Financial Daily from THE HINDU group of publications
Thursday, Mar 06, 2003
Financial Daily from THE HINDU group of publications Thursday, Mar 06, 2003 |
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Corporate
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Announcements Maruti to launch Grand Vitara in 2 months Our Bureau
BANGALORE, March 5 MARUTI Udyog Ltd (MUL) will launch its much awaited sports utility vehicle (SUV) Grand Vitara from Suzuki Motor Corporationin the next two months, said a company spokesperson. MUL's Vitara will be vying for space on the Indian roads with Mitsubishi Pajero and Chevrolet Forester. Mitsubishi Pajero hit the Indian roads last year with a price tag of Rs 35 lakh. This was followed by General Motors' Cheverolet Forester priced at Rs 15.59 lakh (ex showroom, Delhi). The new SUV from MUL will be the upgraded version of Grand Vitara, already, popular in the US and Europe. The model, to be called Grand Vitara XL 7, will be imported in a completely built unit (CBU) and is expected to be priced at Rs 20 lakh, said the spokesperson. Vitara XL 7 will be the first offering from MUL after Suzuki took over management control. MUL will be targeting the big owners of business houses, plantation owners, sports people, film stars, builders, NRIs, embassies and top politicians for selling Vitara XL 7, a company spokesman said. Though Indian roads are getting familiar with the SUVs, the market for such vehicle is limited as compared to the US, Australia and Europe. However with the Budget proposal of reduced import and excise duty, major players are eying India to increase their market share.
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