History of Maruti Suzuki India Ltd.
YEAR EVENTS 2000 - The Comp. was awarded the 'Highest Exporter Award' in New Delhi.
- ICRA has assigned `LAAA' rating to the Rs. 200-crore long-term non-convertible debenture programme & `A1+' rating to the Rs. 100-crore commercial paper programe of company.
- The Comp. has launched a new Web site for its recently introduced passenger car, the Wagon-R - www.marutiwagonr.com.
- The Comp. has decided to introduce a new variant of Zen specially designed for handicapped by end of year.
- The Comp. will issue bonds for Rs 200 crore at ICICI Securities & Finance Ltd.
- The Comp. has proposed to set up a dealership on the Internet for new models.
- Maruti Udyog Ltd & Ashok Leyland Ltd [ALLs] have been selected for IRTE National Award, in recognition of their efforts towards promoting the cause of road safety, traffic managemen & environment protection.
- Maruti Udyog limited has taken the Zen Acc. away from Lintas Lowe and Partners and granted it to Rediffusion DY&R.
- The Comp. is launching Baleno station wagon version - Baleno Altura on September 1.
- Maruti Udyog is launching the Wagon R with electric power steering in two variants.
- Maruti Udyog limited has discontinued two of its models - Maruti 1000 & Gypsy 1000 - as part of efforts to 'rationalise' product range.
- Sumitomo of Japan is picking up a 47.5 per cent stake in a joint venture with Maruti Udyog Ltd for providing after sales care & service for Maurti vehicles.
- Maruti Udyog limited suspended vehicle production for two days on September 19 & 20 due to huge inventories of 12,000-odd units at the factory. The Comp. resumed the production on September 21.
- Maruti Udyog limited has introduced its long-awaited small car -- the Suzuki Alto in two versions, the 796cc Alto LX & the 1,061cc Alto VX 1.1.
- Production at the manufacturing facilities of Maruti Udyog limited came to a grinding halt on 13th of October when the employees of Comp. refused to sign a `Good Conduct Undertaking'.
- Maruti Cars have overtaken hitherto popular Japanese brands to become the number one favourite among Sri Lankans.
- The Comp. has launched a programme in alliance with GE Capital to provide information on the company vehicles & services.
- The Strike at the Gurgaon plant for over three months, relented & signed an agreemeent with the management.
2001 - Rights issue of equity in Maruti Udyog Ltd, which would lead to an eventual sell-off of the Government equity in the passenger car joint venture.
- Maruti Udyog is launching its first factory-fitted CNG vehicle in a bid to promote use of eco-friendly vehicles in the domestic market.
- Maruti Udyog sold 37,490 units in March 2001, 28 per cent more than in February, when it sold 29,569 passenger cars.
- Maruti Udyog limited has awarded the Maruti Genuine Paints status to ICI Ltd ICI Autocolor 2K.
- MARUTI Udyog will invest Rs 550 crore in the current fiscal besides targeting an over 24 per cent rise in turnover at Rs 11,500 crore
- Government secures the involvement of FIs in its attempt to disinvest in Maruti Udyog Ltd.
- India largest carmaker Maruti Udyog on on August 23rd launched a variant of its premium small car model 'Alto'. The new model 'Alto vxi' would be equipped with Maruti true response electronic power steering which is safe & provides better steering control at high speed, a Comp. official said.
- Maruti Udyog Ltd on September 24 notified its proposed voluntary retirement scheme [VRSs] expected to trim its 5,700 strong workforce by around 20 per cent. Close to 1,000 employees shopfloor workmen & office staff can avail the month-long VRS aimed at boosting profitability.
-Maruti Udyog Ltd first voluntary retirement scheme [VRSs], which closed on October23, has found about 1,000 takers.
2002
-The government on May 14, 2002 set into motion big-ticket disinvestment in 2002-03 by announcing a two-stage process to exit from Maruti Udyog Ltd, a joint venture with Suzuki Motor Company.
-Announcing the decision, Disinvestment Minister Arun Shourie said a Rs 400 crore rights issue to be completely picked up by Suzuki at Rs 3,280 per share will be accompanied by Japanese auto major paying a control premium of Rs 1,000 crore for gaining a majority stake.
-Launches Maruti Finance to offer value-added services such as extended warranty, additional service, finance for car insurance & genuine Maruti accessories
-Steps into auto accessories business
-Hikes prices of its cars with effect from 28th Jan 2002
-Launches Versa, the multi purpose vehicle, in deluxe version
-Maruti Udyog in a tie up with Gas Authority of India enters into business of corporate lease & finance management under the brand name of N2N
-Ventures into pre owned cars business branded True value
-Introduces upgraded versions of Wagon-R
-Special edition of Maruti 800 car launched under the name Maruti 800 Special
-Stops production in one of its manufacturing plants & shifts most of its production to the other two for next financial year
-Govt & Suzuki finalise pricing over Maruti Rights Issue
-Offers optional extended warranty cover for four years for all its vehicles purchased after April 1, 2002
-ICRA gives highest safety ratings to Maruti issue
-Extends its Maruti Finance service to customers in Maharashtra & Goa
-Bags 16,000 Alto export order from Europe
-Unveils Alto variant [Alto LXis] with electronic power steering
-Suzuki renominates Jagdish Khattar as MD
-Steps into lease & fleet management by signing up with leading corporates such as DuPont, Gas Authority of India [Gails], Reckitt and Benckiser & Sona Koyo which will help client companies in acquiring & maintaining their fleet
-Suzuki takes over control in Maruti Udyog by hiking its stake in the Comp. from 50% to 54.2%, Maruti Udyog becomes the subsidiary of Suzuki
-Suzuki restructures the company Board of Directors, appoints Shinzo Nakanishi as the new chairman & non-retiring part-time director. Jagadish Khattar continues to be MD
-Suzuki Motor Corporation [SMCs] subscribes the rights issue of Maruti Udyog for Rs 399 crore
-Suzuki takes control of Maruti Udyog
-MUL, Daewoo, HM tie-up with Rohan Auto for LPG Kits
-Unveils WagonR Pride, special limited edition version of its premium small car WagonR
-Unveils Esteem Diesel version
-Maruti market share hits an all-time low of 42 per cent in July
-Maruti ranked as the leading player in dealer service
2003
-Unveils ' Change Your Life' campaign to attract customers
-Increases prices owing to higher input costs
-Ties up with Reliance Industries Ltd [RILs] & its group companies for its business of lease & fleet management
-Smart memory card rolled out by its service centre, Sharath Motors, can store information on the car history, insurance, maintenance & all documents. The `Zoom' card comes with a personal accident cover for Rs 1 lakh
-Enters into an agreement with State Bank of India [SBIs] under which, each of 12,000 branches of India largest commercial bank is expected to sell one car per month
-Launches its new AC version E2 M800 car
-Kicks off the scheme of rewarding existing Maruti vehicle owners with a `loyalty bonus' ranging from Rs 8,000 to Rs 25,000 on exchange of their cars for a new Zen, WagonR, Alto, Esteem or Baleno
-Launches a new limited edition version of its small car, Alto. Named `Alto Celebration'
-Launches its new Sports Utility Vehicle [SUVs] 'Grand Vitara XL-7', the 2700 cc vehicle, priced at Rs 15.96 lakh for standard version & Rs 16.77 lakh for limited edition variant
-Forges a tie-up with State Bank of India [SBIs] for offering co-branded financing option for buyers of Maruti vehicles [SBI-Maruti Finances]
-Rolls out its four millionth vehicle
-FIPB bans Overseas Corporate Bodies [OCBs] from Maruti IPO
-Central government picks up 0.23 per cent equity owned by employees' trust in Maruti Udyog limited [MULs]
-Suzuki grants 10% discount on components to MUL
-Alto overtakes Zen, WagonR in growth during 2002-03
-Suzuki gives govt undertaking to hold min 26-pc in MUL post IPO
-MUL & Sumitomo Corp. of Japan increase their equity stakes to 49 per cent each in JJ Impex, a joint venture between the two, from around 47 per cent each
-Increases its car market share from 50% to about 55% in last fiscal
-Fixes Rs 115 as floor price for IPO
-Resumes full-scale production at Gurgaon plant
-Comes out with public issue, oversubscribed 7.82 times
-Achieves 30-pc market share of Jammu used-car market
-Govt fixes Maruti IPO at Rs 125 per share
-Kumar Mangalam Birla inducted on Maruti board as Independent Director
-Gets listed at 25.6% premium at Rs 157, on the BSE
-Increases the cost of its family cars by around Rs 350-1,926
-Ties up with State Bank of Mysore [SBMs] to offer car finance
-Appoints Mr. Manvinder Singh Banga, Chairman, Hindustan Lever Ltd., as the fourth independent director on the Board of Company
-State Bank of Travancore [SBTs] & Maruti Udyog Ltd [MULs] enter in to an agreement to provide low interest loan to the persons who intend to by range of Maruti cars
-Union Bank of India forges alliance with Maruti Udyog limited for providing loans to Maruti customers at competitive rates
-Clocks 3 lakh units of exports
-Company included in Morgan Stanley Capital International [MSCIs] India Index
-Slashes Alto model price by Rs 23,167 [ex showroom, Delhis]
-Forays into an alliance with State Bank of Saurashtra [SBSs] to provide car finance
-Maruti Udyog Board approves VRS
-Maruti TrueValue, the company used car outlets, started dealing with pre-owned cars of all manufacturers
-The Comp. opened Aluminium foundry at Manesar, Harayana
-Unveils revamped Zen car
-Launches new version of Grand Vitara
-Maruti slashes workforce by 27% via VRS
2004
-Rises volume car prices by Rs 2000
-MUL unveils new after-sales facility in Chennai
-Unveils Versa Variant At Rs 3.27 Lakh
-Introduces a new cut-price version of its Alto compact car on April 8th priced at Rs 2,30,000 to help buyers upgrade from the cheaper Maruti 800.
- Maruti Udyog reduces the down payment figure to Rs 21,000, for purchasing India cheapest car Maruti 800 & extends the loan repayment period from seven to eight years which will bring down the equated monthly installment [EMIs] to Rs 2,499 from Rs 2,599
-Ties up with MRF to boost motorsports in India
-Maruti unveils 'Bike to Car' scheme in Ahmedabad
-ARBL ties up with MUL for battery supply
-Maruti join hands with Indiatimes to buy & sell used cars
-Maruti Udyog Ltd [MULs] ties with State Bank of India for car financing.
2005
- Announces a price hike of Rs 2,000-3,000 across models all models except Maruti-800 on January 5, 2005.
- Maruti Udyog Ltd rolls out a new-look Maruti 800 with spruced up interiors & upgrades that enable it to meet superior emission norms.
-MUL sets up second driving school at Kollam
-MUL to sell cars form JV with Suzuki
-Maruti Udyog launches Swift in Delhi on May 25, 2005.
-Maruti Udyog introduces new Alto
-Maruti tops in IQS 2005 awards
-Maruti unveils scheme for Kerala Govt employees
2006
-Indian car market leader Maruti Udyog on Feb 28, announced a price cut ranging between Rs 13,000-22,000 across five models, including M800 & Alto, following the cut in excise duty on small cars
-MUL unveils new WagonR in Punjab.
-Maruti Udyog Ltd has announced that the Comp. will unveil its stylish new Zen Estilo at a gala fashion show on New Delhi, tonight.
2007
-Maruti Udyog Limited has informed that Mr. Tsuneo Kobayashi, a non-executive director, has been appointed as Whole-time Director designated as Senior Joint Managing Director. The Board of Directors in their meeting held on 22nd January, 2007 has approved the above.
-UTI Bank & Maruti have joined hands for giving car finance.
-Maruti Udyog Ltd on May 07, 2007 the Comp. has launched SX4 sedan, a bold, muscular & feature-packed car, powered by global M-series engine & built on a brand new platform.
-Maruti Udyog Ltd has informed that Mr. Shinichi Takeuchi, Joint Managing Director was serving the Company Board in the capacity of nominee director of Suzuki Motor Corporation [SMCs], Japan.
- Comp. name has been changed from Maruti Udyog Ltd to Maruti Suzuki India Ltd.
2008
- Maruti Suzuki India Ltd has inducted Mr. Kenichi Ayukawa as Additional Director of Comp. with effect from July 21, 2008.
