INTRODUCTION
Maruti Suzuki India Limited (NSE: MARUTI, BSE: 532500) is a partial subsidiary of Suzuki Motor Corporation of Japan. It has been the
leader of the Indian car market in the passenger car segment for over two
decades accounting for over 45% of the market share.
The
company offers a wide range of cars across different segments. It offers 15
brands and over 150 variants - Maruti 800, people movers, Omni and Eeco,
international brands Alto, Alto-K10, A-star, WagonR, Swift, Ritz and Estilo,
off-roader Gypsy, SUV Grand Vitara, sedans SX4, Swift DZire and Kizashi. In an
environment friendly initiative, in August 2010 Maruti Suzuki introduced
factory fitted CNG option on 5 models across vehicle segments. These include
Eeco, Alto, Estilo, Wagon R and Sx4.
It was the first company in India to mass-produce and sell
more than a million cars. It is largely credited 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 New Delhi.
A BRIEF HISTORY
In February 1981 Maruti Udyog Limited (MUL)
was incorporated under the provisions of the Indian Companies Act, 1956.
A license and
Joint Venture Agreement was signed between Government of India and Suzuki Motor
Company (now Suzuki Motor Corporation of Japan) in October 1982. It
manufactured India's first affordable cars though the actual production
commenced in 1983. On 14th December, 1983, first Maruti 800,
India's iconic car rolled-off the assembly line at company's Gurgaon plant.
Late Mrs. Indira Gandhi, the then Prime Minister of India, handed over keys for
this car to the first Maruti customer. By 1992 SMC had acquired a majority
stake in MUL (increases to 54.2%). In 1990's when the
economy was liberalized and foreign investment allowed into India, the auto
component companies, set up and nurtured by Maruti Suzuki, became the foundation
for global car companies as well. These new players on the Indian automobile
scene found an accomplished and experienced auto component industry, which
encouraged further foreign direct investment into India. With the entry of
foreign players into the automobile sector MUL was forced to become more
competitive and aggressive in its marketing strategy in order to maintain its
market share. What followed was a series of successful product launches and by
2003 it got listed on the BSE and NSE. In 2007 the Board of Directors of
the company gave approval to change the name MUL to Maruti Suzuki India Limited. In 2008 M-800 crossed the 25 lakh mark and MSIL celebrated its Silver Jubilee. By 2009
MSIL’s Capacity to manufacture expanded from 800,000 to a million units
(Gurgaon plus Manesar plants) annually.
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