maruti suzuki, suzuki motor corporation
Osamu Suzuki (R), chairman of Japanese automaker Suzuki, poses with Indian ambassador to Japan Sujan R. Chinoy (C) and Suzuki company president Toshihiro Suzuki (L) during a press conference in Tokyo to introduce the company's new compact car Baleno, made in India, on March 9, 2016.Getty Images

Maruti Suzuki, the Indo-Japanese outfit currently has nearly 50 percent of the market share. The duo has been doing a highly successful business here and now added yet another feather to its cap by overtaking Japanese parent Suzuki Motor Corporation's (SMC) local business for the first time.

Maruti Suzuki with the help of fast-selling models such as the Baleno, Vitara Brezza and Ciaz netted a revenue of Rs 66,909 crore in the last financial year. Meanwhile, SMC's revenue in the home market (Japan) was at Rs 60,047 crore, reports MoneyControl.

Suzuki
A Suzuki Swift car is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland March 8, 2017Reuters

Maruti Suzuki has sold a whopping 15.65 lakh vehicles in 2016-17 as compared to 6.39 lakh units of Suzuki, Japan. In 2015-16, Maruti Suzuki sold 14.29 lakh units as compared to 6.3 lakh units sold by its parent in Japan.

"Our car sales have been higher than Suzuki Japan but their per unit price is higher than us. Their home market sales have not grown during the past 2-3 years," the publication quoted RC Bhargava, Chairman of Maruti Suzuki India as saying.

SMC's Japan revenue also includes returns from its two-wheeler business whereas for Maruti Suzuki revenues are based only on sales of passenger vehicles. The two-wheeler arm of Suzuki in India runs under Suzuki Motorcycle India but it has a minuscule market share.

The sales number of Maruti Suzuki in the current financial year is also in top gear. With the addition of the all-new Dzire in May, Maruti Suzuki posted a growth of 17 percent in volumes at 8.22 lakh during the April-September period.

Maruti Suzuki has set a target of selling two million units annually by 2020 with around 25 new models in the pipeline. The Delhi-based carmaker faced production constraints till last year as its plants in Haryana were running full capacity. With the start of production at its newest plant in Gujarat, Maruti Suzuki was able to ramp up production at a significant pace. These indicate Maruti Suzuki will maintain its lead over Suzuki Motor Corporation, Japan in the coming years as well.

Source: MoneyControl

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