pak suzuki case study

8/12/2019 PAK Suzuki Case Study

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Pak Suzuki Motor Company LimitedThe war of high segment cars.

1. Abstract:Suzuki Company needs to focus more positively on higher segment of the automobileindustry which is 1300CC to 1800CC cars. The company is doing well in low segment(800cc to 1000cc) cars in which they have got the highest market share. Suzuki hasgot the highest market share (62 percent market share), needs to think about highsegment seriously. One of the foreseeable events, the third phase is Global Era forPakistan automobile industry, this era starting from 2012 onwards in which the autoindustry will transform itself for the purpose of becoming a global player bymaximizing their value added production, in that specific area Pak Suzuki has nospecialties. With the start of Global Era Phase due to mass production level theindustry experts are anticipating to accomplish the huge scales which is supported bythe size of GDP of $210 Billion by 2012 and Per capita income reaching to $ 1,300.Globalization and dynamic environment leads the auto industry towards thedevelopment of skilled people, acquisitions, technological development,advancement of Infrastructure and living conditions, all these things push the autoindustry to Produce fuel efficient, high standard and environment friendly vehicles,and at the same time meeting or exceeding customer expectations. The consumerstill have a lot of concerns about quality, safety and after sale service along withrelatively less fuel efficient engine technologies and features of the cars are still thegrowing challenges for the Pak Suzuki Motor Company Limited.

The major problem that the Suzuki Company currently facing is in the form of SuzukiLIANA, whichdoes not fulfill the customers needs and not able to sustain the marketit was made for. Although the company has continued its journey in higher segment,

recently company launched a new model Suzuki SWIFT in the market, and it lookslike an attractive move of the company in the 1300cc class. But still company hasdone nothing to compete with HONDA and TOYOTA.

Key words: Pak Suzuki Motor Company (PSMC), Auto Industry Development Program(AIDP), higher segment (1300cc to 2000cc cars), low segment (800cc to 1000cc cars),EDB (engineering development board), PAMA (Pakistan Automotive ManufacturersAssociation).


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2. History:Pak Suzuki Motor Company Limited is a joint venture between Pakistan AutomobileCorporation and Suzuki Motor Corporation (SMC) - Japan. The Company wasincorporated as a public limited company in August 1983 and started commercialoperations in January 1984. Initially SMC got the market share of 12.5% and with thepassage of time increased to 73.09%. Pak Suzuki has annual production capacity of150,000 and with largest manufacturing facilities, PSMC is considered to be thebiggest player in automobile business. The company has a huge product line whichincludes cars, small vans, Cargo vans and Motorcycle. PSMC followed the aggressivepolicy of Indigenization, The capability to manufacture a product independentlywithin a country instead of relying on foreign manufactures or suppliers. Suzukivehicles have a healthy local content up to 72%. It is because of strong support ofvendors.

PSMC has the Dealers network on a large scale consisting of 3S (Sales, Service andSpare Parts) facilities across Pakistan. PSMC also involved in social responsibility inwhich caring for the Environment Pak Suzuki was the first to introduce Factory fittedCNG vehicles. PSMC always attempted to achieve a goal aggressively for the purposeof developing a society by increasing industrialization and improving the quality oflife and living standard by creating job opportunities and with the combined efforts

of all the dealers, vendors and Pak Suzuki employees. The major automobilecompanies in Pakistan have been set up as joint venture with foreign multinationalcompanies. Joint Ventures for Automotive Vehicles (See Exhibit: 1)

(Exhibit: 1)Joint Ventures for Automotive Vehicles:

Company Joint Venture Product Indus Motor Company Toyota, Japan and Daihatsu,

JapanToyota and Daihatsu Cuore

cars

Atlas Honda Ltd. Honda, Japan Honda Cars, HondaMotorcyclesPak Suzuki Suzuki, Japan Suzuki cars

Suzuki Motorcycle PakistanLtd.

Suzuki, Japan Suzuki Motorcycles

Ghandara Nissan Nissan, Japan Cars and TruckDewan Farooq Motors Ltd. Kia and Hyundai, Korea Cars and LCVs

Raja Motor Co. Fiat, Italy CarsSource: PAMA
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3. Suzukis product line;SWIFT (1300cc), LIANA (1300 & 1600 cc), CULTUS (1000cc), ALTO (1000cc), MEHRAN(800cc), APV (1500cc).

4. Suzukis Vision and Mission;

4.1 VISION:Excellence in all respects.

4.2 MISSION:Our mission to realize this vision is, to provide automobile of international quality atcompetitive price, to improve skills of valued employees by imparting training and

inculcating in them a sense of participation, to achieve maximum indigenization andpromote Pakistan`s automobile vending industry. To make valuable contribution tosocial development of Pakistan through development of industry in general andautomobile industry in particular.

5. Industry analysis; Pakistan auto industry faces a Preparation Phase 1985 -05 which was also calleddeletion programs. In these programs formulation and implementation ofcompulsory local content conditions was adopted. Functions of these programs wereon the basis of Industry Specific Deletion Programs (ISDPs) and Product SpecificDeletion Programs (PSDP). Under these programs assembler had an option to choosecomponents from a basket based on their individual values. The EDB had theresponsibility to check whether the targets are achieved by conducting audit and alsocheck the shortfalls of deletion targets.

The auto industry is going to face the Development Phase 2005- 12 that phase

consist of developing different strategies to transform the industry into a newcompetitive environment. In this phase the main focus of the government was tofacilitate the environment for the auto industry to enhance their production capacityto achieve mass production. In this phase more focus was on the issues of humanresource development, R&D, technology acquisition, competitiveness, innovation,creativity and investment rather than tariff management, although it remains one ofthe valuable tools for policy makers. During the preparation phase, major role for theassemblers was to transfer technologies, provide help and assistance for developingthe vendors, enhancing the management skills to fulfill market and consumer needs.The import of reconditioned cars remained low because of high import duties. High


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import of used cars in the last 2 to 3 years was however, to bridge temporarydemand-supply gap. In 2006 was indeed a Systematic shift in the businessenvironment in the form of tariff rates. Assemblers was not forced to implementlocal content conditions, they have got the choice of buying the vehicles componentsat most competitive price, quality and improved supply chain. (See exhibit: 2)

(Exhibit: 2)

Import of Vehicles Tax Slabs:

Type of vehicle(meant fortransport ofpassengers)

CustomsDuty on Value

Assessed (See Para13below)

Sales

IncomeTax on SalesTax paidvalue

Special FederalExcise Duty on dutypaid value

Used vehicles (Not covered underspecial regime)

From 1601 CC to 1800 CC (Other than Asian makes)

15.00% 5.00% 1.00% From 1601 CC to 1800 CC (Jeeps)

15.00% 5.00% 1.00% From 1801 CC and above

15.00% 5.00% 1.00%New Cars (Regular import or underaforesaid three schemes)

Up to 800 CC50.00% 15.00% 5.00% 1.00%

From 801 CC to1000 CC 55.00% 15.00% 5.00% 1.00%

From 1001 CC to1300 CC 60.00% 15.00% 5.00% 1.00%

From 1301 CC to1500 CC 60.00% 15.00% 5.00% 1.00%Source: Import of Vehicles Taxpayers Facilitation Guide (FBR) table 3.


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One of the foreseeable events, the third phase is Global Era for Pakistanautomobile industry, this era starting from 2012 onwards in which the auto industrywill transform itself for the purpose of becoming a global player by maximizing theirvalue added production. The most important benefit auto industry has in the form ofestablished vendors, huge number of vendors; they have developed themselvesduring the second phase. Now they are in a position to recognize the design andtechnicalities require for manufacturing components in house or through othervendors. As auto industry is going to become a global player, so the role of vendors isvery much important in the global supply chain, because industry experts areexpecting that many of the overseas assemblers outsource manufacturing ofcomponents to them. With the start of Global Era Phase due to mass productionlevel the industry experts are anticipating to accomplish the huge scales which is

supported by the size of GDP of $210 Billion by 2012 and Per capita income reachingto $ 1,300. Globalization and dynamic environment leads the auto industry towardsthe development of skilled people, acquisitions, technological development,advancement of Infrastructure and living conditions, all these things push the autoindustry to produce fuel efficient, high standard and environment friendly vehicles,and at the same time meeting or exceeding customer expectations. The overseascompanies are now looking to export and manufacturing cars by using Pakistanimarket as a regional hub. The consumers still have a lot of concerns about quality,

safety and after sale service along with relatively less fuel efficient enginetechnologies and features of the cars are still the growing challenges for the localautomobile industry.

Pakistan auto sector operates on a large scale and they have got the investment of Rs98 billion, and this sector contributed about Rs. 63 billion as indirect taxes. Autosector also creates lot employment opportunities as it employs about 192,000people directly and around 1.2 million indirectly. Pakistan auto industry also playingan important role in the development of an economy, as the sector payingapproximately Rs. 08 billion per year in the form of taxes and contributed more thanRs 30 billion to countries GDP. Although the industry is going slowly but it has got thehigh potential in the coming years. Pakistans total share of car and commercialvehicles remains 0.37% of the world production during the year 2006-07. (Seeexhibit: 3)

(Exhibit: 3)


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Installed Capacity of Cars and Light Commercial Vehicles (LCVs):Organization Capacity Unit/Annum

Pak Suzuki Motor Co. Ltd, KarachiPublic Limited Company with 72.82%

shares and management held bySuzuki Motor Corporation, Japan.

150,000

Indus Motor Co. Ltd, KarachiJoint venture between Habib Group,Pakistan,Toyota Tsusho Corporation, Japan(Toyota and Cuore

50,000

Honda Atlas Cars (Pak) Ltd, LahoreJoint venture between Atlas Group

Pakistan andHonda Motor Co. Japan.

20,000

Ghandhara Nissan LtdTechnical cooperation agreementwith Nissan Motors, Japan.

6,000

Dewan Farooq Motors LtdTechnical cooperation agreementwith HyundaiCorporation, South Korea.

25,000

251,000Source: PAMA (Updated to FY. 2007-2008)

6. Recent Developments in Automotive Industry; Pak automotive industry has recently created system enhancement, technologicaldevelopment and skills improvement on the basis of forward and backwardintegration, and all these things provide help to the rest of technical and engineeringsector as well. Because local material is used in manufacturing, so industrys

backward integration for materials and toolings such as steel, aluminum, copper,plastics & chemicals, rubber & glass and its forward linkages in the form of retail &wholesale, dealerships & logistics, workshops & maintenance, filling stations, finance& insurance, marketing, advertising and consultancy services and trade, it stand toreason that all these things plays a vital role for the development of auto industry infuture as well. If we look at the other side of the picture, material prices are decliningin overseas market so companies can reduce per unit cost and increase profits.


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7. Government Reforms for Automotive Industry; Now automotive industry is becoming a global thespian by achievingcompetitiveness, critical mass production and contribution to Pakistan s GDP 5.6%by 2012 through attracting domestic and foreign investment in the auto industry anddevelopment of human resource through a well-constructed policy framework andfor the development of new innovative technology. Over next five years which areoffering many challenges and obstacles, important is being continuing the highgrowth, achieving competitiveness, investment in compliance to safety and qualitymanagement standards. The goals set by the government and automotive industrytogether can only be achieved by inclusive policy development through which crosssectional issues can be addressed. The government of Pakistan has initiated theAutomotive Industry development Program (AIDP) for the sake of address issuesincluding the predictability of auto production and stable tariff for the next fiveyears. The (AIDP) undertaken by the government for the development of theautomotive industry. The Engineer Development Board (EBD) has the authority forthe implementation of this program to boost car production capacity to half a millionunits as well as attract the investment of US$ 3 Billion and reach the auto exporttarget of US$ 650 Million.

The low cost production issues to compete in international market, adopting new

global emerging trends and dynamics of fuel efficient and environment friendlyvehicles, and the contribution in GDP remain dominant in the policy environment. Asfuel prices increasing rapidly, demand to produce fuel efficient and hybrid cars arealso under the consideration. The role of foreign investors and their interest in theautomotive industry speaks about a lot of potential and growth opportunities forproduction and export. Pakistan Automotive industry has positioned to become aglobal choice for outsourcing and becoming the part of global supply chain.Government of Pakistan had undertaken major initiatives in the form of NationalTrade Corridor Improvement Program (NTCIP) that reduces inefficiencies likereduction the cost of doing business, increasing economic growth and increasingexport competitions.


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8. Competition;

8.1 Indus Motors company Pakistan :Indus Motors Company Pakistan production facilities are located at Port Bin Qasim

Industrial Zone near Karachi in an area of over 105 acres. Indus Motor Company splant is the only manufacturing site in the world where both Toyota and Daihatsubrands manufactured. Huge investments are made to build its production facilitiesbased on state of art technology. To ensure high degree of productivity, Toyotaproduction systems are implemented. Indus Motors Company Toyota production lineincludes six variants of the newly introduced Toyota Corolla, Toyota Hilux SingleCabin 4x2 and versions of Daihatsu Cuore.

8.2 Toyota Corolla:The Toyota Corolla has been achieving success as a strong brand science 1970 inPakistan when Toyota Corolla was not manufactured in Pakistan but at the importbasis this brand tremendously took place in the Pakistan automotive market. Themost famous series of Corolla are 1976, 1978, 1986 and the list of early series of themodels is still considered as powerful and memorable brands. Toyota Corollaassembling progressive manufacturing and marketing in Pakistan since July 01, 1990.Corolla brand has already established in Pakistan auto market. So there was no hardstruggle made to establish the brand.

Toyota Corolla is well standardizing product in the market and its current series is1300cc XLI, GLI Cruisetronic in each of the product they provide state of the artfeatures, reliability and serviceability to make more loyal customers.

8.3 Honda: Honda Cars Pakistan Limited is a joint venture between Honda Motor CompanyLimited Japan and the Atlas Group of Companies Pakistan. The joint venture wasinitiated on November 1992 and joint venture agreement was signed on August1993. Science the commencement of production in 1994, the company has producedand sold more than 150,000 cars until October 2008. The company also regularlyconducts service campaigns to facilitate customer s need for service. This has given

to customers absolute confidence in the product evident from the increasing salesvolume. It is the constant endeavor of the Honda Atlas Cars (Pakistan) Limited toachieve No.1 customer satisfaction. Honda Atlas Cars (Pakistan) Limited is committedto meet customer satisfaction and to provide good value of money.


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0

20,000

40,000

60,00080,000

100,000

120,000

140,000

160,000

180,000

200,000

U n i t s i n T

h o u s a n

d

production of cars:1300cc, 1000cc, 800cc

Units in Thousand

9. Increasing trends in higher segments ;After the disaster of September 11, 2001 increased in the home remittances hasresulted in increased liquidity in the market therefore, people started to invest incars. At that time growth in high capacity car s segment increases. It becomes easyto purchase new cars due to cars loans provided by banks. In order to fulfill risingdemand the automotive production capacity increased. Because of that massproduction the domestic car engine technology lags years behind the world marketsand people were unable to get the benefits of new technology. (See exhibit: 4).

(Exhibit: 4)Production of Cars:

Source: PAMA


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10. Problems of Suzuki in Higher Segment Cars;Suzuki has more focused on price competitiveness in higher segment of cars ratherthan quality and innovation. Suzuki has more than 50% share in low segment vehiclesbut lacking far behind in higher segment cars. The development of highly skilledhuman resource and partnership with venders, acquisition of technology andinfrastructure, incorporating the environment changes will drive the automotiveindustry to produce high standard, fuel efficient and environment friendly vehicles inthe better price range along with satisfying the customer requirements andexpectations. The consumers concern on quality, safety and after sale services alongwith relatively less sophisticated engine technologies and features are still thegrowing challenges for the automotive industry of Pakistan, especially for Pak SuzukiMotors Company Limited.

Major setbacks to Pak Suzuki Motors Company Limited (PSMC) was in the shape ofSuzuki LIANA and BALINO, which was not able to compete neck to neck competitionwith its competitors, Honda city, Honda civic and Toyota corolla because of unable tomeet the customers expectations and could not grasp the market. But PSMC didntstop its journey there, and now Suzuki SWIFT has recently been launched in themarket, which seems to be an attractive offer for the auto market in 1300ccsegment, but still PSMC has nothing to compete with HONDA and TOYOTA. The

gaining advantages of loyal customers before starting production of Toyota Corollabrand in Pakistan, they didnt need to much hard struggle to give awareness andmake customers because of strong brand loyalty perception. So if we are talkingabout higher segment (1300cc to 2000cc) cars Toyota Corolla is the leader in Pakistanfollowed by Honda and then Suzuki.

Now Suzuki is focusing upon production to meet the market demand in small 800ccand 1000cc cars segment. The reason was deletion program is replaced by tariffbased program from year 2006 to encourage local automobile part manufacturers to

enhance their productivity and decrease in the price as there are incentives in termof using local parts. As far as this is helpful in declining the price of cars but on theother hand it cause serious problems in quality and innovation. Pak Suzuki hasgreater advantage then Honda in this policy because the Suzuki has a perception oflow cost normal quality car by using local manufacturing auto parts. Suzuki has notserious decline in its perception if it uses the local manufactured auto parts if Hondauses local parts their perception of high quality could decline. So decline intechnology will destroy the customer s confidence on brands and cons umer will shift

focus on imported vehicles.


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The concept of CNG (compressed natural gas) in Pakistan also raises the demand ofautomobiles in the country because CNG is cheaper than petrol. Pakistan nowbecomes the first country in the world who consumes the CNG in automobiles.Suzuki lays its focus by serving the low segments by introducing CNG kits in cars buton the other side now people became very conscious to buy the car even invest inthe car market and rapid growth in the consumer financing from banks and othercompanies provide the opportunity to buy latest models having more innovativefeatures compare to international top brands as they also reflect the status symbol.(See exhibit: 5)

(Exhibit: 5)CARS (Number of units sold)

CARS: Number of unitssold

2005-06

2006-07

2007-08

2008-09

2009-10

2010-11

2011-12

1300-1600cc (2000cc Diesel) July'11-Jun'12

Honda Honda (civic) 11,998 6,513 5,762 4,662 5,908 6,365 4,977Honda (city) 16,136 11,848 8,439 6,482 8,212 9,121 7,142

Honda Total: No. of unitssold

28,134 18,361 14,201 11,144 14,120 15,486 12,119

Toyota Toyota Corolla (No. of units

sold)30,527 35,762 33,640 26,760 43,510 41,111 46,207

SuzukiSuzuki (Baleno) 3,173 0 0 0 0 0 0Suzuki (Liana) 4,571 6,067 8,439 851 1,025 470 450

Suzuki (Swift) ~ ~ ~ ~ 2,353 4,080 7,040Suzuki Total (No. of units

sold)7,744 6,067 8,439 851 3,378 4,550 7,490

Grand Total 46,015 47,896 50,518 28,462 50,266 50,211 61,187Source: PAMA


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(Exhibit: 6)

Source: PAMA

Pakistan automotive industry is not equipped to undertake research anddevelopment due to relatively weak technical base and risk evasiveness of producers.

Technology acquisition costs vary with the type and extend of sophistication. Cuttingedge technology transfers are difficult and may be the major factor.

Toyota transfer technology directly to local venders for manufacturing parts.Manufacturing facility is audited first to judge the potential of a local vendor beforepermitting him to produce sample of the part for testing approval. Japan is ready toprovide technical assistance up to certain level, but still no adequate infrastructureand skilled human resource has been developed to meet the desired standard. Anaverage of only 45% parts of various models has been permitted to be developinglocally by Toyota after their extensive test trail in Japan. Due to non-availability ofexpensive quality control equipment, all safety components are imported. Highlytrained engineers and technicians are also sending to Toyota Behren Training Centerfor further skills enhancement. Manufacturing knowhow is transferred directly tolocal vendors as per their qualification and skills, whereas assembly and operationalknowhow is provided to Indus Motors Company.

Due to the increasing demand of automobile rapidly and non-availability of strong

competitors in local market, the company remains unable to meet the technologicalassistance requirements of local vendors to the desired level. Still no adequate

05,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

1300cc (No.of units sold)

Honda Total (no.of units sold)

Toyota (Corolla no.of units sold)

Suzuki Total (no of units sold)


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quality control standards are emphasizing to meet the required standards of theautomobiles. This has result in consistently deteriorated quality of the finish productsespecially in Mehran, Bolan and Alto vehicles. The benefits achieved by Suzukiinclude saving of foreign exchange through development of 65% parts locally. Localindustry is promoted and develops resulting in employment benefits and economicboost as per Pakistan government policy but it results in lack of innovation and majorquality initiatives the Suzuki s product line that cause the failure of the cars in highersegments.

Honda Motors Company Japan is getting only 5% parts manufactured locally, due tonon-implementation of government policy (AIDP) forcefully and avoid giving anydesign and manufacturing knowhow to local vendor industry. They are opinion that

due to non-availability of research and development infrastructure, it is extremelydefault for Honda to provide any manufacturing technology to Pakistan. Instead ofrelying on local vendors, Honda has continued to improve their vehicle parts. It canbe a short term advantage for them but in the long run they are losing credibility inlocal market through increased production cost, depreciation of currency value andnon-availability of local vendors for manufacturing their vehicle parts.

By the start of Global Era Phase the automotive industry is expected to achieve thehigh scale of production level and supported by the size of GDP of US$ 210 Billion by

2012. Global flattening, information systems and development of technologies,improvement of infrastructure and living conditions will drive the automotiveindustry to produce high standard, fuel efficient and environment friendly vehicles ina better price range and satisfying consumers expectations. It is a major challengefor the local car assemblers to achieve the acceptability of vehicles in the globalmarket. They need to be more concern about these challenges. (See Exhibit: 7)


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Sales of Cars (Exhibit: 7)

CAR 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12

1300-1600cc (2000cc Diesel) July'11-Jun'12

Honda (Civic) 11,998 6,513 5,762 4,662 5,908 6,365 4,977Honda (City) 16,136 11,848 8,439 6,482 8,212 9,121 7,142Suzuki (Baleno) 3,173 0 0 0 0 0 0Suzuki (Liana) 4,571 6,067 8,439 851 1,025 470 450Suzuki (Swift) ~ ~ ~ ~ 2,353 4,080 7,040Toyota (Corolla) 30,527 35,762 33,640 26,760 43,510 41,111 46,2071000cc Suzuki (Khyber/ Cultus) 21,390 29,837 27,563 9,198 12,658 11,428 13,693Suzuki (Alto) 16,823 21,988 19,097 6,550 10,794 11,932 16,288Hyundai (Santro Plus) 7,031 3,470 2,227 404 244 0 0

800c Daihatsu (Cuore) 7,883 12,776 12,204 5,852 5,301 6,007 3,857Suzuki (Mehran) 35,982 37,007 35,526 13,421 22,513 24,119 35,131Suzuki (Bolan) 10,451 15,566 17,209 8,664 11,439 13,311 22,540TOTAL CARS: 165,965 180,834 164,650 82,844 123,957 127,944 157,325Source: PAMA

Market Shares for FY-Year 2011-2012 (Exhibit: 8);

CARS Units Sold (nos.) Market Share (%)Suzuki 95,142 62%

Toyota 46,207 30%Honda 12,119 8%

Hyundai 0 0%Nissan 0 0%

Kia 0 0%

Total 153,468 100

Source: PAMA

Cars

Suzuki

Toyota

Honda

Hyundai

Nissan

Kia


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11. In future;One of the foreseeable events, the third phase is Global Era for Pakistanautomobile industry, this era starting from 2012 onwards in which the auto industrywill transform itself for the purpose of becoming a global player by maximizing theirvalue added production. . With the start of Global Era Phase due to massproduction level the industry experts are anticipating to accomplish the huge scaleswhich is supported by the size of GDP of $210 Billion by 2012 and Per capita incomereaching to $ 1,300. Globalization and dynamic environment leads the auto industrytowards the development of skilled people, acquisitions, technological development,advancement of Infrastructure and living conditions, all these things push the autoindustry to Produce fuel efficient, high standard and environment friendly vehicles,and at the same time meeting or exceeding customer expectation. To fulfill theabove stated requirements it means more focus on product development,technology, R&D, and innovations, Pak Suzuki lacks the expertise in all these areas,so in order to earn huge profits in higher segments and to remain in competitionwith Toyota and Honda, strategically Pak Suzuki has to think about it seriously.

pak suzuki case study

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