$33,600,000,000
Suzuki Motors
Net Worth
Started in (City)
Hamamatsu
Started in (Country)
Japan
Incorporation Date
01st December, 1909
Bankruptcy Date
-
Founders
- Michio Suzuki
About
Suzuki Motor Corporation is a Japanese Automobile Company. It is one of the leading manufacturers of four-wheeler vehicles, two-wheeled vehicles, outboard marine engines, wheelchairs, and internal combustion engines. Indians are very fond of Maruti Suzuki because:
-It is cost-effective and affordable.
-Their luxury cars are also cheaper when compared with their competitors.
-Easy availability of spare parts.
-Cheaper maintenance costs.
-It has the best resale value.
Beginning
The founder Michio Suzuki was a carpenter, but the outbreak of war had a negative impact on the entire region he grew up. When his master started looming business Michio Suzuki also learned it and completed an apprenticeship at 21 years of age. He started Suzuki Loom Works in 1909. He gifted his first loom to his mother, which became the talk of the town, and very soon they were flooded with orders. This was the baby step in the birth of the global Automobile giant called Suzuki. In 1920 he listed his company and went public and renamed the company as Suzuki Loom Manufacturing Company. From then, for a decade Suzuki was manufacturing loom machines. Although his loom business was very successful, he was very much interested in diversifying his business. So he decided to manufacture cars because they had huge demands back then. Suzuki started making prototypes of compact cars in 1937 and within two years several prototypes were made. However, because of World War II, the production plans for Suzuki were stopped and the Japanese government declared passenger cars as nonessential commodities. Post-war, they were back into loom business. Domestic orders were in increasing trend and the company flourished. However, the cotton market collapsed in 1951. Despite many challenges, he went back to the automobile business. Post-war the demand for automobiles increased rapidly in Japan.
Road to Success
● 1952 - Suzuki launched their first two-wheeled vehicle called Power Free.
● 1953 - Introduced Diamond Free.
● 1954 - Changed Name as Suzuki Motor Corp. ltd.
● 1955 - Suzulight,front-wheel-drive car introduced.
● 1958 - S mark adopted as an emblem.
● 1960 - Suzuki’s new modern assembly line plant is finished. The old plant was
destroyed by a typhoon.
● 1961 - Started participating in motorcycle race under the brand name Suzuki
● 1963 - Mitsuo Itoh makes history as the first Japanese rider to win the Isle of
Man TT. Opened a subsidiary company in Los Angeles and entered
American Market.
● 1967 - Established Thai Suzuki Motor Co., Ltd in Thailand. It’s the first
assembly plant of Suzuki outside Japan.
● 1971 - Production plant for medium to large motorcycles is built-in Toyokawa,
Aichi, Japan.
● 1980 - Suzuki Australia Pty. Ltd. established in Sydney, Australia.
● 1981 - General Motors and Isuzu Motors announce cooperation with Suzuki in
the production and sales of new mini cars.
● 1982 - Maruti Udyog Ltd started in India to produce automobiles. It is a
collaboration between Suzuki and the government of India.
● 1983 - Started production of cars in Maruti Udyog Plant.
● 1984 - Suzuki New Zealand established.
● 1986 - American Suzuki Motor Corp. is established in California, to
consolidate US operations.
● 1987 - entered into an agreement with Mazda Motor Corp. to produce micro-mini vehicles.
● 1989 - Production of Suzuki cars begins at CAMI Automotive Inc. in Ontario,
Canada.
● 1990 - company name changed into Suzuki Motor Corporation.
● 1992 - Attained 50% partnership in Maruti Udyog Limited.
● 2000 - celebrated 80 years of inception.
● 2001 - achieved zero level target of landfill waste.
● 2009 - 100 years anniversary celebrated.
Challenges
As Suzuki is operational in various countries, the list varies accordingly. Some of its key competitors in its major markets are:
Japan - Nissan, Toyota, Honda, and Yamaha. (They produce impeccable craftsmanship for at equal prices and also some lesser as evident from their previously produced products)
India - TATA Motors, Honda, Hyundai, Chevrolet, Ford, and Volkswagen.
Failures
The Kizashi is a pure example of what Suzuki COULD have done if they were properly funded and allowed their prowess to come through. The car looked great, especially in person, had an incredibly well-built interior and a deft lightness to its entire chassis that made it a joy to drive! It even had a manual gearbox AND one of the first applications of the CVT that I can remember in a mass-market car. It felt special and even had a cool name to boot. The reality for the Kizashi was harsh and despite its accolades, the buying public really never got over the countless forgettable Suzuki models over the years. Their lineup lacked the diversity it needed to survive the Depression of 2009 and a few short years later - they were done in the states for good.
Subsidies
- Maruti Suzuki India Limited
- American Suzuki Motor Corp.
- Suzuki Canada Inc
- Suzuki GB PLC.
- Suzuki Indomobil Motor
- Suzuki Motorcycle India Pvt. ltd
CEOs
- Osamu Suzuki