MUMBAI: Maruti Suzuki India (MSI) finally revealed the price tag of Baleno on Monday, and the figures look very aggressively placed with an eye on the leadership position in the premium hatchback segment.
Balenos petrol variants are priced between Rs 4.99 lakh and Rs 7.01 lakh while the diesel trims are priced in the range Rs 6.16 lakh to Rs 8.11 lakh.
The petrol automatic variant, featuring continuously variable transmission (CVT), is priced at Rs 6.76 lakh (all prices ex-showroom Delhi).
Baleno is a real global model to satisfy our customers not only in India but also across global markets, MSI Managing Director and CEO Kenichi Ayukawa told reporters here.
The model comes with sophisticated design and advanced technology, he added.
I am excited that this model will be exported to Japan from India therefore opening a new chapter in the long history of MSI, Ayukawa said.
The firm plans to export the model to over 100 countries. It will be manufactured at the companys Manesar plant.
MSI is eyeing leadership in the premium hatchback segment with Baleno, which will be sold through the companys new premium network of showrooms, Nexa.
We are looking for leadership position in the segment in a gradual manner. We are optimistic about this model to achieve top slot as it is packed with features, MSI Executive Director Marketing and Sales R S Kalsi said.
Baleno will be competing with the likes of segment leader Hyundai i20, Honda Jazz and Volkswagen Polo which are priced between Rs 5.34 lakh and Rs 8.63 lakh.
The premium compact segment comprises 20% of the total domestic passenger car market.
According to industry estimates, some 5-5.3 lakh compact segment cars are sold per annum in India. During April-September this fiscal, around 2.9 lakh compact hatchbacks have been sold.
MSI and its supplier partners have invested Rs 1,060 crore in the development of Baleno. It is the second model after premium crossover S-Cross which would be sold through Nexa outlets in the country.
Baleno comes with Apple CarPlay, an initiative in car entertainment system from the global leader of smartphones. MSI will be the first OEM in India to offer Apple CarPlay.
The model also comes with various features including multi-information speedometer and UV reduction glasses.
As per the company, the petrol variant of Baleno would deliver a fuel mileage of 21.4 kmpl while the diesel version would deliver a mileage of 27.39 kmpl.
Although the new model shares name with the erstwhile premium sedan Baleno there is nothing common between the two models.
MSI had discontinued the mid-sized sedan Baleno in 2006 and was replaced by SX4 later on.
The company, which plans to launch several models this fiscal, has set a target of achieving two million sales annually by 2020.
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