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Maruti Udyog Limited (MUL), incorporated in 1983, is India`s largest automobile company. The company is a subsidiary of Suzuki Motor Corporation. The other activities of the company comprise facilitation of pre-owned car sales, fleet management and car financing. It is the market leader in the passenger car segment with a share of 60%. MUL has three fully integrated production facilities in Gurgaon, Haryana with a combined capability of 500,000 units per annum. On an average basis, the company rolls out 2 vehicles from its factory every minute. The product range includes ten basic models with 50 variants. It has operations in over 100 cities with more than 150 outlets and also exports around 30,000-vehicles per annum to 50 countries. MUL has subsidiaries, namely, Maruti Insurance Brokers Ltd., Maruti Insurance Distribution Services Ltd., True Value Solutions Ltd., Maruti Insurance Agency Solutions Ltd. and Maruti Insurance Agency Network Ltd. During 2005, the company established a new company Maruti Suzuki Automobiles India Ltd. in collaboration with Suzuki Motor Corporation for setting up a plant with a total investment of Rs 15,242 million. MUL has plans to manufacture diesel engines, petrol engines and transmission assemblies for 4-wheelers in collaboration with Suzuki Powertrain India at an investment of Rs 17.5 billion. It is also planning to increase its purchase of steel from domestic companies to prune production cost and compensate for increase in steel prices.