Grappling with production constraints and a deluge of new small cars, domestic car market leader Maruti Suzuki India Ltd on Wednesday launched a higher performance variant of its bestselling Alto.
The Alto-K10 is powered by a bigger 1-litre K series engine — which is also found in the Estilo, A-Star and Wagon R — and costs Rs 3.03-3.16 lakh (ex showroom Delhi).
Despite robust growth in the current fiscal, Maruti's market share has tumbled to less than 50 per cent largely due to lack of capacity and the entry of new cars such as the Chevrolet Beat.
"The Indian market is maturing very fast and even as the Alto remains a bestselling model, there is a section of consumers who want a more powerful and more fuel-efficient car," said Maruti Suzuki India head Shinzo Nakanishi.
"We will try and regain our 50 per cent market share and try to add as much volume as possible with our new cars."