The Indian car market is getting ready for the festive season with major car makers planning to launch new vehicles. The country's leading passenger car manufacturer Maruti Suzuki is reportedly planning to launch a new model in the compact car segment, which will compete with the likes of upcoming Hyundai Grand i10. Rumours are rife that the new car will be slotted along the soon to be launched WagonR Stingray.
As according to Industry experts, this move of Maruti Suzuki seems to be made on the grounds to defend its market share that is currently challenged by its nearest rival Hyundai, which is planning to launch new models in India with an aggressive pricing. It is being said that both the upcoming vehicles will come up as auto makers' fresh new offerings for the Indian car market and will be crucial for it, in order to counter the increasing competition in the compact car segment.
The upcoming model of Maruti Suzuki is expected to be priced low in order to compete with Hyundai's upcoming Grand i10. As told by sources, the car is set to debut in India by the next year and the new WagonR Stingray shall be launched around the festive season this year. However, there is no official confirmation from the side of Maruti Suzuki as to when both the cars will be available in India. It is being said that the new model will be first showcased at the New Delhi Auto Expo, which is scheduled for next year.
Meanwhile, Hyundai recently announced its plans to launch a new compact Grand i10 car in September 2013. On this, sources further said that the Maruti Suzuki too seems to be eyeing on the same market share that its arch-rival is planning to undertake. By bringing in a new model between WagonR and Swift, Maruti Suzuki too seems to follow in the footsteps of Hyundai India, which is all set to place Grand i10 between current generation i10 and i20.
As of now the WagonR is offered at an ex-showroom price of Rs. 3.57 lakh till Rs. 4.48 lakh in Delhi, while the price of Swift ranges from Rs. 4.48 lakh to Rs. 6.87 lakh. Therefore, the company's new model may be priced somewhere around Rs. 4 lakh for its base variant.
Recently, car sales have been on the decline for the past eight months and with festive season approaching fast, it is expected that the car makers in India shall launch more vehicles in order to counter the decreasing demand. It must be noted that during the first quarter of current financial year, sales of passenger vehicles had registered a decline of 7.24 per cent, which has marred the growth of Indian car market. During the second quarter of current financial year, Maruti Suzuki India had a market share of over 40 per cent with company selling 2,45,346 units out of total 6,07,469 units sold inclusive of other brands.
