New Delhi, Jan 25 Osamu Suzuki, Suzuki Motor Corp’s patriarch and long-time chairman who has been conferred Padma Vibhushan posthumously, headed the company for more than 40 years and revolutionised India’s car market with the introduction of the popular Maruti 800 small car.
Osamu Suzuki is among seven personalities who were conferred Padma Vibhushans, one of the highest civilian honours in the country, on Saturday.
Osamu Suzuki, who died in late December last year at the age of 94, shared a good rapport with Prime Minister Narendra Modi.
According to PM Modi, Osamu Suzuki was a legendary figure in the global automotive industry.
“His visionary work reshaped global perceptions of mobility. Under his leadership, Suzuki Motor Corporation became a global powerhouse, successfully navigating challenges, driving innovation and expansion. He had a profound affection for India and his collaboration with Maruti revolutionised the Indian automobile market,” the Prime Minister had posted on X social media platform.
A former bank employee, Osamu Suzuki got his break in the automotive business after his marriage to Shoko Suzuki, granddaughter of Michio Suzuki, who founded Suzuki Motor’s predecessor company in 1909. Osamu Suzuki took his wife’s surname, in accordance with the Japanese custom when there are no male heirs.
His entry into India turned out to be a game-changer as the subcontinent-sized market, saddled with the mid-60s technology Ambassador and Fiat cars, drove up demand for the Maruti 800 small car. The waiting lists of customers stretched for as long as up to three years with the car selling at a premium in the second-hand market.
Suzuki Motor agreed to set up a venture with the Indian government outside New Delhi and acquired a 26 per cent stake in the state-owned carmaker Maruti Udyog in 1982. In December 1983, the venture rolled out the Maruti 800 small car which was an instant hit.
Maruti, now a unit of Suzuki Motor, quickly became the biggest car manufacturer in India and still commands more than 40 per cent share of the market.
Osamu Suzuki’s more than 28 years as president made him the longest-serving head of a global automaker. After stepping down as president in 2000, he became Suzuki Motor’s Chairman and Chief Executive Officer. He came back as president at the age of 78 in December 2008, when Suzuki Motor was expecting its first profit decline in eight years amid the global recession to lead from the front.
Suzuki then passed on the presidency to his son in June 2015 and took over as Chairman and CEO, but then resigned as CEO over an embarrassing fuel-economy misstatement.
Suzuki was a man of spartan habits and was known to fly economy class even during his old age as part of his frugal lifestyle.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor