Offering more choices to the customers in the compact car segment ahead of festive season, Maruti Suzuki India (MSI) on Wednesday launched ‘Stingray’.
“The launch of ‘Stingray’ is in line with our strategy to provide new and refurbished models to our customers to create excitement in the market place. Indian auto industry has been going through a slowdown, but despite this customers continue to buy Maruti cars,” said MSI Managing Director and CEO Kenichi Ayukawa.
“The company will have nine models in its compact car portfolio with ‘Stingray’ and WagonR would continue to be in the market,” added Ayukawa.
When asked about sales for the upcoming festive season, MSI Chief Operating Officer (Marketing & Sales) Mayank Pareek said: “We are hoping sales will pick up in the festive season but we are not expecting very strong sales during the period considering the current macro-economic conditions. It won’t be as euphoric as last year.”
Car sales fell for a record ninth month in a row in July, down 7.4 per cent. But, MSI posted a 10.88 per cent increase in domestic passenger car sales at 63,O40 units in July. Talking impact of falling rupee, Pareek said the rupee depreciation has put pressure on margins but ruled out passing the burden to customers.
Stingray, powered by a 998 cc petrol engine is priced between Rs 4.1 lakh and Rs 4.67 lakh (ex-showroom Delhi). The product is available in three variants and the company will also roll out a CNG model soon.