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Maruti Suzuki

Type Public (BSEMARUTI,NSEMARUTI)

Industry Automotive

Founded 1981 (as Maruti Udyog Limited)

Headquarters Delhi, India

Key people Mr. Shinzo Nakanishi, Managing

DirectorandCEO

Products Automobiles, Motorcycles

Revenue US$4.8 billion (2009)

Employees 6,903

Parent Suzuki Motor Corporation

Website MarutiSuzuki.com

Maruti Suzuki India Limited is a publicly listed automakerin India. It is the largest

automobilemanufacturerinSouth Asia.Suzuki Motor Corporation of Japan holds a

majority stake in the company. It was the first company in India to mass-produce and

sell more than a million cars. It is largely cred for having brought in an automobile

revolution to India. It is the market leader in India and on 17 September 2007, Maruti

Udyog Limited was renamed Maruti Suzuki India Limited. The company's

headquarters are located in Delhi.

Profile

The old logo of Maruti Suzuki India Limited. Later the logo of Suzuki Motor Corp. was also added to

it

Maruti Suzuki plant in Gurgaon.Maruti Suzuki is one of India's leading automobile manufacturers and the market

leader in the car segment, both in terms of volume of vehicles sold and revenue

earned. Until recently, 18.28% of the company was owned by the Indian government,

and 54.2% by SuzukiofJapan. The Indian government held an initial public offering

of 25% of the company in June 2003. As of 10 May 2007, Govt. of India sold its

complete share to Indian financial institutions. With this, Govt. of India no longer has

stake in Maruti Udyog.

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Maruti Udyog Limited (MUL) was established in February 1981, though the actual

production commenced in 1983 with the Maruti 800, based on theSuzuki Altokei car

which at the time was the only modern car available in India, its only competitors- the

Hindustan Ambassadorand Premier Padmini were both around 25 years out of date at

that point. Through 2004, Maruti Suzuki has produced over 5 Million vehicles. Maruti

Suzukis are sold in India and various several other countries, depending upon export

orders. Models similar to Maruti Suzukis (but not manufactured by Maruti Udyog) are

sold by Suzuki Motor Corporation and manufactured in Pakistan and otherSouth

Asian countries.

The company annually exports more than 50,000 cars and has an extremely large

domestic market in India selling over 730,000 cars annually. Maruti 800, till 2004,

was the India's largest selling compact car ever since it was launched in 1983. More

than a million units of this car have been sold worldwide so far. Currently,MarutiSuzuki Alto tops the sales charts and Maruti Suzuki Swift is the largest selling in A2

segment.

Due to the large number of Maruti 800s sold in the Indian market, the term "Maruti" is

commonly used to refer to this compact car model. Till recently the term "Maruti", in

popular Indian culture, in India Hindu's lord Hanuman is known as "maruti", was

associated to the Maruti 800 model.

Maruti Suzuki has been the leader of the Indian car market for over two decades.Its manufacturing facilities are located at two facilitiesGurgaon and Manesarsouth of

Delhi. Maruti Suzukis Gurgaon facility has an installed capacity of 350,000 units per

annum. The Manesar facilities, launched in February 2007 comprise a vehicle

assembly plant with a capacity of 100,000 units per year and a Diesel Engine plant

with an annual capacity of 100,000 engines and transmissions. Manesar and Gurgaon

facilities have a combined capability to produce over 700,000 units annually.

More than half the cars sold in India are Maruti Suzuki cars. The company is a

subsidiary of Suzuki Motor Corporation, Japan, which owns 54.2 per cent of Maruti

Suzuki. The rest is owned by the public and financial institutions. It is listed on the

Bombay Stock Exchange andNational Stock Exchange in India.

During 2007-08, Maruti Suzuki sold 764,842 cars, of which 53,024 were exported. In

all, over six million Maruti Suzuki cars are on Indian roads since the first car was

rolled out on 14 December 1983.

Maruti Suzuki offers 15 models, Maruti 800,Alto, WagonR, Estilo, A-star,Ritz,

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Swift,Swift DZire, SX4, Omni, Eeco, Gypsy, Grand Vitara. Swift, Swift DZire, A-

star and SX4 are manufactured in Manesar, Grand Vitara is imported from Japan as a

completely built unit (CBU), remaining all models are manufactured in Maruti

Suzuki's Gurgaon Plant.

Suzuki Motor Corporation, the parent company, is a global leader in mini andcompact cars for three decades. Suzukis technical superiority lies in its ability to pack

power and performance into a compact, lightweight engine that is clean and fuel

efficient.

Nearly 75,000 people are employed directly by Maruti Suzuki and its partners. It has

been rated first in customer satisfaction among all car makers in India from 1999 to

2009 by J D Power Asia Pacific.

Partner for the joint venture

Pressure started mounting on Indira and Sanjay Gandhi to share the details of the

progress on the Maruti Project. Since country's resources were made available by

mother to her son's pet project. A delegation of Indian technocrats was assigned to

hunt a collaboratorfor the project. Initial rounds of discussion were held with the

giants of theautomobile industry in Japan includingToyota,Nissan andHonda.

Suzuki Motor Corporation was at that time a small player in the four wheelerautomobile sector and had major share in the two wheeler segment. Suzuki's bid was

considered negligible.

In the initial rounds of discussion the giants had their bosses present and in the later

rounds related to the technical discussions executives of these automobile giants were

present. Osamu Suzuki, Chairman and CEO of the company ensured that he was

present in all the rounds of discussion. Osamu in an article writes that it subtly

massaged their (Indian delegation) egos and also convinced them about the sincerity

of Suzuki's bid. In the initial days Suzuki took all steps to ensure the government

about its sincerity on the project. Suzuki in return received a lot of help from the

government in such matters as import clearances for manufacturing equipment

(against the wishes of the Indian machine tool industry then and its own socialistic

ideology), land purchase at government prices for setting up the factory Gurgaon and

reduced or removal of excise tariffs. This helped Suzuki conscientiously nurse Maruti

Suzuki through its infancy to become one of its flagship ventures.

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Joint venture related issues

Maruti Suzuki'sA-Starvehicle during its unveiling inPragati Maidan, Delhi.A-Star, Suzuki's fifth

global car model, was designed and is made only in India. Besides being Suzuki's largest subsidiary in

terms of car sales, Maruti Suzuki is also Suzuki's leading research and development arm outside Japan

Relationship between the Government ofIndia, under the United Front (India)

coalition and Suzuki Motor Corporation over thejoint venture was a point of heated

debate in the Indian media till Suzuki Motor Corporation gained the controlling stake.

This highly profitable joint venture that had a near monopolistic trade in the Indian

automobilemarket and the nature of the partnership built up till then was the

underlying reason for most issues. The success of the joint venture led Suzuki to

increase its equity from 26% to 40% in 1987, and further to 50% in 1992. In 1982

both the venture partners had entered into an agreement to nominate their candidate

for the post of Managing Director and every Managing Director will have a tenure of

five years.

Initially R.C.Bhargava, was the managing director of the company since the inception

of the joint venture. Till today he is regarded as instrumental for the success of Maruti

Suzuki. Joining in 1982 he held several key positions in the company before heading

the company as Managing Director. Currently he is on the Board of Directors. After

completing his five year tenure, Mr. Bhargava later assumed the office of Part-TimeChairman. The Government nominated Mr. S.S.L.N. Bhaskarudu as the Managing

Director on 27 August 1997. Mr. Bhaskarudu had joined Maruti Suzuki in 1983 after

spending 21 years in the Public sector undertaking Bharat Heavy Electricals Limited

as General Manager. Later in 1987 he was promoted as Chief General Manager, 1988

as Director, Productions and Projects, 1989 Director, Materials and in 1993 as Joint

Managing Director.

Suzuki Motor Corporation didn't attend the Annual General Meeting of the Board

with the reason of it being called on a short notice. Later Suzuki Motor Corporation

went on record to state that Mr. Bhaskarudu was "incompetent" and wanted someone

else. However, the Ministry of Industries, Government of India refuted the charges.

Media stated from the Maruti Suzuki sources that Bhaskarudu was interested to

indigenise most of components for the models including gear boxes especially for

Maruti 800. Suzuki also felt that Bhaskarudu was a proxy for the Government and

would not let it increase its stake in the venture. If Maruti Suzuki would have been

able to indigenise gear boxes then Maruti Suzuki would have been able to

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manufacture all the models without the technical assistance from Suzuki. Till today

the issue of localization of gear boxes is highlighted in the press.

The relation strained when Suzuki Motor Corporation moved to Delhi High Court to

bring a stay order against the appointment of Mr. Bhaskarudu. The issue was resolved

in an out-of-court settlement and both the parties agreed that R S S L N Bhaskaruduwould serve up to 31 December 1999, and from 1 January 2000, Jagdish Khattar,

Executive Director of Maruti Udyog Limited would assume charges as the Managing

Director.Many politicians believed, and had stated in parliament that the Suzuki

Motor Corporation is unwilling to localize manufacturing and reduce imports. This

remains true, even today the gear boxes are still imported from Japan and are

assembled at the Gurgaon facility.

Industrial relations

For most of its history, Maruti Udyog Limited had relatively few problems with its

labour force. Its emphasis of a Japanese work culture and the modern manufacturing

process, first instituted in Japan in the 1970s, was accepted by the workforce of the

company without any difficulty. But with the change in management in 1997, when it

became predominantly government controlled for a while, and the conflict between

the United Front Government and Suzuki may have been the cause of unrest among

employees. A major row broke out in September 2000 when employees of Maruti

Udyog Ltd (MUL) went on an indefinite strike, demanding among other things,

revision of the incentive scheme offered and implementation of a pension scheme.

Employees struck work for six hours in October 2000, irked over the suspension of

nine employees, going on a six-hour tools-down strike at its Gurgaon plant,

demanding revision of the incentive-linked pay and threatened to fast to death if the

suspended employees were not reinstated. About this time, the NDA government,

following a disinvestments policy, proposed to sell part of its stake in Maruti Suzuki

in a public offering. The Staff union opposed this sell-off plan on the grounds that the

company will lose a major business advantage of being subsidised by the

Government.

The standoff with the management continued to December with a proposal by the

management to end the two-month long agitation rejected with a demand for

reinstatement of 92 dismissed workers, with four MUL employees going on a fast-

unto-death. In December the company's shareholders met in New Delhi in an AGM

that lasted 30 minutes. At the same time around 1500 plant workers from the MUL's

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Gurgaon facility were agitating outside the company's corporate office demanding

commencement of production linked incentives, a better pension scheme and other

benefits. The management has refused to pass on the benefits citing increased

competition and lower margins.

Services offered

Current sales of automobiles

Maruti 800

Maruti Omni

India's Corps of Military Police personnel patrolling the Wagah border crossing in the Punjab in a

Maruti Gypsy.

Maruti Alto

Maruti Suzuki Swift

Maruti Suzuki Zen Estilo

Suzuki SX4

5th Generation Suzuki Altois sold as Maruti Suzuki A-StarinIndia.

Maruti Suzuki Swift DZire

Suzuki Splash is sold as Maruti Suzuki Ritz in India.

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Manufactured locally

1. 800 (Launched 1983)

2. Omni (Launched 1984)

3. Gypsy (Launched 1985)

4. WagonR(Launched 2000)5. Alto (Launched 2000)

6. Swift (Launched 2005)

7. Estilo (Launched 2009)

8. SX4 (Launched 2007)

9. Swift DZire (Launched 2008)

10. A-star(Launched 2008)

11. Ritz (Launched 2009)

12. Eeco (Launched 2010)

Imported

Suzuki Grand Vitara

1. Grand Vitara (Launched 2007)

Discontinued car models

Maruti Zen

Maruti Baleno

The recently discontinued Maruti Suzuki Versa.

Suzuki XL7 was sold as Suzuki Grand Vitara XL7

1. 1000 (19901994)

2. Zen (19932006)

3. Esteem (19942008)

4. Baleno (19992007)

5. Zen Estilo (2006-2009)

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6. Versa (20012010)

7. Grand Vitara XL7 (20032007)

Manufacturing facilities

Maruti Suzuki has two state-of-the-art manufacturing facilities in India. Bothmanufacturing facilities have a combined production capacity of 1,000,000 vehicles

annually.

Gurgaon Manufacturing Facility

The Gurgaon Manufacturing Facility has three fully integrated manufacturing plants

and is spread over 300 acres. All three plants have an installed capacity of 350,000

vehicles annually but productivity improvements have enabled it to manufacture

700,000 vehicles annually. The Gurgaon facilities also manufacture 240,000K-Series

engines annually. The entire facility is equipped with more than 150 robots, out of

which 71 have been developed in-house. The Gurgaon Facilities manufactures the

800, Alto,WagonR, Estilo, Omni ,Gypsy, Swiftand Eeco.

Manesar Manufacturing Facility

The ManesarManufacturing Plant was inaugurated in February 2007 and is spread

over 600 acres. Initially it had a production capacity of 100,000 vehicles annually but

this was increased to 300,000 vehicles annually in October 2008. The Manesar Plant

produces the A-star, Swift, Swift DZire and SX4.

Sales and service network

Maruti Suzuki is one of the companies in India which has unparalleled sales and

service network. As of June 2010 it currently has 800-plus dealerships across more

than 500 cities in India. It plans to expand total number of dealerships to 1,000. Toensure the vehicles sold by them are serviced properly, Maruti Suzuki has 800-plus

dealer workshops, 1,945 Maruti Authorized Service Stations and 30 Express Service

Stations on 30National Highways across 1,314 cities in India.

Service is a major revenue generator of the company. Most of the service stations are

managed on franchise basis, where Maruti Suzuki trains the local staff. Other

automobile companies have not been able to match this benchmark set by Maruti

Suzuki. The Express Service stations help many stranded vehicles on the highways by

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sending across their repair man to the vehicle.

Maruti Insurance

Launched in 2002 Maruti Suzuki provides vehicle insurance to its customers with the

help of the National Insurance Company, Bajaj Allianz, New India Assurance andRoyal Sundaram. The service was set up the company with the inception of two

subsidiaries Maruti Insurance Distributors Services Pvt. Ltd and Maruti Insurance

Brokers Pvt. Limited.

This service started as a benefit or value addition to customers and was able to ramp

up easily. By December 2005 they were able to sell more than two million insurance

policies since its inception.

Maruti Finance

To promote its bottom line growth, Maruti Suzuki launched Maruti Finance in January

2002. Prior to the start of this service Maruti Suzuki had started two joint ventures

Citicorp Maruti and Maruti Countrywide with Citi Group and GE Countrywide

respectively to assist its client in securing loan. Maruti Suzuki tied up with ABN

Amro Bank, HDFC Bank, ICICI Limited, Kotak Mahindra, Standard Chartered Bank,

and Sundaram to start this venture including its strategic partners in car finance. Again

the company entered into a strategic partnership with SBI in March 2003 . Since

March 2003, Maruti has sold over 12,000 vehicles through SBI-Maruti Finance. SBI-

Maruti Finance is currently available in 166 cities across India.

"Maruti Finance marks the coming together of the biggest players in the car finance business.

They are the benchmarks in quality and efficiency. Combined with Maruti volumes and

networked dealerships, this will enable Maruti Finance to offer superior service and

competitive rates in the marketplace".

Jagdish Khattar, Managing director of Maruti Udyog Limited in a press conferenceannouncing the launch of Maruti Finance on 7 January 2002

Citicorp Maruti Finance Limited is a joint venture between Citicorp Finance India and

Maruti Udyog Limited its primary business stated by the company is "hire-purchase

financing of Maruti Suzuki vehicles". Citi Finance India Limited is a wholly owned

subsidiary of Citibank Overseas Investment Corporation, Delaware, which in turn is a

100% wholly owned subsidiary of Citibank N.A. Citi Finance India Limited holds

74% of the stake and Maruti Suzuki holds the remaining 26%. GE Capital, HDFC and

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Maruti Suzuki came together in 1995 to form Maruti Countrywide.Maruti claims that

its finance program offers most competitive interest rates to its customers, which are

lower by 0.25% to 0.5% from the market rates.

Maruti TrueValueMain Article: Maruti True Value

Maruti True service offered by Maruti Suzuki to its customers. It is a market place for

used Maruti Suzuki Vehicles. One can buy, sell or exchange used Maruti Suzuki

vehicles with the help of this service in India. As of 2009 there are 315 Maruti True

Value outlets.

N2N Fleet ManagementN2N is the short form ofEnd to End Fleet Management and provides lease and fleet

management solution to corporates. Its impressive list of clients who have signed up

of this service include Gas Authority of India Ltd,DuPont, Reckitt Benckiser, Sona

Steering, Doordarshan, Singer India, National Stock Exchange and Transworld. This

fleet management service include end-to-end solutions across the vehicle's life, which

includes Leasing, Maintenance, Convenience services and Remarketing.

Accessories

Many of the auto component companies other than Maruti Suzuki started to offer

components and accessories that were compatible. This caused a serious threat and

loss of revenue to Maruti Suzuki. Maruti Suzuki started a new initiative under the

brand name Maruti Genuine Accessories to offer accessories like alloy wheels, body

cover, carpets, door visors, fog lamps, stereo systems, seat covers and other car care

products. These products are sold through dealer outlets and authorized service

stations throughout India.

Maruti Driving School

A Maruti Driving School in Chennai

As part of its corporate social responsibility Maruti Suzuki launched the Maruti

Driving School in Delhi. Later the services were extended to other cities of India as

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well. These schools are modelled on international standards, where learners go

through classroom and practical sessions. Many international practices like road

behaviour and attitudes are also taught in these schools. Before driving actual vehicles

participants are trained on simulators.

"We are very concerned about mounting deaths on Indian roads. These can be brought downif government, industry and the voluntary sector work together in an integrated manner. But

we felt that Maruti should first do something in this regard and hence this initiative of Maruti

Driving Schools."

Jagdish Khattar, at the launch ceremony of Maruti Driving School, Bangalore

Issues and problems

On February, 24, 2010, Maruti Suzuki India, announced recalling of 100,000 A-Starhatchbacks to fix a fuel leakage problem. the company will replace the gaskets for all

100,000 A-Star cars.

Exports

Maruti Exports Limited is the subsidiary of Maruti Suzuki with its major focus on

exports and it does not operate in the domestic Indian market. The first commercial

consignment of 480 cars were sent to Hungary. By sending a consignment of 571 cars

to the same country Maruti Suzuki crossed the benchmark of 300,000 cars. Since its

inception export was one of the aspects government was keen to encourage. Every

political party expected Maruti Suzuki to earn foreign currency.

Angola, Benin, Djibouti, Ethiopia, Europe, Kenya, Morocco, Sri Lanka, Uganda,Chile, Guatemala, Costa Rica and El Salvador are some of the markets served byMaruti Exports.

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The specific aims of the study are to:

Analyze the current situation of demand and supply of freshorganic horticultural products in the main importing countriesand selected producing countries;

Provide estimates for further organic market development inthe short to medium term;

Identify market opportunities for organic horticultural productsin developed and developing countries;

Identify the constraints to be overcome by developingcountries in order to successfully produce and export organichorticultural products; andDefine strategy options for the development of the exportorganic horticultural sector.