In 1989, the Maruti 1000 was introduced and the 970 cc, three-box was India’s first contemporary sedan. By 1991, 65 percent of the components, for all vehicles produced, were indigenized. After liberalization of the Indian economy in 1991, Suzuki increased its stake in Maruti to 50 percent, making the company a 50-50 JV with the Government of India the other stake holder.
In 1993, the Zen, a 993 cc, hatchback was launched and in 1994 the 1298 cc Esteem was introduced. Maruti produced its 1 millionth vehicle since the commencement of production in 1994. Maruti's second plant was opened with annual capacity reaching 200,000 units. Maruti launched a 24-hour emergency on-road vehicle service. In 1998, the new Maruti 800 was released, the first change in design since 1986. Zen D, a 1527 cc diesel hatchback and Maruti's first diesel vehicle and a redesigned Omni were introduced. The 1.6 litre Maruti Baleno three-box saloon and Wagon R were also launched.
In 2000, Maruti became the first car company in India to launch a Call Center for internal and customer services. The new Alto model was released. In 2001, Maruti True Value, selling and buying used cars was launched. In October of the same year the Maruti Versa was launched. In 2002, Esteem Diesel was introduced. Two new subsidiaries were also started: Maruti Insurance Distributor Services and Maruti Insurance Brokers Limited. Suzuki Motor Corporation increased its stake in Maruti to 54.2 percent.
In 2003, the new Suzuki Grand Vitara XL-7 was introduced while the Zen and the Wagon R were upgraded and redesigned. The four millionth Maruti vehicle was built and they entered into a partnership with the State Bank of India. Maruti Udyog Ltd was Listed on BSE and NSE after a public issue, which was oversubscribed tenfold. In 2004, the Alto became India's best selling car overtaking the Maruti 800 after nearly two decades. The five-seater Versa 5-seater, a new variant, was created while the Esteem was re-launched. Maruti Udyog closed the financial year 2003-04 with an annual sale of 472,122 units, the highest ever since the company began operations and the fiftieth lakh (5 millionth) car rolled out in April 2005. The 1.3 L Suzuki Swift five-door hatchback was introduced in 2005.[17]
In 2006 Suzuki and Maruti set up another joint venture, "Maruti Suzuki Automobiles India", to build two new manufacturing plants, one for vehicles and one for engines.[17] Cleaner cars were also introduced, with several new models meeting the new "Bharat Stage III" standards.[17] In February 2012, Maruti Suzuki sold its ten millionth vehicle in India.[12] For the Month of July 2014, it had a Market share
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