Maruti Suzuki will sell its latest flagship Invicto at a starting price of Rs 24.79 lakh. The range-topping variant has been priced at Rs 28.42 lakh. The Invicto is a Toyota-sourced rebadged version of Innvoa Hyrcross. Invicto has become Maruti's costliest offering in its product portfolio, the vehicle will be sold via Maruti Suzuki's Nexa showrooms.
Known for its budget-oriented vehicles, the arrival of Invicto marks Maruti's entry into the premium multi-purpose vehicle space. Having made a series of new launches like the face-lift of Brezza, Baleno-based crossover Fronx, and Jimny in a short span of time, Maruti Suzuki Invicto is the company's latest addition to its product portfolio.
Maruti Suzuki Invicto
While Maruti Suzuki already has the best-selling MPV in the Indian car market, the Ertiga, Invicto's introduction will give Maruti's product line-up a premium touch. Toyota Innova, the vehicle on which the Invicto is based, commands unquestionable dominance in the premium MPV space and is known for its comfortable ride quality and reliability.
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.
Maruti Suzuki Invicto
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 the dynamism of an SUV, PTI reported.
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.
Maruti Suzuki Invicto
As per Suzuki's growth strategy towards 2030, it targets to achieve a global turnover of Rs 4.32 trillion in FY31, Takeuchi said.
This is exactly double the turnover of Rs 2.16 trillion achieved in FY22 and for this, Suzuki has planned an investment of around Rs 2.8 trillion 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 250,000 units by 2025," Takeuchi said.
Once fully operational, the facility will have an annual capacity to manufacture one million vehicles and will be one of the world's largest single-location manufacturing sites, he added.
Suzuki also has a well-defined road map on carbon neutrality for India, Takeuchi said.
"We are committed to bringing six EVs by FY 31 across different segments. Besides, in our journey of vehicle decarbonization, we will continue to deploy multiple powertrain technologies like CNG and Hybrid in our products and introduce biofuels like Ethanol Flex Fuel and Biogas," he added.
Elaborating further, MSI Senior Executive Officer (Marketing and Sales) Shashank Srivastava said the company attained leadership in the Rs 15-20 lakh vehicle segment last fiscal.
He noted that the sale of cars above the Rs 10 lakh price tag has more than tripled from 2015-16 till the last fiscal.
"This has emboldened us and we see an opportunity in the over Rs 20 lakh category as well with the introduction of the Invicto," Srivastava said. MSI has received over 6,000 bookings for the model so far, he added.
The Invicto comes powered by a 2-litre petrol engine mated with strong hybrid technology and delivers a mileage of 23.24 km per litre. It comes with a seating configuration of seven and eight seats.
(With agency inputs)