Maruti Suzuki India, the country's largest car maker, on Monday launched mid-sized sedan Ciaz with an introductory price starting at Rs 6.99 lakh (ex-showroom Delhi).
The petrol variants of the sedan are priced between Rs 6.99 lakh and Rs 9.34 lakh while the diesel variants are priced between Rs 8.04 lakh and Rs 9.8 lakh, respectively (ex-showroom Delhi).
"Millions of Indians have enjoyed Maruti cars for years. These customers are looking to upgrade to mid-sized sedans. Ciaz is for them, " MSI Managing Director and CEO Kenichi Ayukawa told reporters at the launch event in Gurgaon.
He added that the company has been able to achieve localisation content of 98 per cent for the car.
"Ciaz has been designed keeping in mind the needs and expectations of Indian sedan customers," Ayukawa said.
Ciaz comes in petrol and diesel options, powered by 1.4 litre and 1.3 litre engines, respectively.
The car major, along with its vendors, has invested Rs 620 crore on development of Ciaz. The mid-sized sedan has been developed on a completely new platform.
In addition to sale in the domestic auto market, the company also plans to export the car to markets in the Middle East, Latin America and Africa.
In the country, Ciaz would compete with Honda City, priced between Rs 7.19 lakh and Rs 11.05 lakh and Hyundai Verna tagged between Rs 7.39 lakh and Rs 11.72 lakh, respectively (ex showroom Delhi).
Since Maruti opened bookings for the car in September, the company has received orders for 10,000 units.
Ciaz will replace the SX4 sedan, which had a limited success.
At its peak, SX4 sold about 3,000 units a month, while the current segment leader Honda City sells about 5,000 units a month.
Overall, the mid-sized sedan segment witnesses sales of around 16,000 units per month.