Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, is an Indian automobile manufacturer, based in New Delhi. It was founded in 1981 and owned by the Government of India until 2003, when it was sold to the Japanese automaker Suzuki Motor Corporation.[2][7] As of February 2022 Maruti Suzuki has a market share of 44.2 percent in the Indian passenger car market.[8][9]
Maruti Suzuki India LimitedFormerlyMaruti Udyog LimitedTypePublic
Traded as
BSE: 532500
NSE: MARUTI
BSE SENSEX Constituent
NSE NIFTY 50 Constituent
ISININE585B01010IndustryAutomotiveFounded24 February 1981; 41 years ago[1]FounderGovernment of IndiaHeadquartersNew Delhi, India[2]
Area served
India
Key people
R. C. Bhargava[3] (Chairman)
Hishahi Takeuchi (Managing Director & CEO)[3]
Kenichi Ayukawa[3] (Executive Vice Chairman)
Products
Automobiles
Commercial vehicles
Automotive parts
Production output
 1,563,298 units (2020)[4]Services
Automotive finance
Vehicle service
Revenue ₹73,278.9 crore (US$9.2 billion) (2021)[5]
Operating income
 ₹5,159.4 crore (US$650 million) (2021)[5]
Net income
 ₹4,229.7 crore (US$530 million) (2021)[5]Total assets ₹70,067.4 crore (US$8.8 billion) (2021)[5]Total equity ₹52,500.6 crore (US$6.6 billion) (2021)[5]
Number of employees
16,025 (2021)[5]Parent
Suzuki Motor Corporation (56.37%)[6]
Websitewww.marutisuzuki.com
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Maruti Udyog Limited was founded by the Government of India on 24 Jan 1981 with Suzuki Motor Corporation as a minor partner, only to become the formal JV partner and license holder of Suzuki in August 2021.[10] The first manufacturing factory of Maruti was established in Gurugram, Haryana, in the same year.[11]
ChronologyEdit
Affiliation with Suzuki
In 1982, a license and joint venture agreement (JVA) was signed between Maruti Udyog Ltd., and Suzuki of Japan. At first, Maruti Suzuki was mainly an importer of cars. In India's closed market, Maruti received the right to import 2 fully built-up Suzuki in the first two years, and even after that, the early goal was to use only 33% indigenous parts. This upset the local manufacturers considerably. There were some concerns that the Indian market was too small to absorb the comparatively large production planned by Maruti Suzuki, with the government even considering adjusting the petrol tax and lowering the excise duty in order to boost sales.[12] Local production commenced in December 1983 with the introduction of the SS30/SS40 Suzuki Fronte/Alto-based Maruti 800.[13] In 1984, the Maruti Van with the same three-cylinder engine as the 800 was released and the installed capacity of the plant in Gurgaon reached 40,000 units.
In 1985, the Suzuki SJ410-based Gypsy a 970 cc 4WD off-road vehicle, was launched. In 1986, the original 800 was replaced by an all-new model of the 796 cc hatchback Suzuki Alto (SS80), and the 100,000th vehicle was produced by the company.[14] In 1987, the company started exporting to western markets, when a lot of 500 cars were sent to Hungary. By 1988, the capacity of the Gurgaon plant was increased to 100,000 units per annum.
Market liberalisation
In 1989, the Maruti 1000 was introduced and the 970 cc, three-box was India's first contemporary sedan. By 1991, 65 percent of the components, for all vehicles produced, were indigenized. After the liberalization of the Indian economy in 1991, Suzuki increased its stake in Maruti to 50 percent, making the company a 50-50 joint venture with the government of India as the other stakeholder.
In 1993, the Zen, a 993 cc engined hatchback was launched, and in 1994 the 1,298 cc Esteem sedan was introduced. Maruti produced its 1 millionth vehicle since the commencement of production in 1994. Maruti's second plant was opened with an annual capacity reaching 200,000 units. Maruti launched a 24-hour emergency on-road vehicle service. In 1998, the new Maruti 800 was released, being the first change in design since 1986. Zen D, a 1,527 cc diesel hatchback, Maruti's first diesel vehicle, and a redesigned Omni were introduced. In 1999, the 1.6-litre Maruti Baleno three-box sedan and Wagon R were also launched.
In 2000, Maruti became the first car company in India to launch a call center for internal and customer services. The new Alto model was released. In 2001, Maruti True Value, selling and buying used cars was launched. In October of the same year, the Maruti Versa was launched. In 2002, Esteem Diesel was introduced. Two new subsidiaries were also started: Maruti Insurance Distributor Services and Maruti Insurance Brokers Limited. Suzuki Motor Corporation increased its stake in Maruti to 54.2 per cent.
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