The country's largest carmaker, Maruti Suzuki India, today launched a new generation WagonR, priced between Rs 3.28 lakh and Rs 3.81 lakh, adding one more model to the highly price competitive compact car segment.
The new WagonR will take on the likes of newly launched models, including the Chevrolet Beat (priced Rs 3.41 lakh-Rs 4.43 lakh) and Ford Figo (Rs 3.49 lakh-Rs 3.99 lakh), and Hyundai i10 (Rs 3.47 lakh-Rs 3.83 lakh), among others.
MSI said the new car showcases the advancement it has made in research and development and the ability to adapt from global platforms to Indian conditions.
"This new launch of WagonR is important to Maruti Suzuki for many reasons. It demonstrates the growing research and development capability of the company," Maruti Suzuki India Managing Director and Chief Executive Officer Shinzo Nakanishi told reporters here.
The new WagonR is developed from the latest platform of the vehicle that is available in Japan. The car is powered by the BS-IV compliant 998cc K-series engine.
MSI had invested Rs 290 crore to bring out the new generation WagonR.
Following the new launch, the existing WagonR, which was launched in 1999 and sold a total of 8.8 lakh units, will be phased out.
MSI is confident that it will be able to maintain the status of the WagonR as the second best-selling model in India after its Alto, despite increased competition from rivals like Ford, General Motors and Hyundai.
"WagonR was the second best-selling car last year. It averaged about 10,000 to 12,000 units a month and I am confident that we should be able to maintain that sales," MSI Executive Officer (Marketing and Sales) Mayank Pareek said.
He said the new WagonR, with its pricing and features, will be able to ward of competition in the compact car segment, where there are nearly 20 models in all.
The new WagonR will, however, be more expensive than the old WagonR, which was priced between Rs 3.23 lakh and Rs 3.7 lakh, though the new version will be longer and taller than the old one.