The Maruti Story
16 Jan 2026
In 1986-87, Maruti sold more cars than all other passenger car makers in India combined.
And then… things went wrong. Sales slowed sharply because:
- Indian government’s 1986 budget increased component duties by 5%
- Yen strengthened by 22% (Maruti imported parts from Suzuki, Japan)
Most auto companies would have waited for the market to recover. Maruti didn’t.
They did something unexpected for an Indian carmaker at the time: they started exporting to Hungary, France, Netherlands…
By 1989, the Maruti 800 car was being sold across Asia, Europe, South America, Australia, and Africa.
This wasn’t just about profits. Exporting forced Maruti to:
- Improve quality standards
- Learn global operations
- Build long-term resilience
When the domestic market weakened, they didn’t defend. They expanded.
P.S. I read this anecdote in “The Maruti Story” by R.C. Bhargava (former CEO, current Chairman of Maruti Suzuki).