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8/27/08
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Market
As early as 2005, when domestic industry
crystal gazers were refusing to predict the
future of Indias car market with any certainty,
Keystone, a US-based subsidiary of LaSalle
Consulting Associates, announced that India
would become the world's third largest
automobile market by 2030, behind just China
and the US.
Today, there is little to cast doubt on the
accuracy of this forecast. A combination of
private entrepreneurship and recent
government policies has sent the Indian car
market vrrroooming. Market volumes have
surged and demand for all types of cars from
luxury models to SUVs to mini-cars has reached
new heights.
The small car segment, however, still rules the
Indian market and Maruti Suzuki retains its
dominance. Osamu Suzuki, the head of Japan's
Suzuki Motor Corporation has announced plans
to beef up its vehicle line-up and dealer
network to keep the companys present Indian
market share of at least 50% for eternity.
Over the past 25 years, Maruti Suzuki has
created, defined and redefined the automobile
market in India. In 1982, when the landmark
Gurgaon facility was set up, India bought barely
40,000 cars a year. Today, India is more than a
million-cars-a-year market, one of the worlds
largest and fastest growing.
Yet, despite this growth, car penetration in
India remains small, lower than even countries
like Sri Lanka and Pakistan. Maruti Suzuki is
preparing for the explosive potential of the
Indian car market of the future with huge
investments in manufacturing infrastructure. It is
also preparing a range of new models designed
to reflect the aspirations of the increasingly
globalised new Indian car buyer.
Achievements
The saga of this company has been an odyssey
of opportunity, challenge, growth, social levelling,
mobility and the visible excitement it
brought to an entire nation. Though over 25
manufacturers offer nearly 80 models to Indian
car buyers, Maruti Suzuki continues to retain its
leadership. With perceivable benefits of quality,
reliability, technology, performance,
trustworthiness and service, it dominates the
largest market segment affordable, valuepacked, fuel-efficient cars and is scoring
significant successes in fast-growing upper
segments as well. Maruti Suzuki also has fully
operational, Indias largest service
network, spanning over 1200
towns and cities.
Maruti Suzukis
greatest
achievement
has been the
special niche it
has carved for
itself with
customers.
This is
reflected in
the fact that
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no car
manufacturer
Maruti Suzuki
apart has been
ranked first in
customer
satisfaction eight
years in a row
(Source: J D
Power Customer
Satisfaction Index
Study Asia-Pacific
2000-07). The
company has also
been rated
amongst the
worlds top five
car manufacturers
in the Forbes
Worlds Most
Reputed
Companies
List, 2006.
The companys record
stands at 7 million cars
manufactured to date
thats more than two-thirds
of all cars on Indian roads.
High standards set by Maruti
Suzuki for productivity
and environmental
and corporate social
responsibility have become
benchmarks for the industry.
These achievements,
however, transcend sales and
manufacturing figures. The
real story of Maruti Suzuki is
the seminal impact it has
had on Indias industrial growth, development
and the expectations it has raised amongst
consumers across all categories of products.
The persistent refrain of a quality culture has
created a huge network of world-class vendors
and ancillaries that have, in a dominoes-type
affect, swelled the ranks of Indias middle class
who aspire, demand and are, in turn, willing to
deliver quality products and services.
In the social sphere, the new mobility granted
by the companys cars expanded vistas, boosted
travel and tourism sectors, galvanised interstate
History
Maruti Suzuki was incorporated as Maruti
Udyog Limited (MUL) in 1981, as a joint venture
of the Indian government and Suzuki Motor
Corporation of Japan. The first Maruti 800 rolled
out on 14th December 1983 sparking off a
revolution in automobiles.
Other car launches followed and soon the
foundation for Indias largest service network
was laid.
In 1992, the Suzuki Motor
Corporation
increased its stake
to 50%. In 2002,
it bought a
controlling
interest in the
company. In 2003
MUL was listed
on the Nationaland the Bombay
Stock Exchanges
after its initial
public offer was
oversubscribed
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Product
Brand Values
www.marutisuzuki.com
Recent Developments
With the increased role of MSIL in the global
operations of Suzuki, the company has
earmarked Rs. 9000 crore (US$ 2.25 billion)
for research in India. This is a major step in
realising Suzuki Motor Corporations
commitment to turning India into Asias
R&D hub for automobiles.
The inauguration of the ultramodern
Manesar plant in 2007 with a capacity to
manufacture 300,000 cars will also push MSIL
past 1 million cars by 2010/11 and help it
occupy a position of prestige and eminence
in Suzukis worldwide operations.
Promotion
While most car manufacturers bank on staid,
product-only centric communications, Maruti
Suzuki prefers to project and promote the
strong and confident face of its consumer in its
brand outreach strategy. This should come as no
surprise. The truth after all is that having outsold
all manufacturers Maruti Suzuki has a bigger
consumer success story to tell than everyone
else put together. In Maruti Suzukis scheme of
things a happy consumer face is worth an awful
lot more than just a vehicles grill or its
instrument panel.
The consumer, apart, the companys
communications has kept pace with the
changing trends and aspirations of the market.
As a result Maruti Suzukis advertising relates to
its audience by appealing to both heart and
head. Several campaigns have captured the
imagination of customers and have gone on to
becoming iconic statements. Kaancha and Ki
karein petrol khatam hi nahi hunda are some of
the memorable commercials to come out of the
companys stables.
Maruti Suzuki has also pioneered the
growth of the digital media and has created
popular properties like the Maruti Suzuki
cricket ratings.
Maruti Suzuki
By 2010 Maruti Suzuki India will contribute
about one third to Suzukis global car volumes
Concept A-Star was showcased in the Auto
Expo 2008. A production model especially
developed for India, jointly by engineers in India
and Japan, will be launched later in the year
A-Star manufactured in India will also be
marketed and sold in Europe
Under an agreement with the Government of
Haryana, Maruti Suzuki is modernising four ITIs
by bringing in new technology, modern
equipment and the latest teaching aids
Four villages in Haryana Kasan, Alihar, Dhana
and Baas have been adopted by Maruti
Suzuki to develop health care, employment,
education and infrastructure
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