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Acknowledgement
This project report has been prepared with the help of many peoplewithout whose support and co-operation this report could not have beenaccomplished fully.
I am deeply thankful to Mr. Ankit Desai the Branch manager of KiranMotors Ltd Rajpath for his guidance in preparing this project. I am alsothankful to Mr. Baiju Executive of Standard Chartered Bank who provideddetailed information about the financial facilities available to different types of customers.
Last but not the least I would like to thank all the sales executives,counter executives, receptionist, and insurance agents working at KiranMotors Ltd. Who helped me a lot by providing me minute details about theworking of KML.
Ajmeri Nilofer M.Roll No.: - 03002.
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Car finance
Ever since the Indian passenger car industry was de - licensed in 1993, the market has witnessed
a veritable explosion of innumerable car models vying for our attention in an attempt to woo the
customer.
Almost every car manufacturer till date is offering various permutations and combinations of
their model product portfolio, resulting in a plethora of variants, which at times can be pretty
bewildering for the average car buyer.
When a customer walks into any car showroom he will find various models. Any single model will
have at least 5 to 8 different variants distinguished by equally cryptic sounding trim level names
such as LX, VX, DX, PS, EL, FS, SP, Lxi, EX+, Di it makes the customer feel that there is
something different in each model and the customer can make comparison on the basis of it.
Manufacturers will tell that they are offering the customer choice. They will tell that they have a
model and a trim level for each and every customers tastes to suit every budget, to cater to any
level of customer taste.
But the main point here is, have the dealerships and most importantly - dealer sales staff kept
pace with the rapidly changing dynamics of the car market? Are they in a position to clearly make
the customer understand and to differentiate to them as to which model carries what attribute??
Apart from a handful of dealers in India, the bulk of them cannot differentiate between a steering
wheel and a spare wheel forget about convincing the customer enough to make him write out a
cheque to buy a higher priced model or a higher trim level variation of the same model on
product attributes alone.
The lack of incisive and in - depth sales knowledge on the part of dealer staff is worrying to say the
least. Apart from mouthing the usual banalities most of which you find on the product leaflet
anyway dealer sales personnel offer precious little addition to their sales blabber to invite the
customers attention enough.
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Thus what happens is that the customer decides on a model which probably has been drilled
into his mind because his friend or mechanic has suggested that model to him and he proceeds
to write out the cheque for that car only. The bargaining then boils down to the most competitive
financing package and the amount of upfront discount the dealer can give as well as any freebies
along with it.
Its about time car manufacturers in India understand that in a market already facing oversupply
and idle production capacity the last differentiator the last bastion of innovation - is in the area
of vehicle retailing.
Dealers are the first point of contact the customer has with a car company and no effort must be
spared to make sure that dealer personnel are some of the best human talent that the company
recruits. Merely planting pretty ladies in itsy bitsy skirts and flashing Toothpaste Ad smiles
are not going to win the sales sweepstakes.
What is needed is knowledgeable individuals possessing not merely selling skills but with the
capability to conceptualize, strategizes, implement and finally execute a well rounded sales plan.
Why the bulk of car dealer sales personnel lack these qualities are quite easy to explain.
Most car dealership selling activity in India suffers from a perceptual problem. It is still viewed as
infra dig by people especially by fresher and B- school grads as having not enough glamour
appeal to work there. Hence there is a lack of proper personnel even wanting to work at these
places.
Secondly almost all car dealerships in India are closely held family owned businesses and the
promoters of these businesses lacks the professional vision which they ideally should posses.
Thus they offer pathetic pay packets to sales personnel translating to inadequate incentives
whom are not enough to retain and or recruit new knowledgeable people.
And lastly one has to realize that selling cars is a very, very specialized task. Its not similar to
selling fast moving consumer goods such as soaps and toothpastes!!
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Car retailing requires a deep understanding of the industry, the technicalities involved in the
product as well as a certain degree of affection for the automobile to make a convincing sales
pitch. Product knowledge - of the car salesperson - is perhaps the most indispensable tool which
he / she can possess at all times and should utilize it to its fullest potential.
The car industry in India today is at a crossroad. With a market size which has still a fair way to go
before hitting the million units mark, and with quality and reliability levels of cars rapidly converging
the only area left in which to innovate is in the sphere of effective retailing and the sooner the
manufacturers do something about this the better.
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Precautions before taking finance
Before the customer start shopping for a finance scheme the customer need to do two things:-
Check his bank balance and decide on how much down payment he.
Remember that it's always better to pay a higher down payment if the customer can afford it since
it turns out to be cheaper in the long run.
Look at the income stream and get a fix on the instalment that he will be able
to pay (monthly or quarterly) without disturbing his current lifestyle and for how long.
Armed with these figures the customer can start looking for a financier, either by responding to
their ads, or by signing up on some of the websites that offer match making services between
financiers and potential clients.
Have enough time on the customers hands whilst searching for the customer finance scheme.
Rushing into finalizing a scheme is a cardinal sin and the customers are likely to end up paying
more. Call from quotes for as many financiers as possible. Shortlist a set of at least 3 financiers
based on the initial quote and then negotiate with them on each component of the scheme. Armed
with the rudimentary knowledge about car financing the customer will be able to ask the right
questions and get the best deal.
Remember not to fall for longer tenure lower installment schemes, because eventually the
customer pay a higher interest amount and more often than not, the market value of the
customers car depreciates much faster, than the rate at which the customer have been retiring the
principal. Also, do not fall for the 0% interest schemes, since if the customers are not paying the
interest, then someone else is and it is usually the manufacturer in the form of a discount to thefinancier. Once the customers are able to get a handle on the discount amount, the customer can
work out a scheme better suited to the customers requirements.
In today's world, the consumer is King. Two individuals availing a finance scheme from the same
source can get different deals. So negotiations can go a long way to get the customer better deals.
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Kiran motors limited
Kiran motors limited is one of the biggest Maruti dealers in India. The first branch of Kiran Motors
Limited was started by Mr. Kiran. It has 9 branches in Gujarat. Kiran Motors Limited deals with the
product of MARUTI SUZUKI. Different cars of Maruti are sold at km. In Ahmedabad it has got six
branches, one warehouse and two service stations. The details about Kiran Motors Limited are as
follows.
Branches:
Ahmedabad:- Kiran Motors Limited has got six branches with one head office in ahmedabad. Its
branches are :
Mithakhali Branch
Bapunagar Branch
Nehrunagar Branch
Rajpath BranchManinagar Branch
Navrangpura Branch
Baroda:- Kiran Motors Limited has got one branch at Baroda.
Surat:- Kiran Motors Limited has got two branches at Surat.
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0rganisation chart
Managing director
General manager
Branch manager
Sales Counter Inquiry Receptionist
executive executive manager
Objectives and operating principles.
A company has to know what it wants to accomplish. What are managements real goals? A first
step, therefore, is to develop and set forth clearly the companys management philosophy and
objectives.
Objectives: - Objectives of Kiran Motors Limited are
To provide customer with better services.
To build and maintain long term customer relationship.
To sale the product at most competitive prices.
To increase co-operation between different departments.
To build and maintain good relationship with the financers.
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Operations at Kiran Motors Limited
Lines of authority and responsibility
1. There are to be definite, non-overlapping lines of authorit. There must be no crossing of
the lines of authority. At Kiran Motors Limited the line of authority is very clear. The branch
manager, the sales executives, the insurance people, supervisor at service station, the counter
executives, etc. knows the area in which they can take some decisions related to their work.
2. one and only one person is to be responsible for the implementation of every individual
decision. At Kiran Motors Limited the branch manager is responsible for the implementing the
decisions at his or her branch.
Cooperative management
1. A number of properly organized, actively functioning, permanent committees must meet
promptly at regular, specified intervals, with additional meetings whenever required. At Kiran
Motors Limited managing director, branch manager, insurance departments head, inventory
controller, supervisor of service station and executives of maruti udhyog limited meet regularly to
discuss the present working of their respective departments.
2. Each division head shall hold staff meetings. At Kiran Motors Limited whatever is
decided in the meeting is discussed with other executives of Kiran Motors Limited after the
meeting gets over.
3. Decisions by individuals and by groups are to be made promptly. At Kiran Motors
Limited the executives at junior level discuss about the decisions taken in the meeting and if they
agree with the decision then prompt implementation is made. And if they dont agree, then the
decisions are discussed again and changes are made, if necessary.
Development Of Leadership
1. Every executive must have, at all times, a clear understanding and a complete listing of
the companys general and specific objectives and policies, as well as the objectives and policies
which apply to his own division or department. At Kiran Motors Limited the sales executives knows
about the goal of Kiran Motors Limited and their individual goals. They knows very well about their
target to be archived. On an average a sales executive is given target of eight to ten cars per
month depending on their capacity and the market condition.
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2. Every executive must consciously avoid waste of time. Meetings, interviews, telephone
calls, appointments, visits, and trips must be kept as short as possible consistent with adequate
results. Sales executives at Kiran Motors Limited are given the job to complete an inquiry which is
waiting to be completed. A record of customers is maintained and daily work to sales and
marketing people are given.
3. Executives should maintain a cooperative spirit and avoid jealously guarding the
prerogatives of their offices to satisfy personal pride. At Kiran Motors Limited the marketing people
and other executives helps new employee to achieve his target. Sometimes the out side work like
passing of vehicles are also done for new executive by the experienced executive. Even the
absenteeism of one employee is taken care by other employees.
4. Every executive should establish and maintain a dignified friendliness with each
member of his division or department. At Kiran Motors Limited the work environment is informal,
the employees at Kiran Motors Limited calls their peers and superiors by their first name. Even
people from two different departments behave like friends.
5. Every executive is to enforce strict discipline throughout his organization. Although the
executives behave in an informal way they enforce strict discipline in their work. The executive
comes on time, he starts his work immediately, he avoids absents, and also does not leave before
time.
6. Every executive is to train and encourage his subordinates to develop initiative. At Kiran
Motors Limited the subordinates are trained by their superiors. Sometimes even branch manager
gives the training to his executives. New executives who has to do field work are guided by
experienced executives, they takes the new executive with them in field before they start working
alone.
7. Praise is to be given wherever justified. At Kiran Motors Limited the executive who
performs outstandingly are given some monetary reward for their extra efforts. Even they are
given high position in the company.
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Kiran Motors Limited achievement
Kiran Motors is one of the largest dealers of Maruti Suzuki. All the products of Maruti are available
at Kiran Motors. The following result shows Kiran Motors performance during the last year.
Kiran Motors Limiteds performance from April 2003-March 2004
All India domestic sales
Maruti Zen
Rank Dealer name No.of vehicles sold
1 Popular-cochin 127252 Competent-Delhi 123493 Indus-cochin 105204 Sai-bombay 103985 Kiran-ahmedabad 9396
Rank Dealer name No.of vehicles sold
1 Swami-amritsar 21812 Competent-delhi 21523 Popular-cochine 19454 Sai-bombay 17895 Kiran-ahmedabad 1695
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Maruti 800
Rank Dealer name No.of vehicles sold1 Popular-cochin 58052 Indus-cochin 49723 Vehcl-pathancot 45024 Kiran-ahmedabad 39595 Rohan-gaziabad 3858
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Insurance
The insurance of maruti vehicles is provided by national insurance all over India for both domestic
sales as well as export of cars.
Warrantee
It is a feature that makes the custpmer more satisfied about the expenses related to meet the
unexpected breakdowns.
Now the dealership will be the contact point for insurance of new policies, making endorsements
and renewal of old policy. Additionally, in case of an accident, the customer doesnt need to payupfront for any repairs (except towards depreciation and compulsory excess). Hence it will be near
cashless settlements for the customers. Moreover, the dealer will be responsible for initialing of
carrying out all the accident related activities including arranging of the survey and repair of the
vehicle. The repairs are done using Maruti Genuine Parts, adhering to strict quality standards
(conditions apply). In case the vehicle is rendered immobile, the dealer will provide towing free of
cost cup to Rs. 1500/-). All these services are available to the customer seamlessly across the
entire MARUTI SUZUKI Dealership network.
Price
Price of Maruti are very competitive on the road cost in A bad is shown in the given price list. Also
the Ex. Stockyard price, RTO Tax, Insurance, Octroi, Registration fees, Municipal Tax, etc. are
also given in the price list.
Payment
The payment of nice of cars is very easy in the Maruti. It can be done in the following ways.
1. Cash Payment
2. Payment by loan. The loan facility is provided to customers of Maruti by several banks,
these banks also grants the customer discounts on loan. Loan can be available from 60 to 95% if
the customer makes payment through loan than he will have to pay the amount of down payment,
which includes RTO Tax, Octroi, Registration Fees, Insurance, Margin Money, & municipal Taxetc.
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FINANCING OPTIONS:
Maruti has partnered with the top Finance companies in India, so that its customers get the best
possible service and rates. The alliance partner Finance companies for Maruti Finance are
Citicorp Maruti Finance Ltd. , Maruti Countrywide, ICICI bank, HDFC bank, Kotak Mahindra, ABN
Amro bank, Standard Chartered bank and Sundaram Finance
There are essentially three basic financing options available to the customer. Loan, Hire
purchase and Lease. Each of these options has individual merits to suit a particular kind of
borrower.
LOAN :
When the customer take a loan to buy a car, the customer is the registered owner of the car and
the financier creates a lien on the same as a security. The customer repays the loan (principal)
along with interest over a pre-agreed period (tenure) in the form of periodic instalments. In case of
a default in payments the financier has the option of invoking the lien clause. Businessmen/self-
employed persons and companies that use such a car for business purposes can treat the interest
paid on the loan as a business expense and also avail of tax deductions against depreciation, in
any accounting year. Loan agreements attract stamp duty depending on the state in which they
are executed.
HIRE PURCHASE :
In this method of financing, the financier purchases the vehicle on the customerr behalf. The
customer hire it out from the financier with the intention of buying it from him at the end of a pre-
determined period. In hire purchase, although the customer are the registered owner, the car is
hypothecated to the financier (an endorsement is made in the R/C Book) thereby giving the
financier the legal ownership of the car. The hypothecation is removed by a special procedure(mentioned under documentation later in this article) after the instalments are fully paid off.
For businesses/self-employed persons/companies, a car taken on hire purchase appears on their
Balance Sheet as an asset and they can get tax deductions against the interest paid, along with
the depreciation, in any accounting year. Please be aware that a hire purchase transaction attracts
additional sales tax, turnover tax, value-added tax, stamp duty, etc. depending on the state in
which the agreement is being signed.
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LEASE :
In a lease, the financier leases out a car to the customer for a certain time-period, after which the
financier can either take back the car or sell the car to a third party. In effect, the customer will not
be the owner of the car either during the tenure of the lease or even after the lease has been
terminated. This is the technical definition of a lease and the customer may come across several
variants depending on the financier the customer are dealing with.
Lease is an attractive option for companies who are acquiring cars in the name of the company to
be given out to their employees, with the employees having an option of buying the car on a later
date at a nominal value. This helps the company is two ways. One the cars do not appear as
assets on the Balance Sheet of the company (cars are usually treated as unproductive assets and
best kept off the Balance Sheet), and two, the company can treat the entire lease rentals paid
(principal + interest) as a business expense and avail of substantial tax deductions. However,
under a lease, the financier, not the customer, claims MARUTI SUZUKI the depreciation on the
car.
Like hire purchase, a lease transaction attracts additional sales tax, turnover tax, value-added tax,
stamp duty, etc. depending on the state in which the agreement is being signed.
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Documents required for the loan funding are as follows: -
Different documents are required for different type of customers. Ther customer can be of the
following type.
For salaried: -
A. Vanilla Scheme.
- General Documents- IT returns of last 2 years or Form 16 of last 2 years- Bank statement of savings of last 6 months.
- Maximum Loan: -
For 1,2 & 3 yrs = Gross Salary x 1.5
4 yrs. = Gross Salary x 2
5 yrs. = Gross Salary x 2.5
B. High Equity
- General Documents- IT returns if < 60,000 or proof of job which should show that the person is
employed from more than last 2 years i.e. appointment letter, or Electricity bill, or Form 16 of
last 2 years Bank statement- Maximum Loan: -
Loan is available for maximum 4 years and maximum of 70% of the amount can be given tocandidate.
C. Privilege.- General Documents- Credit card of Standard Chartered Bank or track record of another
bank which shows the transaction with bank with respect to previous loan.- Maximum loan :-
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upto 90 % for 5 years.
For a Proprietor or Proprietory firm
A. Vanilla Scheme.
- General Documents- IT returns of > 60, 000 last 2 yrs.- Bank st. of current account of last 6 months.- Loan available
Maximum Loan = gross Income x 5
B. High Equity
- General Documents
- IT returns if < 60,000 of 2 yrs. Or continuity proof which shows the business is running from
last 2 years i.e. Electricity bill, or telephone bill
- Registration certificate if Income Tax certificate is not available
- Bank statement of current account of last 6 months.
- Loan amount
Maxi. 70 % of total amount for maximum of 3 years.
B. Previledge
- General Documents- Credit card of Standard Chartered Bank or track record of another bank
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Partnership: - If partner purchases with his own checks
A.Vanilla Scheme.
General Documents
IT returns of > 60, 000 last 2 yrs.
Bank statement of the firm of last 6 months.
Partnership deed.
B.High Equity
General Documents
IT returns or continuity proof showing 2 years continuity of partner.
Bank statement of the firm of last 6 months.
Partnership deed.
C.Previledge
General DocumentsCredit card of Standard Chartered Bank or track record of another bank
Partnership deed
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If Partner purchases with firms checks.
A. Vanilla
- General Documents
- IT returns of partner of last 2 years. > 60,000.- Bank Statement of savings A/c- Partner ship deed- Authority Letter - IT returns of firm & parters capital A/c & Trading A/c, & P&L A/c, & B/S or
Audited Balance Sheet- J & S Paper
B. High Equity
- General Documents- Income Tax Returns of last 2 yrs. (proving continuity)- Partnership Deed- Authority Letter - IT return of the firm, Partners capital A/c, Trading A/c P&L A/c, Balance
Sheet, or Audited Balance sheet- Joint & several paper
C. Previledge
- General Documents- Credit card of SCB or track record of old (purchase of vehicle, home etc.
on loan)- Partnership deed
Partner ship firm
A. VScheme
- General Documents- IT returns of firm of last 2 yrs.- Bank st. of current A/c of firm of last 6 months- Partnership deed- Authority Letter - Financial documents (Here, J & S Paper will not come)
B. High Equity
- General documents- IT returns of firm of last 2 years or CP proof - Bank st. of last 6 months of firm- Continuity proof (i.e. firm should prove that it is in existence since last 2
yrs. If it doesnt have IT returns)- Partnership deed
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- Financial documents of firm (such as P&L A/c, Partners capital a/c, B/s, or Audited B/s with 3cb-3cd form if to 40 lacs.
- Authority Letter
C.Previledge
- General Documents (with documents of signing partner)- Credit card of SCB or Track record if any
Directors: - with individual checks
A. Vanilla Scheme
- General Documents- IT returns > 60,000 or F-16 form-
Bank statement of last 6 moths of directors account- Memorandum of Association
B. High- Equity
- General Documents- IT returns if not then continuity proof, which can be MOA; Form 16, or
salary sleep of last 2 years i.e. which shows that the person is employed since last 2 years)- Bank statement of last 6 months- MOA
C. Previledge- General Documents- Credit card of SCB or old Track record- MOA
With companys checks
A. Vanilla
- General Documents- IT returns or F-16 > 60,000- Bank statement of last 6 months- Directors report- Joint & Several papers
B. High Equity- General Documents- IT returns or F- 16 form < 60,000- Bank statement of savings a/c of last 6 months- MOA-
Board resolution- Audited B/s of last 2 year (with 3CB-3CD form if turn over > 40 lacs)
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- Directors report- Joint & Several Paper
C. Previledge
- General Documents- Credit card of SCB or Track record if any- MOA- Boards resolution- J&S paper - Directors report
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Pvt. Ltd. Or Ltd.: - With its name (only one possibility)
A. Vanilla Scheme- General Documents [ documents of one Director sign]- Financial documents of the company- Board resolution- Director must take responsibility [ J&S paper will come here]
B. High Equity
- General Document [documents of one Director sign]- IT returns
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CUSTOMERS ARE FOUND OUT IN THE FOLLOWING 5 WAYS: -
1. Cool Hunt
2. Walk-in-Inquiries
3. Telephone- Inquiries
4. Field- Inquiries
5. Inquires though reference ( i.e. becoz of word of month )
Cool Hunt:-
In this program a marketing executive of kml visits the offices and residents of prospective
customers. The customer may or may not intended to buy the car but a simple approach my result
in sales. Cool hunt sometimes affects the brand image of the company. If not handeled properly
this program may build negative impact on prospective customers. Kml avoids the cool hunt
program. It concentrates on the other four ways to find its customers.
References: -
This way of marketing the product really good, especially in case when the existing customers are
satisfied the marketing becomes easy. Word- of- mouth plays a major role in this case. The sales
executive has to convince the prospects in only a few areas. Most of convinced before they enter
in the show room. Good customer relation plays major role in this Advertising.
Walk-in inquiries:-
Many of the customers come directly to the showroom to purchase the car. The customer may be
attracted by the newspaper advertisement, or he may have decided earlier to purchase the maruti
car from a particular showroom. Walk-in inquiries are generally handled by counter executives.
Some times sales executives also addreses to these inquiries. To deal with these customers the
executive should possess substantial knowledge of the product, its competitors, discounts
associated with a particular product etc.
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Telephone inquiries:-
Generally handled by the receptionist, telephone inquiries do not have a good success rate.
Although the customer makes a telephone inquiry he has to come to dealer if he wants
demonstration of a particular car.
Field- Inquiries:-
The field inquiries are generally made for those customers who show their interest in buying the
product in nearer future. Field inquiry facilitates the customer in the sense that the executive
meets the customer at his home or in his office, this saves the customers time and energy.
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MARUTI SUZUKI Count On us.
History
Maruti Udyog Limited (MARUTI UDHYOG LIMITED) was established in Feb 1981 through an Act
of Parliament, to meet the growing demand of a personal mode of transport caused by the lack of
an efficient public transport system.Suzuki Motor Company was chosen from seven prospective
partners worldwide. This was due not only to their undisputed leadership in small cars but also to
their commitment to actively bring to MARUTI UDHYOG LIMITED contemporary technology and
Japanese management practices (which had catapulted Japan over USA to the status of the top
auto manufacturing country in the world).A licence and a Joint Venture agreement was signed
between Govt of India and Suzuki Motor Company (now Suzuki Motor Corporation of Japan) in
Oct 1982.
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COMPANY PROFILE
Vision
The Leader in
The Indian Automobile Industry,
Creating Customer Delight and Shareholder's Wealth;
MARUTI SUZUKI is the number-1 car company in India. MARUTI SUZUKI is a name India has
loved and trusted for 20 years. There are around 40 lacs satisfied MARUTI SUZUKI owners on the
road today. MARUTI SUZUKI sells more cars than all the other put together. New MARUTI
SUZUKI cars are built with technology other cars just cant match. MARUTI SUZUKI customersenjoy benefits few other cars companies can offer. MARUTI SUZUKI owners are more satisfied
with their cars than anyone else.
16 x 4 Hypertech is installed in Marutis vehicles. MARUTI SUZUKI vehicles have advanced new
MPFI technology that works with the unique 16x4 hypertech engine to give the customer
unmatched performance. Most MARUTI SUZUKI vehicles have a powerful 16 bit computer and
4 valves per cylinder. 16 x 4 hypertech gives the customer much more power & performance.
Almost no other car in India has this technology. They mostly have 8 bit computers and 2 3
valves per cylinder. Better fuel economy. Lower emission levels easily meet Euro II nor MARUTI
SUZUKI. It also makes the engine run very smoothly. It makes the car more enjoyable to drive.
objectives
The objectives of MARUTI UDHYOG LIMITED then are:
- Modernization of the Indian Automobile Industry.- Production of fuel-efficient vehicles to conserve scarce resources.- Production of large number of motor vehicles which was necessary for
economic growth.
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The Core values at Maruti Suzuki
Customer Obsession
Fast, Flexible and First Mover
Innovation and Creativity
Networking and Partnership
Openness and Learning
Addresses
Registered and Corporate office
11th Floor, Jeevan Prakash, 25, Kasturba Gandhi Marg,
New Delhi - 110001, India
MARUTI UDHYOG LIMITED FACTORY
Palam Gurgaon Road,
Gurgaon -122015, Haryana, India
Regional offices
East For the States: Eastern Madhya Pradesh, Orissa, West Bengal, Bihar, Andaman & Nicobar
L & T chambers 4th floor,
16,camac street
Kolkata-700 016
North East For the States: All North East States
403, Orian Towers,
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Christian Basti,
G.S. Road,
Guwahati (Assam)
North 1 For the States: Delhi, Rajasthan, Uttar Pradesh (NCR) and parts of Western UP, parts of Haryana
6th Floor, Hansalaya Building,
15 Barakhamba Road,
New Delhi - 110001
North 2 For the States: Haryana, Chandigarh, H.P., J&K, Punjab, Chandigarh
Sector 8-C, SCO 39-40 Madhya Marg
Chandigarh - 160018
Central For the States: Central and Eastern Uttar Pradesh, North and West Madhya Pradesh
Ground Floor, Block B-1,
Pickup Building, Vibhuti Khand,
Gomtinagar Lucknow - 226 010.
South 1 For the States: Tamil Nadu, Kerala and Pondicherry
7th Floor, Capital Towers,
180, Kodambakkam High Road,
Nungambakam,Chennai - 600034
South 2 For the States: Andhra Pradesh, Karnataka
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204, 2nd Floor,
"Embassy Classic"
Vittal Mallya Road
Bangalore - 560 001
Area Office: Andhra Pradesh
603/2 , 6th Floor White House (Block -1)
6-3-1192/1/1, Kundan Bagh
Begumpet, Hyderabad - 500 016
West-1 For the States: Maharashtra, Goa, Daman & Diu
602, Madhava Building,
Bandra-Kurla Complex,
Bandra(E), Mumbai - 400051
West 2 For the State: Gujarat
505, Satkar Complex,
Behind Swagat Building, Off C G Road,
Navrangpura, Ahmedabad - 380 009.
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Product profile: -
As we know KIRAN MOTORS LIMITED deals with cars of Maruti Suzuki, most of the models of
Maruti cars are available for sale at KIRAN MOTORS LIMITED. Also accessories and insurancefor Maruti cars are sold at KIRAN MOTORS LIMITED. The following are main car models available
with KIRAN MOTORS LIMITED.
Maruti-800
Omni
Versa
BalenoEsteem
Alto
Zypsy
Zen
Wagon-r
Baleno-altura
The following are main dates when Maruti launched its new models and also
launch of various variants of Maruti Suzuki are shown below.
2004 Apr: New (non A/C) variant of Alto
2004 Mar: LPG variant of 'Omni Cargo'
2004 Mar: Versa 5-seater, a new variant
2004 Jan: Baleno LXi, a new variant
2003 Dec: New Suzuki Grand Vitara XL-7
2003 Nov: Redesigned and all-new Zen
2003 Oct: New upgraded WagonR
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2002 July: WagonR Pride
2002 July: Esteem Diesel. All other variants upgraded
2002 May: Maruti Insurance. Two new subsidiaries started: Maruti Insurance Distributor Services and Maruti Insurance Brokers Limited
2002 May: Alto Spin LXi, with electronic power steering
2002 Mar: Special edition of Maruti 800, Indias first colour-coordinated car
2002 Jan: Maruti True value in Mumbai
2002 Jan: Maruti Finance in Mumbai with 10 finance companies
2001 Dec: Zen LXi
2001 Oct: Maruti True Value launched in Bangalore and Delhi
2001 Oct: Maruti Versa, Indias first luxury MPV
2001 Aug: Alto Vxi
2001 Aug: Zen Easy Drive
2001 Aug: Customer information centers launched in Hyderabad, Bangalore and Chennai
2000 Oct: First cars company in India to launch a Call Center
2000 Sept: New Alto
2000 Aug: Altura, a luxury estate car
2000 Mar: IDTR (Institute of Driving Training and Research) launched jointly with the Delhi
government to promote safe driving habits
1999 Jan: Maruti 800 EX (796cc, hatchback car)
1999 Jan: Zen LX (993cc, hatchback car)
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1999 Oct: Zen VXi (993cc, hatchback car with power steering)
1999 Oct: Omni XL (796cc, MUV, high roof)
1999 Nov: Baleno (1600cc, 3 Box Car)
1999 Dec: Wagon R
1998 Dec: Maruti launches website as part of CRM initiatives
1998 Aug: Zen D (1527 cc diesel, hatchback car)
1998 July: Zen VX & Zen VX Automatic
1998 Feb: New (Omni & Omni E) (796cc, MUV)
1997 Oct: 1998 Esteem (1299cc, 3 box car) LX, VX and AX
1997 Sept: New Maruti 800 (796cc, hatchback Car) Standard and Deluxe
1996 Dec: Gypsy (E) (970cc, 4WD 8 seater)
1996 Dec: Omni (E) (796cc, MUV, 8 seater)
1996 Nov: Gypsy King (1298cc, 4WD, off road vehicle)
1996 Oct: Zen Automatic (993cc, hatchback car)
1996 June: Esteem 1.3L (1298 cc, 3 box Car) AX
1995 Nov: Esteem 1.3L (1298 cc, 3 box car) VX
1994 Nov: Esteem1.3L (1298cc, 3 box car) LX
1993 Oct: Zen (993cc, hatchback Car), which was later exported in Europe and elsewhere as
the Alto
1990 Oct: Maruti 1000(970cc, 3 box), Indias first contemporary sedan
1986 June: Maruti 800 (New Model-796cc, hatchback Car)
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1985 Dec: Gypsy (970cc, 4WD off-road vehicle)
1984 Nov: Omni, a 796cc MUV
1983 Dec: Maruti 800, a 796 cc hatchback, Indias first affordable car.
Chronology of events as on 2004
2004: Launch of LPG variant of its commercial vehicle 'Omni Cargo'
Launch of Versa 5-seater, a new variant of its Maruti Udhyog Limited multi purpose vehicle
Launch of Baleno LXi, a new variant of its premium mid-size sedan
Launch of new (non A/C) variant of Alto
Maruti closed the financial year 2003-04 with an annual sale of 472122 units, the
highest ever since the company began operations 20 years ago
2003: Enters into partnership with State Bank of India
Launch of Grand Vitara XL-7 (produced by Suzuki)
Production of 4 millionth vehicle. Listed on BSE and NSE after a public issue oversubscribed 10
times
2002: Suzuki Motor Corporation (SMC) increases its stake in Maruti to 54.2 percent
Launch of Maruti Insurance
2001-02: Launch of new businesses: Maruti True Value (buying, selling or exchange of pre-
owned cars), Maruti Finance (car financing) and N2N (Corporate Lease & Fleet Management)
2001: Launch of versa
2000: Launch of Alto and Altura
1999: Launch of Maruti - Suzuki innovative traffic beat in Delhi and Chennai as social initiatives
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Launch of Maruti Baleno and Wagonr
Plant 3 inaugurated; installed capacity increased to 350,000 units
1998: Launch of website as part of CRM initiatives
1997: Produced the 2 millionth vehicle since the commencement of production
1996: Launch of 24-hour emergency on-road vehicle service
1995: With the launch of second plant, installed capacity reached 200,000 units
1994: Produced the 1 millionth vehicle since the commencement of production
1993: Launch of Maruti Zen
1992: SMC increases its stake in Maruti to 50 percent
1991: Reaches cuMaruti Udhyog Limitedative indigenisation of 65 percent for all vehicles
produced
1990: Launch of three-box car, the Maruti 1000
1988: Installed capacity increased to 100,000 units
1987: Exported first lot of 500 cars to Hungary
1986: Produced 100,000 vehicles (cuMaruti Udhyog Limitedative production)
1985: Launch of Maruti Gypsy
1984: Installed capacity reached 40,000 units
Launch of Maruti Omni
1983: Production was started under JVA
Launch of 796 cc hatchback Maruti 800
1982: License and JV agreement signed between Maruti Udyog Ltd. and SMC of Japan
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1981: Maruti Udyog Ltd was incorporated under the provisions of the Indian Companies Act, 1956
BENEFITS:
Maruti always offers its customer the quality product. Starting form greeting the customer tomaking presentation, demonstration, making actual sales, receipt of payment and providing loan
facility are done very well by the sales executives of Maruti dealers.
Unbeatable service advantage.
Only MARUTI SUZUKI has a nation wide network of over 1900 service station in more than 900
towns. From Kashmir to Kanyakumari!
Army of 30,000 professionally trained service personnel.
Modern, advanced repairing equipment and tools.
Express Highway Services
Express Highway Services introduced with services stations at convenient points on important
national Highways.
Maruti On Road Service
Maruti on road service. Just dial 9622962200 for a 24 hour on road breakdown service in many
cities. No other car company can match this. Maruti is giving the service in such a way so that the
customer can avail it anywhere in India.
Genuine Parts
MARUTI SUZUKI spares are easily available across the length and breath of the country. Also the
spare parts are available at cheaper rate compared to its competitors.
Maruti Suzuki Extended Warranty
MARUTI SUZUKI now offers optical extended warranty up to the 3 rd year of 60,000 kMARUTI
SUZUKI, which ever is earlier, with effect from April, 2002.
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All new vehicles sold on or after 14 th may 2001 and covered under the primary warranty of 2 years
or 40,000 kms (which ever is earlier) are eligible of this. It gives total peace of mind for 4 years,
flexibility to approach any MARUTI SUZUKI dealers across the country for availing this warranty
and of course, the MARUTI SUZUKI assurance. All this is available at an extremely customer
friendly price.
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Maruti finance: - A better way to buy a car.
Thanks to Maruti Finance, customers can now get the best interest rates for car loans at
their MARUTI SUZUKI Dealership itself. In fact, the dealer will compare all the necessary paper
work and other formalities. More importantly, the percentage of ex showroom price that the
customer can get as loan (LTV) is higher than what is others. Besides this, the customer is also
offered value Added Services (VAS) like Extended Warranty for 3 rd and 4 th year at a discounted
price. And thats not all. Under certain conditions, the customer can also get loans for car
insurance and Maruti Genuine Accessories.
The Maruti Finance offer to its customers is different from other offerings in the market in 4 key
ways:
Best Interest Rates: The Maruti Finance program offers most competitive interest
rates to its customers, which are lower by 0.25% to 0.5% from the market rates.
Value Added Services: Extended warranty for the 3rd & 4th years can be bundled
along with the Maruti Finance loan.
Higher Loan Amounts : Under Maruti Finance, the customer could get higher Loan
To Value (LTVs), loan top ups for Insurance & Maruti Genuine Accessories.
Convenience & Transparent Deals: Maruti Finance has defined high service
standards for its customers, and hence promises to offer the best in the market service. The
customer gets the convenience of getting all his / her car needs Car, Finance, Accessories, all
under the same roof. Also, Maruti Finance ensures transparent & genuine deals to its customers
through its wide dealership network.
The interest rate offered for car financing depends on the credit evaluation of the customer by the
Finance company. However, the rates offered by Maruti Finance are 0.25% to 0.5% lower than
those available in the market across all credit profiles.
The rates being offered by the Finance company under Maruti Finance are special rates that have
been negotiated by Maruti with the Finance companies for its customers. Hence, these rates are
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lower than those being offered in the market. The customer does not have to bear any indirect
costs to reconcile for these lower rates.
The amount of loan available depends on the car that is being purchased, as the Finance
companies define a maximum Loan-to-Value ratio for the customers. The value here is the price of
the car that the customer proposes to purchase. The Loan-to-Value ratio offered to the customer
depends on the credit evaluation of the customer by the Finance company. The LTV to a customer
can go upto 100%.
Loans for Insurance and Accessories.
Loans for insurance and accessories are built into the EMI's, keeping the whole deal simple and
hassle free.So if the customer haven't already made up the customerr mind, just walk into an
authorised Maruti dealership for the best cars and best finance options.
The Maruti Finance program aims to offer the best in class service to its customers. With this
objective, the following service standards have been set for the performance of the business:
* Incomplete Application Turn Around Time (TAT) In case there is further documentation
required for the application to be processed, the Finance company will inform the dealer within 2working hours of receipt of application file, and the customer can subsequently be informed of the
same by the dealer
* Approval TAT after receipt of satisfactory documentation On receipt of the completed
application with satisfactory documentation, the Finance company will take a decision on
approving the loan within a duration of 4 hours & not exceeding 24 hours from receipt of
application
* Complaint addressal The Finance Company will address any customer complaint received
within 24 hours from receipt of complaint.
In addition, Maruti will monitor the service being offered to its customers to ensure that the defined
service standards are maintained.
Maruti Finance
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Maruti has partnered with the leading Finance companies in India to provide highly attractive
Finance deals to its customers through its dealers. Maruti Finance is the program under which
these deals are being offered exclusively to customers of Maruti vehicles.
To bring the customer competitive financing, Maruti has launched Maruti Finance. Now the
customer can avail of Maruti Finance services across Guwahati, Maharashtra, Goa, Andhra
Pradesh, Karnataka, Tamil Nadu and Kerala.Maruti has tied up with eight finance companies to
form a consortium. This consortium comprises Citicorp Maruti, Maruti Countrywide, ICICI, HDFC
Bank, Standard Chartered, ABN AMRO, Kotak Mahindra and Sundaram Finance.Best Interest
Rates Maruti Finance offers the best rates of interest. The instalment schemes are designed to
suit the customerr convenience, at a rate that fits the customerr pocket.
Maruti Countrywide Finance
Maruti Countrywide was set-up when GE Capital, HDFC and Maruti Udyog Limited formed a
captive finance company in 1995.A professionally managed company we share the ideals and
work culture of the parent companies. Our prime objective is to cater to the needs of Maruti car
buyers by offering innovative finance schemes for the purchase of Maruti cars
SBI Maruti Car Loans
The country's largest bank and the largest car maker have joined hands to make affordable car
finance available to more and more people across the country. The mega alliance makes car
loans available at lower interest rates to a wider section of people, with transparent terms and
conditions. It is supported by the unmatched combined network of SBI branches and Maruti
outlets.
The Unbeatable Advantages of SBI-Maruti Car Loans
Two market leaders in their respective industries with trusted brand names.
Lowest interest rates of 9.50%*
No processing fees or hidden costs to ensure transparency
No extra charge for repaying loans ahead of schedule
Standardised loans that offer fixed interest rates across models and locations.
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Car loans available for diverse categories of customers including government employees
and agriculturists
More loan amount available as it is extended on the basis of the car's on-road price, not ex
showroom price.Longer loan repayment period -- upto seven years
Interest rates at the time of purchase of the car will be applicable. Interest rates are subject
to change and are at the sole discretion of SBI. Interest rate of 9.50% applicable on repayment
periods up to 36 months. An interest rate of 10.00% is applicable for a repayment periods of 7
years. Credit is at the sole discretion of SBI.
Citicorp Maruti Finance Ltd
Citicorp Maruti Finance Limited was formed when Maruti joined hands with Citibank in May
1998.Located in 23 cities we are the first company that provides services to finance the purchase
of secondhand cars nationally.We also offer a wide range of flexible and customised financing
options at affordable rates to individuals buying a Maruti car.
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Benefits to registered customer.
All owners of MARUTI SUZUKI vehicles who register at www.marutiudyog.com enjoy all these
benefits for free: -
An exclusive My Maruti page for their cars details.
Reminders for service, insurance and PUC certification, and other reminders (anniversary
etc.)
Car pool
Service station locator, including unique maps for cities states and major highways.
Interactive maintenance planner.On-line service booking
Tips for car care, driving, insurance, avoiding and dealing with accidents, etc.
Expert advice
Order Maruti Genuine Accessories on-line
Download owners manual
Special offers like discounts on travel, tyres, etc.
Route guides for driving to holiday destinations
Priory information on events in their city like free service camps, contests etc.
Wallpapers, & screen savers.
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Quality Systems
Maruti Suzuki provides consumer satisfaction through continuous improvement of the products
and services by following PDCA (PLAN-DO-CHECK-ACT) in all functions of the organisation.
ISO 9001:2000
At Maruti, the approach to quality is in keeping with the Japanese practice--"build it into the
product". Technicians the MARUTI SUZUKIelves inspect the quality of work. Supervisors educate
and instruct technicians to continually improve productivity and quality. The movement of quality
indicators is reviewed in weekly meetings by the top management.
In 2001, Maruti Udyog Ltd became one of the first automobile companies anywhere in the world to
get an ISO 9000:2000 certification. AV Belgium, global auditors for International Organization for
Standardisation(ISO), certified Maruti after a four day long audit, covering varied parameters like
Customer Focussed organisation, Leadership, Involvement of people, Process approach, System
approach to Management, Continual improvement, etc.
In May 1995, Maruti got ISO 9002 certification. The audit for this covered quality assurance in
production, installation, marketing and sales as well as after sales services. We were also one of
the first companies in the world to pioneer ISO 9000 certification for our dealers.
In October 1993, MARUTI UDHYOG LIMITED passed the Conformity Of Production (COP) Audit,
which is based on a European Union Directive. This authenticated our quality systeMARUTI
SUZUKI and testing facilities for export to Europe.Our emphasis on total quality has meant that
today we are in a position to guide vendors and dealers in establishing and consolidating their
individual quality systeMARUTI SUZUKI. This commitment to quality has ensured a consistently
satisfying product and world-class sales and after-sales services.
Employee quality measures
Kaizen is based on the concept of making incremental improvements in our products. It
incorporates a series of continuous small and simple improvements, which aim at involving
employees at all levels.
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The Suggestion Scheme is based on the same principle. Under this scheme, employees are
encouraged to make suggestions for improvement in any area of our operation. Over 50,000
suggestions are received from employees every year.
Maruti has won the First place in "Excellence in Suggestion Scheme Contest 2003", which is the
6th consecutive award won in as many years. This contest is organized by Indian National
Suggestion Schemes Association (INSSAN). Since 1998 Maruti has won this award 10 times.
"Quality Circles" are groups of five to eight members from a particular work area who work as a
team to identify priorities and solve work related problem in the area.
The company believes that it is the unwavering commitment to quality that will lead to the further
growth of the organization as competition increases.
TS 16949:2002
A new feather was added recently in Marutis cap in the field of quality when the Quality
Management System of its Press Shop & associated functions (collectively termed as Press
Function) got certification for conformance to the requirements of TS16949:2002 standard.The
need for TS certification of Press Function had its genesis in the prestigious project that Marutiearned for the supply of stamped panels to General Motors India for one of its forthcoming
models.As a part of Quality system requirements, GM requires all its suppliers to be certified to
either ISO TS 16949 or QS 9000.These standards address Quality System requirements, which
are particularly specific to the automotive industry and requires an organization to be in
compliance with ISO 9000 systems as a basic requirement. However, whereas QS 9000 would
become defunct and cease to exist after Dec 2006, TS 16949 is going to be the standard of the
future.
The TS 16949 standard, brought out by ISO in the year 1999, is an extension of the ISO
9001:2000 standard that prescribes Quality management system requirements that are specifically
applicable to the automotive industry.TS 16949 has gained high popularity and almost all major
automobile players across the globe including GM, Ford, Daimler Chrysler, Nissan, Honda are
embracing & promoting it.
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Transfer of Technology
Every minute two vehicles roll out of the Maruti Plant. It is therefore imperative that the transfer of
contemporary technology from the partner Suzuki is a smooth process. Great stress is laid on
training and motivating the people who man and maintain the equipment, since the best
equipment alone cannot guarantee high quality and productivity. From the beginning it was a
conscious decision to send people to Suzuki Motor Corporation for on-the-job training for line
technicians, supervisors and engineers. This helps them to imbibe the culture in a way that merely
transferring technology through documents can never replicate. At present 20% of the companys
workforce have been trained under this programme experts. If a customer books a service with
his dealer he can download the owner manuals. That's not all. The customer can create his own
cyber parking for his Maruti at 'My Maruti'.
At The Time Of Buying
At the time of buying, the customer requires much more than just the car. The customer needs
choice. From the company with India's largest range of cars, the customer now get a variety of
other options too, starting from how much warranty support the customer need, to high-quality
accessories to customized the customers car just the way the customer like. We also recognized
that the customer may need finance not only for the car, but for these value ads. The customer
also deserves the best option for exchanging the customerr old car at its true value. And, while the
customer certainly need insurance, wouldn't it be nice to get a product which settles with the
dealer directl
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Achievements
Maruti created history by going into production in a record 13 months.
On 14 December 1983, the then Prime Minister of India, Mrs Indira Gandhi, released the first
vehicle for sale by handing over the keys of a Maruti 800 to Mr. Harpal Singh of Delhi. We
exceeded the volume targets, and in March 1994, we became the first Indian company to produce
over one million vehicles, a landmark yet to be achieved by any other car company in India. Maruti
is the highest volume car manufacturer in Asia, outside Japan and Korea, having produced over 4
million vehicles by April 2003.
Maruti revolutionized the way Indians looked at cars. "No other car company so completely
dominates its home market" - (The Economist). MARUTI UDHYOG LIMITED is the first and only
car company in the world to lead its home market in the MARUTI SUZUKI of both market share
and in the JD Power Customer Satisfaction study (JD Power Asia Pacific 2000 India Customer
Satisfaction studies). It is also the only car company in the world to be Top ranked four times in a
row (2000, 2001, 2002 & 2003).
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Awards
2003 Dec: Maruti 800, Maruti Zen and Maruti Esteem make it to the top 10 automotive brands in
"Most Trusted Brand survey 2003"
2003 Nov: J D Power ranked 3 models of Maruti on top: Wagonr, Zen and Esteem
2003 Nov: Maruti 800 and Wagonr top in NFO Total Customer Satisfaction Study 2003.
2003 Oct: MARUTI UDHYOG LIMITED tops in J D Power CSI (2001) for 4th time in a row
2001 Oct: MARUTI UDHYOG LIMITED tops in J D Power CSI (2001) for 2nd time in a row:
another international first
2000: Maruti bags JD Power CSI - 1st rank; unique achievement by market leader anywhere in
the world
1999: MSM launched as model workshop in India; achieves highest CSI rating.
1999 July: Central Board of Excise & Customs awards Maruti with "Samman Patra", for
contribution to exchequer and being an ideal tax assessee
1998: CII's Business Excellence Award
1996 Dec: Maruti wins INSSAN award for "Excellence in Suggestion Scheme"
1996 April: awarded the Star Trading House status by Ministry of Commerce
1994-95: Engineering Exports Promotion Council's award for export performance
1994: Best Canteen award among Haryana Industries as part of employee welfare
1992-93: Engineering Exports Promotion Council's award for export performance
1991-92: Engineering Exports Promotion Council's award for export performance
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Conclusion
Thus we can conclude that Kiran Motors Ltd is dealing with automobiles successfully. All
the departments Kiran Motors work hard to achieve the organizational goals. KML possessall important feature required for small organization. To satisfy a customer is not an easy
task. It requires competent work- force. Also efficient pre-sales and post-sales services
should be given to the customers.
The project also gives brief idea about car-finance. Different documents required for loan
are also stated in the project.
In short the project can become a guide for those who are interested in knowing about car
finance.