Maruti SuzukiBSE 1.20 % is looking to expand its product offerings at the NEXA chain of premium dealerships, which will sell a third product, the Ignis, starting next month. At present, the company sells premium hatchback Baleno and crossover S-Cross through the 197 NEXA outlets it has in 115 cities. Vehicles sold through the chain currently constitute around 10% of Maruti Suzuki’s overall sales. Its target is to increase this to 15-17% over the next few years.
The Ignis, to be launched on January 13, will be positioned below the Baleno as a premium urban compact vehicle. With the Ignis, Maruti said it is targeting the Indian millenials. “Consumers aged less than 29 years account for 27% of all car purchases now, up from around 22% six years back. The millenials are unique in their approach and consumption pattern. They do their research online and know exactly what they want. So far, nobody has designed a car for them,” said RS Kalsi, executive director for sales & marketing at Maruti.
The Ignis will come strapped with a 1.2-litre petrol and a 1.3-diesel engines. Automatic gear shift technology will be available across both fuel options. Bookings will commence online in early January. “Maruti Suzuki hardly had any presence in the mid-segment two to three years back. They successfully brought in the Ciaz, the Baleno, the Brezza; launched the NEXA chain of dealerships and managed to create a premium-ness around their brand. The Ignis has been developed to do the same for them at the entry level,” said VG Ramakrishnan, managing partner at Avanteum Advisors.
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