Maruti Suzuki goes upmarket in India with new seven seater

Record ID: 1733191

  • Title: Maruti Suzuki goes upmarket in India with new seven seater
  • Date: 6th July 2023
  • Summary: GURUGRAM, HARYANA, INDIA (JULY 5, 2023) (REUTERS) MARUTI SUZUKI’S PREMIUM UTILITY VEHICLES ‘INVICTO’ ARRIVING ON STAGE (MUTE) ‘INVICTO’ MOVING ONTO ROTATING PLATFORM (MUTE) VARIOUS OF ‘INVICTO’ ON ROTATING PLATFORM (MUTE) ‘INVICTO’ ON STAGE (MUTE) MARUTI SUZUKI CEO, HISASHI TAKEUCHI, AND SENIOR EXECUTIVE OFFICER OF MARKETING AND SALES, SHASHANK SRIVASTAVA, WALKING ONTO STAGE (MUTE) TAKEUCHI AND SRIVASTAVA POSING WITH ‘INVICTO’ TAKEUCHI POSING WITH ‘INVICTO’ TAKEUCHI AND SRIVASTAVA POSING WITH ‘INVICTO (SOUNDBITE) (English) MARUTI SUZUKI CEO, HISASHI TAKEUCHI, SAYING: “Encouraged by the positive momentum, we are adding the eighth member to the Nexa product line-up – the ‘Invicto’. ‘Invicto’, that means undefeated' in Latin, is Maruti Suzuki’s first vehicle in the premium field of UV (utility vehicle) sector.” ‘INVICTO’ TRUNK OPENING UP (SOUNDBITE) (English) MARUTI SUZUKI SENIOR EXECUTIVE OFFICER OF MARKETING AND SALES, SHASHANK SRIVASTAVA, SAYING: “Now, it is well-known that Maruti Suzuki has been the undisputed leader of the sub-10 lakh rupees ($12,000) segment for decades. However, thanks to our strengthened portfolio, especially in the Nexa channel, we emerged as the leaders of the 10-20 lakh ($12,000-24,000) price bracket as well with a market share of over 22 percent in this financial year.” ‘INVICTO’ BEING SHOWCASED (SOUNDBITE) (English) MARUTI SUZUKI SENIOR EXECUTIVE OFFICER OF MARKETING AND SALES, SHASHANK SRIVASTAVA, SAYING: “And our analysis of the industry and in the rising demand in the premium segment emboldens our confidence in the rise of this segment and we now see an opportunity in the 20 lakh rupees ($24,000) plus price bracket segment as well.” PEOPLE SEATED INSIDE ‘INVICTO’ DURING SHOWCASE
  • Embargoed: 20th July 2023 03:30
  • Keywords: Electric vehicles Gurugram Hisashi Takeuchi India Invicto Invicto launch Launch Maruti Suzuki Multi-purpose-vehicle Shashank Srivastava
  • Location: GURUGRAM, HARYANA, INDIA
  • City: GURUGRAM, HARYANA, INDIA
  • Country: India
  • Topics: Asia / Pacific,Company News Markets,Economic Events
  • Reuters ID: LVA001487405072023RP1
  • Aspect Ratio: 16:9
  • Story Text:Maruti Suzuki, India's biggest automaker, is looking to break into the premium car segment with its new seven seater, as a growing number of buyers opt for bigger, feature-packed cars.
    Maruti, known for small and compact cars that are mostly priced below 1 million rupees ($12,000), on Wednesday (July 5) launched the 'Invicto' seven seater with a hybrid powertrain starting from around 2.5 million rupees ($30,000).
    The company aims to raise its brand image and enter a segment where it sees rapid growth as the purchasing power of Indian car buyers increases, chief executive Hisashi Takeuchi said at the launch.
    Maruti, majority owned by Japan's Suzuki Motor, made its name as a mass market car brand offering affordable prices and low maintenance costs. When it comes to premium cars, or those typically priced above 2 million rupees ($24,000), buyers in India tend to turn to the likes of Toyota Motor or Volkswagen, say analysts.
    (Production: Bushan Kumar, Sunil Kataria)
  • Copyright Holder: REUTERS
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