Innovations in the Indian Automobile Industry: An Industry Analysis of Maruti Suzuki India Limited

Abstract

Purpose: The Indian automobile industry is adopting new technologies to upscale its business post-pandemic. Information centric technology plays a major role in the industry. Business automation refers to the use of software programs to automate monotonous operations, freeing up personnel for higher-value work. Business process automation, robotic process automation, and AI-powered automation are all included in this. Automobile manufacturers are not just limiting digital technologies to their factories and vehicles. They are trying to automate other aspects, such as dealership, sales, and customer service. The automobile industry is undergoing digital transformation at a very fast rate. The main reason for manufacturers to opt for digital transformation is savings on cost, customer retention, and scaling up operations. One such industry in the country is Maruti Suzuki India Limited, which has been integrating digital technologies into many parts of its supply chain in both urban and rural locations. With the purpose of identifying new skills, and investment opportunities, and finding contemporary solutions using data and breakthroughs in the fields of AI, IoT, and other associated technologies, the company recently dedicated almost 20 Crore towards digital transformation. Design/Methodology/Approach: Many digital initiatives are taken up by Maruti Suzuki India Ltd. to ensure that the customer journey is digital and self-service oriented. This paper highlights the paradigm shift in the business with respect to Maruti Suzuki India Ltd. due to its innovation. For the purpose of the study, secondary data is collected through various sources such as journals, research articles, newspaper articles and websites of Maruti Suzuki India Ltd. and other ventures. Findings/Result: The study highlights the innovative practices that have been adopted at Maruti Suzuki India Ltd. The paper explains how digital transformation acts as an enabler in improving the business of the company. The company has been able to predict and forecast its sales and achieve its targets because of digital transformation. The company provides maintenance of all vehicles across all segments – the secret being shifting focus from preventive maintenance to predictive maintenance. The company’s brand value and net worth have increased to unimaginable heights. Originality/Value: This paper studies the company’s overall performance in terms of delivering customer satisfaction to all its stakeholders. Paper Type: Research Case study based on Industry Analysis.