Maruti Suzuki India Limited (MSIL) commenced pre-launch bookings of its premium Invicto car in the Nexa channel. Invicto is a hybrid model and is made with an alliance with Japanese carmaker Toyota Motor Corporation.
Hybrid model uses the traditional petrol engine as well as electric battery to function.
Maruti Suzuki had earlier told Moneycontrol that is seeing strong demand for Grand Vitara, a hybrid model and it expects the share of hybrids to go up further with the launch of the Invicto on July 5.
Also read: Maruti Suzuki looking to crack Rs 20 lakh+ segment with Invicto Hybrid MPV
Maruti Suzuki's Senior Executive Officer Shashank Srivastava said that “These vehicles (hybrid) run about 40-50 percent of time on battery and cost around 1.25 times what the petrol version does (as against 1.5 times for EVs). He further said that hybrid sales have been similar to that of EVs, even though they have been launched only recently.
MSIL made a decision to discontinue its diesel vehicle portfolio and focus on increasing the market share of CNG and hybrid vehicles, said Ventura Securities Limited in a report. The registration of hybrid vehicles increased with a CAGR of 251.4 percent during FY15-23, said the broking firm. The share of MSIL’s hybrid vehicles over this period grew 156 basis points to 16 percent.
“Dealers indicated that footfalls and enquiries for Fronx (Maruti Suzuki’s hybrid car) have gained momentum post the launch, price reveal and with the availability of the vehicle at the showroom,” said JM Financial in a June 15 report.
According to Bloomberg consensus, MSIL stock has 38 buy calls, 7 hold and 5 sell calls on it.
Invicto marks Maruti Suzuki’s entry into the 3-row segment. Toyota and MSIL signed a memorandum of understanding in 2017 to develop vehicles using electrification and hybrid technology.
Customers can book the vehicle by paying an initial amount of Rs 25,000.
MSIL’s revenue for FY23 increased 32 percent yoy to Rs 1,19,712 crore. Net profit for the same period increased 2.5 times to Rs 8,211 crore.
On June 19, the stock closed 0.66 percent down at Rs 9540 on the National Stock Exchange.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
