A model poses next to a Maruti Suzuki Kizashi at its India launch in New Delhi, India, Wednesday, Feb. 2, 2011. The 2.4 liter petrol engine sedan will be available in two variants priced at 1,650,000 and 1,750,000 rupees (US$36,666 and US$38,888). (AP Photo/Gurinder Osan)
New Delhi, February 2 (Reuters) - India’s top car maker Maruti Suzuki on Wednesday geared up to cater to rising demand for luxury cars in the fast growing Indian market with the launch of Suzuki’s premium sedan Kizashi. Maruti, which sells roughly half the cars sold in the Indian market, does not expect Kizashi to substantially boost its performance in the near term.
“We are anticipating that this market will grow; there will be demand for such cars,” Managing Executive Officer Mayank Pareek told reporters. The luxury sedan segment has a mere 2.8% of the total auto market in India, one of the world’s fastest growing, but a burgeoning middle class is seen spurring demand for premium cars. A base model of Kizashi, priced at 1.65 million rupees ($36,340) in New Delhi, will compete with the likes of Toyota’s Corolla, Volkswagen AG’s Jetta, General Motors’s Chevrolet Optra and Honda Motor Co’s Civic. With demand for cars in developed markets stuck in low gear, global automakers have been increasing their focus on faster-growing regions such as China and India.
“We are anticipating that this market will grow; there will be demand for such cars,” Managing Executive Officer Mayank Pareek told reporters. The luxury sedan segment has a mere 2.8% of the total auto market in India, one of the world’s fastest growing, but a burgeoning middle class is seen spurring demand for premium cars. A base model of Kizashi, priced at 1.65 million rupees ($36,340) in New Delhi, will compete with the likes of Toyota’s Corolla, Volkswagen AG’s Jetta, General Motors’s Chevrolet Optra and Honda Motor Co’s Civic. With demand for cars in developed markets stuck in low gear, global automakers have been increasing their focus on faster-growing regions such as China and India.
