Maruti rolls out its costliest product Invicto at ₹24.79L
NEW DELHI : Maruti Suzuki, India’s leading automaker, is diversifying its premium lineup with the launch of the Invicto, a seven-seater hybrid multi-purpose vehicle based on the Toyota Innova HyCross. Priced at ₹24.79 lakh ex-showroom, it is Maruti Suzuki’s most expensive offering in the market to date. The Invicto will be manufactured at Toyota Kirloskar Motor’s facility in Bidadi, Karnataka, where it also produces all variants of the Innova MPV.
The MPV has been allocated 30% additional capacity to be able meet significant demand with year-long waiting period. “We can already say there will be substantial waiting period for this product," Shashank Srivastava, senior executive director, Maruti Suzuki, said. The company is following a similar strategy along the lines of the Jimny, opting to exclusively offer only top-end variant of the Invicto.
Invicto is being offered at a 1-3% discount to similar variants of the Innova HyCross. With over 20% share of the sport utility vehicle market, Maruti is the second-largest SUV maker in India, lagging Mahindra & Mahindra. It has committed to achieve 25% share of India’s SUV market by the FY24-end.
“I am happy to share that with your support and ringing success of some of our recent offerings like Grand Vitara, Fronx and Jimny we have substantially enhanced our share in the SUV segment. Let me explain through numbers: our share in the SUV segment, which stood at 8.5% in Q1 FY23 has risen to close to 20% in Q1 of FY24. While we are at second position in the industry now, it is only a matter of time before we take the number one spot in the SUV segment.We had mentioned that we will grow faster than the industry in FY24.
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