India's biggest and the most selling automaker Maruti, are aiming to sell 70,000 units of their newly launched model, the Maruti Ciaz in India.
The newly launched mid-sized premium sedan has already received 10,000 bookings and 60 percent of the bookings are for the diesel variant.
The Ciaz is built on a totally new platform. The company, along with its investors have invested INR 620 crore to develop this new mid-sized sedan.
Maruti Suzuki recorded a growth in sales of 44.7 percent in the first half of this fiscal from April to September. The company was expecting a double digit growth, while the Automobile industry as a whole grew by single digit. During the period of April to August a year ago, Maruti Suzuki grew by 15.8 percent while the Auto industry grew -2.9 percent.
While the price difference between petrol and diesel prices narrowing, the demand for diesel powered vehicles has declined. During 2012-13, diesel powered vehicles accounted for 58 percent sales of industry volumes which has dropped to 53 per cent during the year 2013-14.
Kerala was among the top regions that sell one lakh units of Maruti a year, which has helped Maruti increase their market share by 2.2 percent to 53 percent.
The petrol variant of the Ciaz starts from INR 7.40 lakh (ex-showroom Cochin) and the diesel variant of the Ciaz starts from INR 8.47 lakh.