Maruti has invested Rs 1,450 crore in this hatch, it is not Alto, WagonR or Baleno

The country's largest carmaker, Maruti Suzuki India, has invested Rs 1,450 crore in the development of the new Maruti Suzuki Swift, according to a top company official.

Maruti launched the fourth-generation Swift on May 9 in the price range of Rs 6.49 lakh to Rs 9.64 lakh (ex-showroom). The hatchback uses a new Z-Series 1.2-litre 3-cylinder petrol engine, which develops 82PS of max power and 112Nm of peak torque, and can be paired either with a 5-speed MT or a 5-speed AMT.

At the new Maruti Suzuki Swift launch, the carmaker's MD and CEO Hisashi Takeuchi said: "… we have invested approximately Rs 1,450 crore towards this new generation Swift. This includes investment in tools and dyes for the vehicle as well as the new and more environment-friendly Z-Series engine."

The new Swift will be manufactured at Maruti's Suzuki Motor Gujarat plant for domestic sales as well as exports.

Globally, Suzuki has sold nearly 6.5 million units of the Swift across 169 countries. India has been the largest market for the hatchback, accounting for over 46% share at nearly 3 million units. The second-largest market is Europe at 1.2 million units, followed by Japan at 0.7 million units.

India got the first-generation Swift in 2005, the second-generation Swift in 2011 and the third-generation Swift in 2018.

«India continues to be an important market for Suzuki. Our long-term goal is to produce and sell a total of 4 million units annually, including exports. For us to maintain our leadership position, it is important to cater to diverse customer segments,» Takeuchi said.

«The hatchback segment in India continues to be a high-volume segment, accounting for approximately 28% of total passenger vehicle sales. Interestingly, the premium hatchback segment contributes nearly 60% of total hatchback sales,» he added.

Maruti is not only the leader in the premium hatchback segment with models like the Swift and the Baleno, it leads the overall hatchback segment with models like the Alto K10, S-Presso, Celerio, WagonR and Ignis.

«With only 32 vehicles per 1,000 people compared to over 600 in developed countries like Japan, India presents a vast pool of car aspirants. As car ownership rises, the hatchback