Toshihiro Suzuki, President of Suzuki Motor Corporation, today paid tribute to his father’s foresight in betting on India in the 1980s, pointing out that he was one of the few people to see the country’s growth potential early on.
“Forty years ago, no one could have visualised the true potential of the Indian market,” said Suzuki said at a media interaction in New Delhi today.
Toshihiro’s father, Osamu Suzuki, went against conventional wisdom in the 1980s to invest in a joint venture with the government of India, creating India’s largest carmaker, Maruti Udyog Ltd.
For Suzuki Motor Corporation, Maruti Suzuki is its biggest manufacturing hub, contributing to over 50-60% of the company’s volumes, revenues, and profitability. Even for Suzuki Motorcycle India, the local two-wheeler subsidiary – the country accounts for over half of its total sales globally.
“He had complete confidence in India and its future, and today, India has grown to become the world’s third-largest automobile market. I want to continue working hard so Indian customers will always love SMIPL,” he added.
Toshihiro Suzuki expressed his “heartfelt gratitude” for the wishes he received for his father, Osamu Suzuki, who passed away late in December.
Toshihiro Suzuki assured that he would pursue his father's passion, Osamu Suzuki, and put in his best efforts to further develop the Indian passenger four-wheeler and motorcycle markets.
“Our efforts will be to ensure that Market Suzuki, Suzuki, and Suzuki Motorcycle brands continue to be loved by Indian customers,” he added.
Suzuki Motor Corporation has committed an investment of over Rs 1 lakh crore until the end of the decade, which will double the production capacity for cars to 4 million and set up an all-new plant for Suzuki Motorcycles.
Suzuki said the company will continue to work towards building small cars, which will offer affordable transportation for millions of two-wheeler owners who want to upgrade to four-wheeled cars.