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Maruti Suzuki is India’s leading car maker. Its car Maruti Swift is the largest selling car in A2 segment. The company enjoys majority of share in the small car market of India. The company was started as a joint venture between the Indian government and Suzuki Motor Corporation of Japan. Now Suzuki holds the majority stake in the venture.
Maruti Suzuki is the largest car maker in India. It cars top sales charts year after year. The company became the fist car maker in India to produce and sell more than a million cars. Earlier the company was known as Maruti Udyog, but was renamed as Maruti Suzuki India Limited on 17 September 2007. This publicly traded company is headquartered at Gurgaon, Haryana.
Earlier the Indian government held 18.28% of Maruti Suzuki. Later the government sold its stake to Indian financial institutions during the company’s initial public offering in June 2003. Now, the government holds no stake in the company.
Established in February 1981, Maruti Suzuki started production in 1983 with its flagship brand 800. The car became a huge success. At that time the car had competition in the form of old models like Hindustan Ambassador and Premier Padmini. Maruti 800 soon became the best selling car in the Indian market, the position it held till 2004.
Maruti caters to the huge domestic car market and sells over 730,000 cars annually. The company also exports more than 50,000 cars per annum. As of now, its model Alto is the largest selling car in India.
The success of Maruti has largely to do with its understanding of the Indian consumers. The company understands the need of the consumers and have come up with small and less expensive cars for the market. It is seen that in India, where most the roads are in bad shape, small cars deliver better performance. Indians are price conscious. So pricing a car at a low bracket is a smart strategy of the company.
Maruti has been successful in maintaining its leadership position over the years. After the liberalization of economy many foreign car companies came to India to do business, but no one was able to beat Maruti Suzuki at its game. And Maruti Swift continues to be a best-seller.
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Source by Gurg Sumit Kumar
