'Maruti to play imp role in SMC's global alliances'
Japanese small car major Suzuki Motors Co has said its Indian subsidiary Maruti Suzuki would play a significant role for the group in such activities.Updated: Jun 19, 2008 10:23 IST
With Indian companies led by the likes of Tata and Mahindra & Mahindra getting active in acquisitions and alliances in the global auto sector, Japanese small car major Suzuki Motors Co has said its Indian subsidiary Maruti Suzuki would play a significant role for the group in such activities.
"As a key member of global Suzuki group, Maruti Suzuki will take a significant role in the future," Suzuki Motor Co (SMC) Chairman Osamu Suzuki told PTI.
He was responding to a query if he was in favour of Maruti Suzuki India (MSI), considering it huge cash reserves to the tune of Rs 5,500 crore, getting into alliances, cross border or domestic, in the wake of Tatas buying Jaguar and Land Rover and M&M getting into alliance with Renault besides also buying component companies.
Maruti has already surpassed the parent in terms of domestic sales and recently it emerged as the fourth most reputed auto company in the "Global 200: The World's Best Corporate Reputations" list, compiled by US-based Reputation Institute ahead of SMC which came eighth.
Asked how confident he was about MSI maintaining more than 50 per cent market share in India, Suzuki said: "An entire generation of Indian people has grown up with Maruti Suzuki since we entered the Indian automobiles market in 1982.
"We are sure of continuing to offer attractive vehicles for everybody in India in the future, therefore we think it is not impossible for us to maintain 50 per cent passenger market share."