Maruti has spent Rs 470 crore on the development of its latest car and expects that the new Alto will help the company get back its market share.
New Alto assures to give fuel efficiency of 22.7km/litre; 15% higher over its predecessor. The first Alto ever was launched in 2001. Since then, the company has sold 20 lakh models in India and exported 2.5 lakh. But, sales of Alto fell 35% in April-August 2012 to 89,000 units.
Now India’s market leader Maruti Suzuki said that it was finalising raise in the prices of its vehicles, which it would warn later this week. This is a clear sign of a fresh round of hikes in the domestic car.