Maruti Suzuki set to unveil nation's most expensive vehicle

15 Jun 2023 , 09:33 AM

Invicto, a car from Maruti Suzuki that would cost above Rs 20 lakh, will soon be available for purchase in India. Three-row, seven-seater Invicto is regarded as Toyota’s Hycross’ twin.

According to a story in TOI citing Shashank Srivastava, Director (Sales & Marketing), the company is seeking to secure a fair portion of the market with the car that will be offered in both gasoline and hybrid configurations.

With the new model, the largest automaker in the nation hopes to establish itself in the segment of vehicles costing more than Rs 20 lakhs after previous fiscal year’s success in the segment of vehicles costing between Rs 15 and 20 lakhs.

According to him, the three-row SUV/MPV market produced over 2.58 lakh units in the most recent fiscal year, of which 1.2-1.25 lakh were vehicles costing more than Rs 20 lakh.

‘We believe there is a market for luxury three-row MPVs and SUVs. In an interview with PTI on Tuesday, Srivastava said that there are clients who are searching for a high-end three-row vehicle that is either an MPV or an SUV or has elements of both.

On June 19, MSI expects to start taking reservations for the Invicto, which will be marketed through its Nexa retail channel, according to Srivastava.

Maruti will introduce the Invicto on July 5. The vehicle will be made at the Toyota plant in Bidadi, Ramanagara District, which is located outside of Bengaluru. It’ll be offered for sale in Nexa retail showrooms.

With a market share of over 30%, we have taken the top spot in the Rs 10-15 lakh category. Now that this vertical is gaining popularity among customers, we are entering the three-row category over Rs 20 lakh,’ Srivastava said.

He continued, ‘The product will also have a positive spillover effect on the company’s overall brand image.’

‘We hope that we are able to get a substantial market share in the over Rs 20 lakh segment as well. Similar to the Rs 10-15 lakh category where we quickly became market leaders,’ Srivastava added.

This fiscal year, MSI hopes to surpass all other SUV players, with a market share of roughly 25%. Two new models, the Fronx and Jimny, have just been released to expand its product line.

Suzuki and Toyota have entered into a contract that enables them to collaborate on the creation of new technologies for the Indian market while also sharing their existing platforms and products.

Toyota has been having problems as a result of supply chain disruptions. The quantity of vehicles that Toyota will be able to produce and be able to provide to Maruti is uncertain as a result of supply chain limitations.

Toyota was obliged to temporarily stop selling its top-end variations due to the shortfall since waiting lists may go up to two years. The shortfall has also prevented Invicto’s Toyota Hycross from expanding.

Two Indian automakers will use this new launch as a weapon against South Korean and domestic automobiles in the nation. Tata Motors, Mahindra, the Hyundai and Kia duo, and other automakers are seen as competitors by the industry.

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