Maruti’s Latest Car Developed With Rs 1,450 Crore Investment
Maruti Suzuki India, the country’s largest carmaker, has allocated Rs 1,450 crore towards the development of the latest iteration of the Maruti Suzuki Swift, as confirmed by a senior company executive.
2024 Maruti Swift launched, priced from ₹6.49 lakhs (ex-showroom) pic.twitter.com/ywkJQi0Fmp
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The fourth-generation Swift was introduced by Maruti on May 9, priced between Rs 6.49 lakh and Rs 9.64 lakh (ex-showroom). This updated hatchback is powered by a new Z-Series 1.2-litre 3-cylinder petrol engine, generating 82PS of maximum power and 112Nm of peak torque. It offers the option of either a 5-speed manual transmission or a 5-speed automated manual transmission (AMT).
Maruti’s Significant Investment
Maruti Suzuki Swift’s MD and CEO Hisashi Takeuchi said: “… we have invested approximately Rs 1,450 crore towards this new generation Swift. This includes investment in tools and dyes for the vehicle as well as the new and more environment-friendly Z-Series engine.”
“India continues to be an important market for Suzuki. Our long-term goal is to produce and sell a total of 4 million units annually, including exports. For us to maintain our leadership position, it is important to cater to diverse customer segments,” Takeuchi added.
Production of the new Swift will take place at Maruti’s Suzuki Motor Gujarat plant, catering to both the domestic market and international exports.
On a global scale, Suzuki has achieved sales of nearly 6.5 million units of the Swift across 169 countries. Within India, the Swift holds the largest market share, contributing to over 46% of sales with nearly 3 million units sold. Europe stands as the second-largest market with 1.2 million units, followed by Japan with 0.7 million units.
India saw the introduction of the first-generation Swift in 2005, followed by the second generation in 2011, and the third generation in 2018.
Maruti maintains its position as a leader not only in the premium hatchback segment with models like the Swift and Baleno but also in the overall hatchback segment with offerings such as the Alto K10, S-Presso, Celerio, WagonR, and Ignis.