The Indian automobile market is witnessing intense competition with different car launches happening every month, even as some new car manufacturer sets his eyes on the Indian market. Leading car manufacturer in India, Maruti Suzuki will be launching a revamped model of its top-selling Wagon R to take on the yet to be launched, Hyundai Grand i10.
If sources are to be believed, then the new model launched by Maruti Suzuki along with the Wagon R Stingray will be the key sales drivers for Maruti Suzuki India (MSI). As the competition in the Indian automobile sector heats up every passing the day, Maruti Suzuki is also feeling the pressure and wants to retain its market share by launching a fresh line of products.
A source from Maruti Suzuki India has confirmed that the brand new model to be launched will be cleverly positioned between the Swift and the Wagon R. The source further stated that the new model will be unveiled at the Auto Expo scheduled for the coming year. MSI spokesperson refused to further comment on the product-line up for the future. The Indian Auto Expo is scheduled for February 6 to 12 in the year 2014. Unlike previous years where it was held at Pragati Maidan, the Auto Expo in the coming year will be held at Greater Noida.
The Indian arm of the Korean car manufacturer, Hyundai Motor India has plans ready to take on the highly successful Swift from MSI with the launch of the Grand i10. It is expected that the Grand i10 will be launched in September with both petrol and diesel options. On the other hand, MSI is all set to launch a brand new model which will priced below the Swift. With this launch, MSI will be countering Hyundai’s Grand i10.
The current price of the Wagon R is between Rs. 3.57 lakhs and Rs. 4.48 lakhs (ex-showroom Delhi price). The Swift is sold at a price range of Rs. 4.48 lakhs and Rs. 6.87 lakhs. (Ex-showroom Delhi). Along with the launch of a new model, MSI is all preparing to launch the revamped Wagon R Stingray. MSI intelligently planned the launch time of Wagon R Stingray before the festive period even as it is looking to strengthen its market position with a slew of competitors eating into its market share.
The April-June phase of the 2013 fiscal year had about 6, 07,469 car units sold. In this fiercely competitive Indian passenger car market, Maruti Suzuki India retained a 40.38% market share and has sold 2, 45,346 units. Several factors have contributed to dwindling sales in the Indian automobile market and car makers are making every effort to reverse this downturn.
Car sales in the Indian market had continued to decline for the eighth consecutive month till June. Industry watchers have expressed shock over the declining sales for a record period. During this fiscal year’s first quarter, there was a dip of 7.24% is the sales of passenger cars which amounted to a decline of about 6, 54,858 units compared to last fiscal year’s first quarter.