Nissan, Mazda, Mitsubishi and Toyota.

By not operating in the US, Suzuki didn't suffer under convoluted, complex and ever-changing tariffs which brands including Ford and General Motors claimed cost them billions in revenue in 2025.

While avoiding issues facing automakers in China and the US, Suzuki said it will be impacted by the war in the Middle East, with an increase in supply-chain costs expected to affect profits in the coming year.

In its home market of Japan, Suzuki is the second-best-selling brand thanks in large part to its wide range of tiny kei cars.

Suzuki’s largest market is India, but despite leading sales there with a dominant 40 per cent market share, the company said it was wary of more Japanese brands – including Honda – entering the market.

Indian prime minister Narendra Modi recently issued a public plea for motorists to conserve fuel and work from home, which could also slow new-vehicle sales growth there.

New Zealand's Suzuki lineup includes the Indian-made Fronx SUV, five-door Jimny XL and the recently introduced e Vitara electric SUV.

Suzuki plans to increase its production capacity in India by almost 50 per cent to four million cars by 2030, with 500,000 of that coming this year as it targets 2.9 million by the end of 2026.

The brand’s other models sold in New Zealand, the Swift hatchback and three-door Jimny, are made in Japan, while the Vitara is imported here from Hungary.