Maruti to launch a Luxury sedan codenamed YY4 next year
Maruti Suzuki is the Indiaâ€™s largest automobile manufacturer and has more than 50% market share in the Indian market. The company specializes in manufacturing compact sized cars and has a good reputation in the domestic market with excellent service and support backup. Their Maruti Alto is the largest selling car in this market and it comes well supported by other models like Maruti WagonR and Zen.
The company recently launched Suzuki Swift in the Indian market and saw a tremendous response from the Indian customer. This latest generation automobile still calls for a waiting period of a couple of months and the curiosity for latest generation products has led to the market leader considering launching another high profile product sometime next year.
Maruti is now considering entering the luxury sedan segment, which is one of the fastest growing segments in the Indian market. They are currently working on developing a car on the YY4 concept platform and the car is expected to be launched sometime next year. This model would come in the price range of Rs. 9-10 lakhs and would mark an entry of the budget carmaker in the segment where models like Hyundai Elantra and Toyota Corolla fight out with Skoda Octavia.
The company has already started the development work on this model and is currently identifying vendors for sourcing key components. Honda is going to launch their model Honda Civic in this particular segment next year and the entry of Maruti Suzuki in this segment is surely going to hotten up the market.