India's Maruti Suzuki launches Ertiga, starting at Rs 589,000

New Delhi, Apr 12 (PTI) The country's largest carmaker Maruti Suzuki India (MSI) today launched its compact multi purpose vehicle Ertiga in an introductory price range of between Rs 589,000 (about USD 11,550)and Rs 845,000 (about USD 16,550) (ex-showroom Delhi) as the company looks to tap the fast growing utility vehicles segment. Ertiga will be available in both petrol and diesel variants. The petrol variant is priced between Rs 589,000 and Rs 730,000 (about USD 14,300), while the diesel option will cost between Rs 730,000 and Rs 845,000 (ex-showroom Delhi). While the petrol variant is with a 1.4 litre engine and a fuel economy of 16.02 kmpl, the diesel one will have a 1.3 litre powertrain and a fuel economy 20.77 kmpl. "Utility Vehicles are a promising segment, and we have been largely absent from here so far. The segment has demonstrated a compounded annual growth rate (CAGR) of 20 per cent over the past three years. We strongly believe that this trend will continue in future...," MSI Managing Director and CEO S Nakanishi told reporters here. At present, the MUV and SUV segment in India witness sales of about 30,000 units a month. MSI has invested of about Rs 4.0 billion (about USD 78.0 million) to develop the Ertiga, which the company said is a critical vehicle not only for it but also for its parent Suzuki Motor Corp. It has, however, been designed with specific focus on the Indian market. At the Delhi Auto Expo in January, Nakanishi had said "Ertiga holds big significance for Maruti Suzuki in India and for Suzuki Motor Corporation for the global markets." India is the first market to sell Ertiga and will be followed by other South East Asian markets, the company said. MSI is targetting urban families, which are looking for a vehicle that offers more space and flexibility than a sedan, with the Ertiga. PTI