Osamu Suzuki, the visionary who revolutionized India’s automobile market with the introduction of the Maruti 800 has passed away at the age of 94. Suzuki who led Suzuki Motor Corp for over four decades succumbed to lymphoma on December 25 as confirmed by the company’s statement.
Born into a banking family, Suzuki’s entry into the automotive industry was facilitated by his marriage to Shoko Suzuki, the granddaughter of Michio Suzuki, the founder of Suzuki Motor’s predecessor company in 1909. In line with Japanese tradition, Osamu adopted his wife’s surname as there were no male heirs in the family.
Suzuki’s foray into India proved to be a game-changer. The Indian market, which was dominated by outdated Ambassador and Fiat cars from the mid-60s, saw a surge in demand for the Maruti 800. The waiting lists for this small car extended up to three years, and it fetched a premium in the second-hand market. In 1982, Suzuki Motor agreed to establish a venture with the Indian government outside New Delhiacquiring a 26% stake in the state-owned carmaker Maruti Udyog.
The venture launched the Maruti 800 in December 1983, which became an instant hit. Maruti, now a Suzuki Motor unit, quickly rose to become India’s largest car manufacturer, commanding over 40% of the market share.
Suzuki’s leadership spanned over 28 years, making him the longest-serving head of a global automaker. After stepping down as president in 2000, he assumed the roles of Chairman and CEO of Suzuki Motor. He returned as president in December 2008, at the age of 78, when the company was facing its first profit decline in eight years due to the global recession. In June 2015, Suzuki passed on the presidency to his son but continued as Chairman and CEO.However, he resigned as CEO following a fuel-economy misstatement scandal that tarnished the company’s reputation and triggered a sell-off of shares. Despite this setback, Suzuki remained Chairman until 2021, accepting a 40% pay cut and maintaining his frugal lifestyle, which included flying economy class even in his old age.
Suzuki’s journey was not just limited to the automotive industry. According to a Bloomberg report, he aspired to become a politician and worked part-time as a junior high school teacher and night guard while completing his law degree at Chuo University in Tokyo. After graduating in 1953, he worked at a bank until his marriage led him to join the family business. Suzuki’s impact on the automotive industry was not just limited to India.
He also formed partnerships with General Motors Co. and Volkswagen AG to sell vehicles in North America and Europe, and a capital alliance partnership with Toyota in 2019. His memoir, I’m a Small-Business Boss, published in 2009, encapsulates his relentless drive and determination, with quotes like, “Never stop, or else you lose.”
Suzuki’s legacy continues to influence the automotive industry. For instance, Maruti Suzuki recently launched the fourth-generation version of its highly popular hatchback, Swift, despite the growing consumer preference for SUVs. This move raises an important question about the future of hatchbacks in an SUV-dominated market.
Suzuki’s passing comes at a time when the advent of electric cars is starting to disrupt the world’s legacy automakers. His leadership, vision, and relentless drive have left an indelible mark on the global automotive industry, and his legacy will continue to influence future generations. His life and work serve as a testament to his unwavering commitment to innovation and progress, forever etching his name in the annals of automotive history.