Maruti Suzuki launches multi purpose vehicle Invicto, starts at Rs 24 lakh

Maruti Suzuki India (MSI) on Wednesday launched the new Invicto with introductory prices ranging from Rs 24.8 lakh to 28.4 lakh as it looks to establish a foothold in the premium three-row MPV segment.

The company launched the Invicto in three variants and expects the model to strengthen its presence in the overall MPV segment where it already commands around 50 percent market share.

The country’s largest automaker will release the powerful hybrid model from Toyota Kirloskar Motor (TKM) as part of the global collaboration between Toyota and Suzuki.

TKM already sells the Innova HyCross in the domestic market and the same will be provided to MSI with some design changes and other elements.

Speaking at the launch event, MSI CEO Hisashi Takeuchi said the model has been carefully designed to suit the modern taste of NEXA customers, who want a luxury three-row vehicle with the dynamism of an SUV.

He noted that the Grand Vitara, Fronx and Jimny have significantly strengthened the automaker’s market share in the SUV segment.

Takeuchi stated that the company’s share in the SUV segment, which reached 8.5 percent in the first quarter of FY23, rose to nearly 20 percent in the first quarter of FY24.

“While we’re second in the industry now, it’s only a matter of time before we take the top spot in the SUV segment,” he said.

He said, given the huge potential of the Indian auto market, parent company Suzuki Motor Corporation has outlined an aggressive growth plan.

Under Suzuki’s growth strategy to 2030, it aims to achieve a global turnover of Rs. 4.32 lakh crore in FY31, Takeuchi said.

This is exactly double the Rs 2.16 crore turnover achieved in FY22 and for this, Suzuki has planned to invest around Rs 2.8 crore by FY31 in order to enrich products, bring in new technologies and set up new facilities, he added.

“India will of course play a very big role in this goal,” Takeuchi said, adding that MSI’s turnover will also double by 2030-31.

He noted that in line with the expected growth of the market in 2030, the company is also expanding its manufacturing capabilities.

“…the construction work on our new manufacturing facility in Kharkoda is in full swing, and we plan to start operating the first plant with an annual production capacity of 2.5 thousand units by 2025,” Takeuchi said.

He added that once the facility is fully operational, it will have an annual capacity to manufacture 10 lakh cars and will be one of the largest single-site manufacturing facilities in the world.

Takeuchi said Suzuki also has a well-defined roadmap on carbon neutrality in India.

“We are committed to bringing in six electric vehicles by FY31 across different segments. Besides, in our journey to decarbonize vehicles, we will continue to deploy multiple powertrain technologies such as CNG and Hybrid into our products and introduce biofuels such as Ethanol Flex Fuel and Biogas,” he added. .

Shashank Srivastava, Senior Executive Officer, MSI (Marketing & Sales), explained that the company has achieved leadership in the Rs 15-20 lakh vehicle segment in the last financial year.

He noted that the sale of cars priced above Rs 10 lakh had more than tripled from 2015-16 till the end of the financial year.

“We are encouraged by this and see an opportunity in the over Rs 20 lakh category as well as introducing Invicto,” said Srivastava. He added that MSI has received more than 6,000 reservations for the model so far.

The Invicto comes powered by a 2L petrol engine paired with powerful hybrid technology and has a range of 23.24km per liter.

It comes with a seven- and eight-seater seating configuration.

MSI aspires to become the leading SUV company in this fiscal year with a market share of around 25 percent.

It has recently launched two models, Fronx and Jimny, to enhance its product range.