The full-size MPV which will be retailed from MSIL’s premium Nexa outlets aims to empower the carmaker to tap into the potential of over Rs-20-lakh vehicle category in India.
05 Jul 2023 | 16448 Views | By Mayank Dhingra
Maruti Suzuki India (MSIL) has launched its flagship model - Invicto - with prices ranging from Rs 24.79 lakh to Rs 28.42 lakh, ex-showroom.
The full-size MPV, which will be retailed from MSIL's premium Nexa channel, aims to empower the company to tap into the potential of the over ...
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Maruti Suzuki India (MSIL) has launched its flagship model - Invicto - with prices ranging from Rs 24.79 lakh to Rs 28.42 lakh, ex-showroom.
The full-size MPV, which will be retailed from MSIL's premium Nexa channel, aims to empower the company to tap into the potential of the over Rs 20 lakh price segment, a category that it claims has registered strong growth over the last eight years, with the growing affluence of the Indian car buyer.
The Invicto is the eighth product in the company's Nexa portfolio and also marks eight years of the retail channel, which has clocked two million in volumes since it was commissioned in July 2015.
The Invicto, which will be offered in 7- and 8-seat configurations, is part of the Toyota-Suzuki global alliance. The MPV is based on the Toyota Innova HyCross, launched in December 2022, and will arm MSIL to grab the number one spot in the overall SUV segment in FY24.
According to Hisashi Takeuchi, Managing Director, MSIL, "The Invicto is our third new product within the first four months of FY24. It clearly reflects MSIL's confidence in customers and India's automobile market. While earlier this year, we had shared our aspiration of becoming the number one player in the SUV segment in FY24, we have already achieved the second spot."
According to the MSIL MD, led by the Grand Vitara, Fronx, and Jimny, the company's UV sales have received a new charge. While its UV market share was pegged at 8.5 percent in Q1 FY23, it has more than doubled to grow to 20 percent in Q1 FY24. "It is only a matter of time before we clinch the number one spot," Takeuchi said confidently.
MSIL, which closed FY23 with an MPV market share of 49.7 percent is confident about the Invicto augmenting its share, as the company is hopeful of better chip supplies in the Q2 of FY24 to offer quicker deliveries of its MPV line-up - Ertiga, XL6, and now Invicto.
Targeting affluent buyers
Maruti Suzuki, which dominates India's small-car market says there is a perceptible shift in consumer preferences over the last decade. "There has been a significant rise in the affluence of the customers, wherein the share of customers buying cars more than Rs 10 lakh has tripled from being pegged at 13 percent in FY16 to 40 percent in FY23," said Shashank Srivastava, Senior Executive Officer, Marketing and Sales, MSIL.
The company says that while the UV market too has more than doubled, growing from 22 percent in FY16 to 52 percent in FY23, it eyes a huge opportunity with the Invicto.
"We see an opportunity in the Rs-20-lakh price segment by exceeding the expectations of discerning customers. These consumers are lifestyle seekers who value experiences," Srivastava added.
Moreover, the company is confident that the Invicto which will sit in its portfolio as the flagship model within the Nexa range, will also enhance MSIL's brand image, which is largely perceived as a small-car specialist.
Strong-hybrid tech on offer
The Invicto, which is based on the Toyota Innova HyCross, is a monocoque MPV that will come powered by a strong-hybrid powertrain. The 2.0-litre, Atkinson cycle petrol engine is coupled with an electric drivetrain, and an e-CVT, making it an efficient full-size MPV with a certified fuel efficiency of 23.24kpl.
In terms of visual appeal, the Invicto gets marginal differences over the Toyota Innova HyCross at its front and on the inside. While it gets a newly-designed grille and 17-inch alloy wheels, the MPV gets Champagne gold accents on the instrument panel combined with an all-black interior.
It offers 690 litres of boot space along with creature comforts like a panoramic sunroof, 360-degree camera, 10.1-inch touchscreen and a 7-inch TFT instrument display.
Maruti Suzuki has received 6,200 bookings of the Invicto since the commencement of bookings on June 19, and with the easing of supply chains, aims to deliver the cars to customers at the earliest. The Invicto will be manufactured at Toyota Kirloskar's plant in Bidadi, Karnataka.