Maruti Suzuki India Ltd.

Maruti Suzuki India (MSI), the country's largest car-maker launched the new version of its 'Swift'. The company introduced the new version at an aggressive introductory price of Rs 4.22 lakh to Rs 5.53 lakh, as it looks to defend its leadership position in the highly-competitive premium compact car segment. The diesel variant is priced between Rs 5.17 lakh and Rs 6.38 lakh. The petrol variant is powered by a 1.2-litre K series engine, while the diesel version has a 1.3-litre engine.

The company is facing increased competition from the likes of Hyundai's 'i20', Toyota's 'Liva', Ford's 'Figo', General Motors' 'Beat' and 'U-VA' in the premium hatchback category, so the new Swift is being launched to cater the increasing competition. Honda's upcoming hatchback 'Brio' is expected to further intensify the competition.

The company and its suppliers have invested over Rs 550 crore on the new car built on an all-new platform, which will have over 95% of localized components. The 'Swift' has been a runaway success since its launch in 2005 and has clocked over six lakh units sales so far. The company is expecting that the new version will further strengthen its position.

The new Swift will start rolling out from the second production unit in Manesar, which scheduled to be operational from next month. With increased production, the waiting period for the car is likely to come down to 2-3 months from 3-4 months earlier. The company's earlier 'Swift' was priced between Rs 4.09 lakh and Rs 5.38 lakh across petrol and diesel options.