In an exciting update, Maruti Suzuki Chairman RC Bhargava shares key insights, confirming that small cars’ prices remain stable in 2024. Additionally, exciting news about the year-end launch of Maruti eVX, along with plans for exporting to Japan and Europe, stirs anticipation!
Maruti eVX Launch and Global Export Plans
RC Bhargava confirms that the Maruti eVX, the carmaker’s first electric vehicle, is set for a year-end launch. Adding to the anticipation, he discloses plans to export this model to Japan and Europe. The eVX concept was first seen at the 2023 Auto Expo last year. Next, Suzuki came up with a closer-to-production version at the Japan Mobility Show 2023. The production-spec car will now make a global debut late next year alongside a Toyota sibling. Both electric SUVs will likely ride on Toyota’s 27PL platform.
Although there is no official confirmation at present, the eVX will likely have a 60 kWh battery pack. This battery has the potential to drive either a single-motor setup for a 2WD configuration or a dual-motor setup for AWD. The peak power on offer will range from 138 to 170 hp. Impressively, the vehicle is estimated to achieve a range of approximately 550 km. In terms of dimensions, the eVX is expected to measure around 4,300 mm in length, 1,800 mm in width, and 1,600 mm in height, featuring a segment-leading wheelbase. However, confirmation of these specifications will only be available once officially released.
Maruti Suzuki’s Post-COVID Pricing Strategy
Bhargava assured consumers that small cars would see no price increase, and even for other car segments, any hike would be nominal. Addressing concerns about cost pressures, he expresses optimism. Stating that the semiconductor shortage issue is expected to resolve by 2024, he envisions lower production constraints.
Post-COVID challenges prompted car price increases in 2023. However, Bhargava’s outlook for 2024 suggests a more stable pricing scenario, with no significant pressure on raw material costs. Maruti Suzuki had earlier announced a planned price increase in January 2024, citing inflation and rising commodity prices.
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Future of Small Cars in India
Discussing the future of small cars in India, Bhargava emphasized the evolving landscape. With over 150 million two-wheeler owners, he predicted a shift towards small cars as the quality of life improves. Anticipating a revival by 2025 or 2026, Bhargava highlights changing affordability dynamics.
Bhargava addressed the longstanding issue of waiting lists for Maruti cars. He attributed the past waiting lists to semiconductor challenges and lower capacity utilization for larger cars. However, positive adjustments in production capacities and improved semiconductor conditions in 2024 have significantly reduced waiting times.
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What We Think
As we embark on the automotive journey in 2024, Maruti Suzuki’s commitment to stable pricing, anticipation of the Maruti eVX launch, and global export plans reflect a dynamic and promising year ahead. Stay tuned for the unveiling of Maruti’s electric marvel and its impact on the global automotive landscape.