From humble beginnings to global influence, explore local manufacturing, export growth, and the new era of ‘Maruti Suzuki 3.0’
Maruti Suzuki India Limited, a stalwart in the Indian automotive industry, has unveiled its much-anticipated Annual Integrated Report for the Fiscal Year 2022-23. The report, aptly titled ‘Maruti Suzuki 3.0’, provides a comprehensive overview of the company’s remarkable evolution and outlines its visionary path for the future.
Pioneering Excellence: From Humble Beginnings to Global Influence
With a history spanning over four decades, Maruti Suzuki has played a pivotal role in shaping the contours of the Indian automobile landscape. Starting from a modest annual production of approximately 20,000 cars, the company has achieved a monumental milestone, manufacturing nearly 2 million vehicles in the fiscal year 2022-23. This remarkable growth has not only delighted over 27 million customers in India but has also extended its impact to around 100 countries worldwide.
Cultivating Ecosystems: Maruti Suzuki’s Role in Local Component Manufacturing
A defining chapter in Maruti Suzuki’s narrative is its instrumental role in fostering a robust local component manufacturing system. The company’s proactive efforts to expand its network, introduce innovative products, and integrate advanced technologies have firmly established its leadership position in the industry. This commitment to building a comprehensive value chain has propelled Maruti Suzuki towards a new phase of growth, characterized by both manufacturing scale and sustainability.
The Phases of Progress: Charting Maruti Suzuki’s Trajectory
Mr. R. C. Bhargava, Chairman of Maruti Suzuki India Limited, offers an insightful perspective on the company’s journey. He delineates distinct phases, from its origins as a public enterprise to its current status as a global automotive force. The seismic shifts brought about by the COVID-19 pandemic and the exponential growth of the Indian car market underscore the dynamic nature of Maruti Suzuki’s evolution. Notably, Mr. Bhargava highlights the company’s ambitious goal of adding an additional 2 million units of production within a span of 9 years.
Mr. R. C. Bhargava said, “Our first phase was when we were a public enterprise. The second phase ended with the COVID-19 pandemic, and the Indian car market became the third largest in the world… It took us 40 years to create a capacity of 2 million units and Suzuki Motor Corporation helped in this process by establishing the Gujarat facility. Your Company now has to add the next 2 million in a period of 9 years. Our exports rose to 259,000 units last year. We expect the demand for exports to continue to grow and export volumes are projected at 750,000-800,000 cars by FY 2030-31.”
Global Horizons: Maruti Suzuki’s Exponential Export Growth
Amidst the complexities of the global economy, Maruti Suzuki’s exports have soared to new heights. The past year witnessed a surge in exports, reaching an impressive 259,000 units. This remarkable feat is poised to gain even greater momentum, with projected export volumes of 750,000-800,000 cars by the fiscal year 2030-31. This export-driven trajectory underscores Maruti Suzuki’s global prominence and underscores its commitment to adaptability and international success.
Shaping the Future: ‘Maruti Suzuki 3.0’ – A New Chapter
Mr. Hisashi Takeuchi, Managing Director & CEO of Maruti Suzuki India Limited, offers his insights on the company’s imminent transformation. As Maruti Suzuki scales up its production capacities, introduces cutting-edge carbon reduction technologies, and unveils an exciting array of new products, it ushers in a new chapter – ‘Maruti Suzuki 3.0’. This phase represents a momentous juncture, highlighting the company’s unswerving dedication to innovation, sustainability, and continued growth.
Mr. Hisashi Takeuchi said, “With expanding capacity, offering multiple carbon reduction technologies, bringing many new products, we are writing a new chapter in the history of the Company – ‘Maruti Suzuki 3.0’.”
