Maruti Suzuki India Limited (MSIL), which is experiencing a massive decline in demand for its entry-level segment cars, has confirmed the launch of a new small vehicle on September 30. The company said its latest offering is set to “redefine” the entry-level segment. While Maruti hasn’t announced the official name and specifications of the vehicle, it is widely reported that the new offering will be called S-Presso.
The car would be the production variant of Future S Concept, which was showcased at the 2018 Auto Expo. With the new vehicle, the company would be aiming to reduce the slump in sales it has seen in recent months, which has also impacted its market share in the Indian passenger vehicle market.
Owing to this big decline last month and consistent double-digit drop over the last few months, the market share of India’s largest carmaker eroded to 47.4 per cent from the high of 53.1 per cent in April 2019. The lowest Maruti’s monthly market share plunged to before was two years ago in June 2017, when it dropped to 46.9 per cent.