Maruti Suzuki launches Invicto: Stock price hits record high

Maruti Suzuki Invicto launch: Maruti Suzuki India shares were in focus on Wednesday (July 5) after the auto major launched its much-awaited multi-purpose vehicle (MPV) Invicto in a glittering ceremony. The stock rallied after the launch and crossed the crucial Rs 10,000 level on the BSE. It hit a record high of Rs 10,036.70 during the trade but eventually ended at Rs 9,985.60, up 3.52 per cent.

Last month, Maruti Suzuki India opened bookings for Invicto. The vehicle, the company had said, can be booked with a payment of Rs 25,000 from the company's premium retail outlet NEXA showrooms or online. 

The Invicto marks the company's entry into the premium three-row segment, as it looks to gain a foothold in the above Rs 20 lakh segment with the new model after having attained leadership in the Rs 15-20 lakh vehicle segment last fiscal.

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According to MSI Senior Executive Officer (Marketing and Sales) Shashank Srivastava, the three-row SUV/MPV segment stood at around 2.58 lakh units last fiscal with vehicles priced over Rs 20 lakh accounting for around 1.2-1.25 lakh units.

The company is targeting customers who want a premium three-row vehicle with the characteristics of an SUV and MPV. MSI will source the strong hybrid model from Toyota Kirloskar Motor (TKM) as part of a global collaboration between Toyota and Suzuki. TKM already sells Innova HyCross in the domestic market and the same would be supplied to MSI with certain changes in design and other elements.