'We're getting into khasam khas segment': Maruti Suzuki director on entering Rs 20 lakh price range with Invicto

Maruti Suzuki India, the country's largest carmaker, has announced its plans to enter the Rs 20 lakh plus segment with its new multi-purpose vehicle (MPV) called Invicto. The company aims to capture a new set of consumers and establish its presence in the premium market segment. The MPV is set to be launched on July 5, with bookings opening on June 19.

Shashank Srivastava, Executive Director at Maruti Suzuki, shared some insights about the new vehicle during an interaction with Business Today. Srivastava explained that Invicto, a cross-badged version of the Toyota Innova Hycross, derives its name from the Latin word "Invicta," meaning unbeatable or invincible.

Srivastava revealed that it would be a premium product equipped with hybrid technology. This marks Maruti Suzuki's first foray into the Rs 20 lakh plus segment. The company is confident that if they execute well, they can become a leader in this new segment and cater to different customers.

Srivastava said, "This is a very 'Khasam Khas' car. From 'aam aadmi' to 'khaas admi' customers have accepted us and now 'khasam khas' is what we are going to get into." 

So, hopefully that Khasam Khas cars category will also accept us. 

Maruti Suzuki has already demonstrated its strength in the sub-10 lakh and 10-15 lakh price segments, commanding a significant market share. In the sub-10 lakh category, the company holds a dominant 60 per cent market share. Moving up to the 10-15 lakh category, Maruti Suzuki has emerged as the market leader with around 25 per cent market share.

Also read: Maruti Suzuki Jimny launched in India at Rs 12.74 lakh; check variants, other details

Srivastava emphasized that the move into the Rs 20 lakh plus segment is not solely driven by volume but also by the opportunity to attract new customers and offer them an option to upgrade. Maruti Suzuki aims to expand its customer base and positively impact its brand and other models in its portfolio.

Regarding manufacturing, Srivastava clarified that the Invicto would be produced in the Toyota unit in Bidadi, as part of the partnership between Maruti Suzuki and Toyota in India.

While Maruti Suzuki's previous offerings were known for their affordability, the company now seeks to tap into the "Khasam Khas" segment, catering to a more exclusive set of customers. The new MPV will be launched through Maruti Suzuki's premium dealership network, Nexa. Srivastava emphasized that although the product falls in a higher price range, it should be viewed as 'affordable luxury' rather than just luxury.

Also read: Innova Hycross rival Maruti Invicto bookings to start on June 19