Maruti Suzuki launches MPV Invicto starting at Rs 24.8 lakh

New Delhi Maruti Suzuki India (MSI) on Wednesday launched the new Invicto at introductory prices ranging from Rs 24.8-Rs 28.4 lakh as it looks to gain foothold in the premium three-row multi purpose vehicle segment.

The company has launched Invicto in three variants and expects the model to further strengthen its presence in the overall MPV segment where it commands around 50 per cent market share already. The country's largest carmaker will source the strong hybrid model from Toyota Kirloskar Motor (TKM) as part of a global collaboration between Toyota and Suzuki. TKM already sells Innova HyCross in the domestic market and the same would be supplied to MSI with certain changes in design and other elements.

Speaking at the launch event, MSI MD and CEO Hisashi Takeuchi said the model has been carefully crafted to match the modern taste of NEXA customers, who want a premium three-row vehicle with dynamism of an SUV. He noted that Grand Vitara, Fronx and Jimny have substantially enhanced the automaker's market share in the SUV segment. The company's share in the SUV segment, which stood at 8.5 per cent in Q1 FY23 has risen to close to 20 per cent in Q1 FY24, Takeuchi stated.

"While we are at the second position in the industry now, it is only a matter of time before we take the number one position in the SUV segment," he noted. He said, looking at the immense potential of the Indian automobile market, its parent Suzuki Motor Corporation has outlined a robust growth plan. As per Suzuki's growth strategy towards 2030, it targets to achieve a global turnover of Rs 4.32 lakh crore in FY31, Takeuchi said.

This is exactly double the turnover of Rs 2.16 lakh crore achieved in FY22 and for this, Suzuki has planned an investment of around Rs 2.8 lakh crore by FY 31 towards enriching products, bringing new technologies and setting up new facilities, he added.

"India of course will play a very big role in this goal," Takeuchi said adding MSI's turnover would also double by 2030-31. He noted that in line with anticipated market growth in 2030, the company is also expanding its manufacturing capacities. "... construction at our new manufacturing facility in Kharkhoda is in full swing and we plan to commission the first plant with an annual manufacturing capacity of 2.5 lakh units by 2025," Takeuchi said.