Maruti Suzuki Plans To Launch New Small Car Within Three Years

Maruti Suzuki is planning to launch its new small car in the Indian market within three years.

By Sukesh

India's largest car manufacturer Maruti Suzuki has been in a strong pitch with its midsize models such as Vitara Brezza, Baleno and Ciaz. Now the company plans to launch a new small car to strengthen its position in the entry-level segment.

Maruti Suzuki Plans To Launch New Small Car Within Three Years

Earlier it was reported that, overwhelmed by the success of Vitara Brezza, Suzuki Motor Corporation (SMC) handed over the responsibility of developing the next-gen Alto to its Indian subsidiary.

Maruti Suzuki Plans To Launch New Small Car Within Three Years

Managing Director, Maruti Suzuki India Limited (MSIL), Kenichi Ayukawa confirmed this development. He said, "We are working on a pipeline of products across segments, and are looking at a small car at the entry-level which will come in the next 2-3 years."

Maruti Suzuki Plans To Launch New Small Car Within Three Years

In the recent times, Maruti Suzuki Alto has been facing a tough competition from Renault Kwid. Alto's sales volume dropped by 7.4 percent in the first eight months of the ongoing financial year.

Maruti Suzuki Plans To Launch New Small Car Within Three Years

The Renault Kwid has eaten a chunk of market share from the Maruti Suzuki's entry-level segment. Alto's market share dropped by 42 percent between April and November of this fiscal year.

Maruti Suzuki Plans To Launch New Small Car Within Three Years

According to reports, Maruti Suzuki is working on a project internally codenamed as Y1K. The new small car is likely to be launched during the festive season of 2019. The next-gen Alto will be built on a fresh platform to meet new regulations.

Maruti Suzuki Plans To Launch New Small Car Within Three Years

Maruti Suzuki will also invest Rs 2,000 crore at its state of the art research and development centre in Rohtak, Haryana, over the next three years to strengthen its R&D capabilities.

Maruti Suzuki Plans To Launch New Small Car Within Three Years

Maruti Suzuki Chairman RC Bhargava stated that the trend is reversing in the passenger vehicle market in India. The firm's booking have improved by 7 percent in December. Due to demonetisation, Maruti Suzuki's bookings had dropped by 20 percent in November.

Maruti Suzuki Plans To Launch New Small Car Within Three Years

Bhargava said, "What I understand is that cash availability has improved. Besides, good monsoons helped grow rural sales in the first few months of the fiscal."

Maruti Suzuki Plans To Launch New Small Car Within Three Years

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Read more on: #maruti suzuki #auto news
Article Published On: Saturday, December 24, 2016, 10:15 [IST]
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