Maruti Suzuki to launch its most expensive car in India

The company is hoping to capture a fair share of the market with the vehicle that will be sold in petrol and hybrid options, TOI reported quoting Shashank Srivastava, Director (Sales & Marketing).

The country’s largest carmaker is looking to gain a foothold in the above Rs 20 lakh segment with the new model after having attained leadership in the Rs 15-20 lakh vehicle segment last fiscal.

The three-row SUV/MPV segment stood at around 2.58 lakh units last fiscal with vehicles priced over Rs 20 lakh accounting for around 1.2-1.25 lakh units, he noted.

“We feel there is a market for three-row premium MPV/SUVs out there. There are customers who are looking for a premium three-row vehicle which is either an MPV or an SUV or has characteristics of both,” Srivastava told PTI in an interview on Tuesday.

MSI plans to commence bookings for the Invicto, which would be sold through its Nexa retail channel, on June 19, Srivastava said.The Invicto will be launched on July 5 by Maruti. The car will be produced at Toyota’s factory outside Bengaluru in Bidadi, Ramanagara District. It will be sold in Nexa retail showrooms.In the Rs 10-15 lakh category, we have become the leaders with a market share of around 30 per cent. Now we are foraying into this three row segment above Rs 20 lakh with this vertical now becoming popular among buyers,” Srivastava said.

The product will also have a good rub-off effect on the overall brand image of the company, he added.

“Hopefully like in the Rs 10-15 lakh category where we quickly became market leaders, we hope that in the over Rs 20 lakh segment also we are able to get a substantial market share,” Srivastava said.

MSI aspires to become the leading SUV player this fiscal with a market share of around 25 per cent. It has recently launched two models Fronx and Jimny to strengthen its product range.

The two companies, Suzuki and Toyota have signed an agreement which allows them to share products and platforms alongside working on developing new technologies for the Indian market.

Toyota has been facing challenges owing to the disruptions in the supply chain. Due to the supply chain shortages, there is uncertainty about the number of cars that Toyota will be able to manufacture and be able to supply to Maruti.

This shortage has forced Toyota to temporarily discontinue the sale of its top-end variants as waiting lists ran up to two years. In addition, the shortage has also not allowed Invicto’s Toyota Hycross to scale up.

Two automakers in India will be using this new launch as a way to fight against the South Korean and local automakers in the country. Automakers sees Tata Motors, Mahindra along with the duo of Hyundai and Kia to be their competitors.

(With inputs from TOI, PTI)