Maruti Suzuki India enters MPV segment with Ertiga
The country's leading carmaker Maruti Suzuki India on Thursday
unveiled its compact multipurpose vehicle (MPV) Ertiga priced between Rs.5.89 lakh and Rs.8.45 lakh (exshowroom Delhi) creating a new price standard in the MPV segment.
Ertiga will be available in both petrol and diesel variants. The petrol variant is priced between Rs.5.89 lakh and Rs.7.30 lakh while the diesel option will cost between Rs.7.30 lakh and Rs.8.45 lakh (ex-showroom Delhi).
The company said that the new vehicle, with an attractive pricing, will help the company in tapping the MPV segment, which is a fastgrowing segment in the country. "Ertiga holds significance for Maruti Suzuki India and for Suzuki Motor Corporation in the global markets," said S. Nakanishi, managing director (MD) and chief executive officer (CEO), Maruti Suzuki India, at the Auto Expo held in January in New Delhi.
"Utility vehicles is a promising segment, and so far, we have been largely absent from here. The segment has demonstrated a compounded annual growth rate (CAGR) of 20 per cent over the past three years. We strongly believe that this trend will continue in future," Nakanishi told reporters here.
The company has aggressively priced Ertiga in an attempt to regain its market share. The strike at Manesar plant and a slew of launches had eroded the market share of the company below 40 per cent in the fiscal 2011-12 to just 38.44 per cent at 26.18 lakh units. Maruti Suzuki India passenger vehicle sales in the last fiscal stood at 10.06 lakh units.
In the last year, Maruti Suzuki India had a market share of 45.28 per cent at 25.02 lakh units in the passenger vehicle segment.
The company said that it will continue to focus on the compact car segment in India, which will help in expanding its overall share.
During 2010-11, Maruti had a share of 45.28 per cent in the passenger vehicle market that stood at 25.02 lakh units.
Ertiga will be available in both petrol and diesel variants. The petrol variant is priced between Rs.5.89 lakh and Rs.7.30 lakh while the diesel option will cost between Rs.7.30 lakh and Rs.8.45 lakh (ex-showroom Delhi).
The company said that the new vehicle, with an attractive pricing, will help the company in tapping the MPV segment, which is a fastgrowing segment in the country. "Ertiga holds significance for Maruti Suzuki India and for Suzuki Motor Corporation in the global markets," said S. Nakanishi, managing director (MD) and chief executive officer (CEO), Maruti Suzuki India, at the Auto Expo held in January in New Delhi.
"Utility vehicles is a promising segment, and so far, we have been largely absent from here. The segment has demonstrated a compounded annual growth rate (CAGR) of 20 per cent over the past three years. We strongly believe that this trend will continue in future," Nakanishi told reporters here.
The company has aggressively priced Ertiga in an attempt to regain its market share. The strike at Manesar plant and a slew of launches had eroded the market share of the company below 40 per cent in the fiscal 2011-12 to just 38.44 per cent at 26.18 lakh units. Maruti Suzuki India passenger vehicle sales in the last fiscal stood at 10.06 lakh units.
In the last year, Maruti Suzuki India had a market share of 45.28 per cent at 25.02 lakh units in the passenger vehicle segment.
The company said that it will continue to focus on the compact car segment in India, which will help in expanding its overall share.
During 2010-11, Maruti had a share of 45.28 per cent in the passenger vehicle market that stood at 25.02 lakh units.
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