Maruti Suzuki Aims to Re-energize Small Car Segment with New Swift
Maruti Suzuki India, the country's leading carmaker, is betting big on the entry-level segment and plans to "re-energise" the small car segment. The company expects this segment to revive over the next few years, according to MD & CEO Hisashi Takeuchi.
Speaking at the launch of the new generation Swift, Takeuchi noted that the automaker aims to cater to the diverse needs of customers as it aims to sell 4 million units by 2030-31. He emphasized the importance of the entry-level segment, which continues to be a high-volume vertical accounting for around 28 per cent of the overall domestic passenger vehicle sales.
Takeuchi highlighted that the premium hatchback segment contributes nearly 60 per cent of total hatchback sales. "As a market leader, we took the responsibility to re-energise the hatchback segment at a time when this segment really needs a catalyst for growth," he said.
The company has a strong belief in India's growth story and expects increased economic activity and robust demand for automobiles in the coming years. With only 32 vehicles per 1,000 people compared to over 600 in developed countries like Japan, India presents a vast pool of car aspirants.
Takeuchi believes that the hatchback segment will serve as an entry point for many customers and will continue to remain relevant for India. The auto major expects the premium hatchback segment to grow to 1 million units per annum by 2030 from 7 lakh units currently.
The new Swift is priced between Rs 6.49 lakh and Rs 9.64 lakh (ex-showroom Delhi). The automaker has invested around Rs 1,450 crore towards the development of the premium hatchback, including investment in tools and dyes for the vehicle as well as the new and more environment-friendly Z-Series engine. The model would be manufactured at Suzuki Motor Gujarat, from where it will serve customers in India as well as in overseas markets.