Maruti Suzuki India Ltd. Friday introduced the Ritz - its seventh small-car model - as part of efforts to retain its leadership amid intensifying competition from auto makers such as Hyundai Motor Co. and Honda Motor Co.
The car’s base model will cost 390,000 rupees ($7863) at showrooms in New Delhi, while the top-end model has been priced at 499,000 rupees, Shinzo Nakanishi, managing director of Suzuki Motor Corp.‘s India unit, said.
The prices are introductory, which means they are likely to be increased at a later date.
The Ritz comes with a newly developed 1.2-liter “K-Series” gasoline engine or a 1.3-liter diesel engine.
As much as 95% of the components for the car will be sourced locally, Mr. Nakanishi said, adding that the vehicle will have three gasoline and two diesel versions.
“We are consciously expanding our portfolio in the competitive compact-car market,” Mr. Nakanishi said. “India is a diverse car market where no two customers think the same. Therefore, we want to give a variety of options.” Wall Street Journal
“Ritz is our parent Suzuki’s fifth global model and it will be the first Bharat Stage-IV emission norms compliant Indian car. We have launched it at the beginning of the fiscal and we hope it will bring excitement in the market,” Maruti Suzuki India Managing Director and CEO Shinzo Nakanishi said.
About the sales of the car, he said that the company has not fixed any target as “it is tough to project for future. We have capacity to meet all requirements.” Times of India
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