Mission Statement, Vision, & Core Values (2025) of Maruti Suzuki India Limited.

An Overview of Maruti Suzuki India Limited

General Summary of Maruti Suzuki India Limited

Maruti Suzuki India Limited, established in 1981, is a subsidiary of Suzuki Motor Corporation, Japan. It has emerged as a leading manufacturer in the automotive industry in India. The company offers a wide range of products, including compact cars, sedans, SUVs, and vans.

Some of its popular models include the Alto, Swift, Dzire, Vitara Brezza, and Baleno. As of 2024, Maruti Suzuki has reported total sales of 1.5 million units across various segments, maintaining a significant market share in the Indian automotive market.

Company's Financial Performance in the Latest Financial Reports

In the financial year 2023-2024, Maruti Suzuki recorded a record-breaking revenue of ₹1.25 lakh crores, with a net profit of ₹14,000 crores. The company's revenue growth was driven primarily by strong sales in the compact and SUV segments, which accounted for approximately 65% of total sales.

Market expansion efforts have also paid off, with the company increasing its footprint in various regions, leading to a year-on-year sales growth of 20%. The company's manufacturing capacity is now at 1.7 million vehicles per year, reflecting its commitment to meeting rising demand.

Introduction to Maruti Suzuki as a Leader in the Industry

Maruti Suzuki stands as a pillar in the Indian automotive industry, not only for its procurement of quality manufacturing processes but also for its robust supply chain and dealer network. The company has been at the forefront of innovation, frequently updating its models with the latest technology and safety features.

In 2024, the company continues to dominate the Indian market, leveraging its extensive portfolio and customer-centric approach. It is crucial for investors and industry analysts to examine Maruti Suzuki's strategies and market positioning to understand its ongoing success.

Mission Statement of Maruti Suzuki India Limited

Mission Statement of Maruti Suzuki India Limited

Maruti Suzuki India Limited's mission statement is foundational to its corporate ethos, guiding its strategic decisions and long-term objectives. The essence of the mission statement encapsulates the company’s commitment to delivering customer satisfaction through efficient products and services while also playing a significant role in the automotive industry. This mission is particularly relevant as the company operates in a dynamic market, characterized by rapid technological advancements and changing consumer preferences.

Core Components of the Mission Statement

1. Customer Satisfaction

At the heart of Maruti Suzuki's mission is the goal of achieving strong customer satisfaction. The company consistently strives to cater to customer needs through innovative solutions. For the fiscal year 2023, Maruti Suzuki reported a customer satisfaction rating of 87%, highlighting its commitment to understanding and fulfilling customer expectations. This metric is critical in a highly competitive market where consumer loyalty is paramount.

Financially, the customer-centric approach has paid off, with Maruti Suzuki selling over 1.5 million vehicles in FY 2023, marking a 12% increase compared to the previous year.

2. Quality Products

Maruti Suzuki emphasizes the significance of quality in its offerings. The company ensures that its products meet global standards, which is evidenced by its commitment to manufacturing excellence. For instance, in 2023, Maruti Suzuki received the Quality Management System certification under ISO 9001:2015, showcasing its adherence to high-quality benchmarks.

The company's investment in quality assurance measures is reflected in its 20.7% market share in the Indian passenger vehicle segment, a testament to consumer trust in its brand. This dedication to quality also led to an average vehicle rating of 4.5 out of 5 stars in safety assessments conducted by various automotive watchdogs in India.

3. Sustainable Development

Another core element of Maruti Suzuki's mission is its commitment to sustainable development. The company aims to minimize its environmental impact through innovative practices. For example, in 2022, Maruti Suzuki introduced a range of eco-friendly vehicles, contributing to a 25% reduction in overall carbon emissions from its production facilities compared to 2020 levels.

The company's sustainability initiatives include the use of solar energy, which powers 40% of its manufacturing units. Furthermore, Maruti Suzuki has pledged to transition to electric vehicles, targeting 50% of its sales to come from EVs by 2030.

Vision Statement of Maruti Suzuki India Limited

Vision Statement Overview

Maruti Suzuki India Limited's vision statement emphasizes innovation, sustainability, and customer-centricity. The company focuses on being the leader in the automotive industry through cutting-edge technology and environmentally friendly practices. The vision encapsulates a commitment to stakeholders and society.

Innovation as a Pillar

The company envisions itself as a front-runner in automotive technology advancements. Maruti Suzuki has invested over ₹4,500 crores in research and development over the last five years to enhance its product offerings and technology. This investment aims to develop hybrid and electric vehicles, aligning with global trends toward sustainable mobility.

Sustainability Goals

Maruti Suzuki's vision includes a strong emphasis on sustainability. The company aims to reduce its carbon footprint by 75% by 2030. As of 2024, Maruti Suzuki has reported that approximately 30% of its manufacturing plants utilize renewable energy sources. The organization is committed to producing vehicles with an average CO2 emission of less than 100g/km by 2030.

Customer-Centric Approach

Maruti Suzuki prioritizes customer satisfaction in its vision statement. The company has a customer retention rate of over 85%, which it seeks to maintain while aiming for 90% by 2025. The company conducts regular surveys where over 75% of customers reported satisfaction with the post-purchase service experience.

Global Expansion Strategy

Maruti Suzuki plans to expand its global footprint in the coming years. Presently, they export to over 100 countries, with aspirations to grow this number by 20% by 2025. The company has also projected revenue from international markets to grow by 15% CAGR over the next five years.

Innovative Mobility Solutions

Maruti Suzuki's vision includes offering innovative mobility solutions that cater to evolving customer needs. The company plans to introduce at least 10 new models in electric and hybrid segments by 2025. Their goal is also to ensure that 25% of total vehicle sales come from these segments in the next few years.

Employee Empowerment

Maruti Suzuki believes that employee motivation plays a significant role in its vision. Currently, employee engagement scores stand at 80%. The company aims to enhance this to 85% by 2025 through various programs and initiatives that focus on development and career growth.

Technological Leadership

Technological leadership is crucial to Maruti Suzuki’s vision. As of 2024, the company has integrated AI and machine learning in production processes, resulting in operational efficiencies of over 15%. Future investments are aimed at enhancing automation and digitalization in manufacturing.

Core Values of Maruti Suzuki India Limited

Integrity

The core value of integrity at Maruti Suzuki India Limited reflects its commitment to ethical practices and transparency in all business dealings. This value is crucial in maintaining trust with stakeholders, customers, and employees.

Maruti Suzuki has integrated integrity into its operational framework through various initiatives:

• Annual ethics training for employees, with a participation rate of over 95%.
• Establishment of a whistleblower policy, leading to a 30% increase in reported ethical concerns addressed in 2023.
• Adherence to stringent compliance measures with the Companies Act, ensuring transparency in financial reporting.

Customer Centricity

Customer centricity emphasizes the importance of understanding and meeting customer needs. Maruti Suzuki prioritizes customer satisfaction, which is reflected in its innovative products and services.

The company has launched several initiatives to enhance customer experience:

• Introduction of the “True Value” program for pre-owned cars, accounting for a 18% market share in the pre-owned car segment.
• Implementation of customer feedback systems, resulting in a 90% customer satisfaction score in 2023.
• Launch of a digital service booking platform, increasing service bookings by 40% year-over-year.

Innovation

Innovation is a core value that drives Maruti Suzuki to continuously improve its offerings and processes. The company aims to stay ahead of market trends through research and development.

Examples of commitment to innovation include:

• Investment of over ₹ 20 billion in R&D for electric vehicle technology by the end of 2024.
• Launch of the first electric SUV, the Maruti Suzuki eVX, projected to capture a 25% share in the electric vehicle market by 2025.
• Partnerships with technology firms for developing advanced driver-assistance systems (ADAS), enhancing vehicle safety features.

Social Responsibility

Social responsibility reflects Maruti Suzuki’s commitment to sustainable development and community welfare. This core value underscores the company’s efforts to contribute positively to society.

Maruti Suzuki engages in various social initiatives:

• Investment of over ₹ 1 billion in community development programs in 2023.
• Initiatives aimed at improving road safety, with over 200,000 individuals trained in safe driving practices annually.
• Environmental sustainability programs focusing on reducing carbon emissions, targeting a 30% reduction in emissions per vehicle by 2030.

Teamwork

Teamwork is fundamental to achieving collective goals and fostering a cooperative environment at Maruti Suzuki. The company values collaborative efforts among employees across all levels.

Demonstrated commitment to teamwork includes:

• Cross-functional project teams established for product development, resulting in a 15% reduction in time-to-market for new models.
• Regular team-building exercises, with participation from over 80% of employees in 2023.
• Recognition programs that reward team achievements, enhancing morale and productivity by 20%.