Maruti Suzuki Unveils Jimny's Price Details: Can the New Offering Drive Stock Growth against Mahindra Thar

Maruti Suzuki Launches Jimny to Enhance SUV Portfolio

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Pricing Details and Trims

Maruti Suzuki has announced the pricing details of its much-anticipated SUV, Jimny. The vehicle is available in two trims, Zeta and Alpha, and falls under the premium Nexa retail brand. The ex-showroom Delhi price ranges from Rs 1,274,000 to Rs 1,505,000.

Analysts Assess Jimny's Market Potential

Analysts have weighed in on the pricing strategy and market potential of the Jimny. While some believe the pricing is slightly higher than anticipated, Maruti Suzuki's successful track record of launch success provides optimism for market share recoupment. Analysts anticipate monthly sales of 3,000-5,000 units.

Competing with Mahindra Thar

The Jimny is expected to compete directly with the Mahindra Thar in the SUV segment. Nomura India notes that despite the higher pricing, the Jimny's unique five-door configuration and strong off-roading capabilities may attract a niche segment of buyers and justify a premium.

Comparison with Mahindra Thar Pricing

Elara Securities compares the pricing of the Jimny with the Mahindra Thar. They find that the base variant of the Jimny offers an 8% discount compared to the base variant of the Thar Petrol 4WD. The top-end variant of the Jimny is priced at a 7% discount compared to the top-end variant of the Thar LX Petrol AT 4WD.

Market Outlook and Analyst Recommendations

Maruti Suzuki considers India as the mother plant for the Jimny, with initial bookings already reaching 30,000 units split evenly between manual and automatic variants. Analysts project an increase in demand as pricing is announced and test drives become available. Elara Securities expects an incremental monthly volume addition of 4,000-5,000 units for the Jimny in FY24E.

Analysts' Stock Assessment

Analysts have differing opinions regarding the stock's performance. Elara Securities maintains a positive outlook, projecting higher-priced new model launches to boost average selling prices (ASP) and increase earnings before interest and taxes (EBIT) per vehicle. On the other hand, Nomura India suggests no upside potential, valuing the stock at Rs 9,659.

Key Highlights of News

• Maruti Suzuki Launches Jimny SUV in India

• Jimny Priced Starting at Rs. 12.74 Lakh

• Jimny Available in Two Trims - Zeta and Alpha

• Jimny Expected to Compete with Mahindra Thar

• Jimny is a 5-door off-roader
• Jimny is powered by a 1.5-liter petrol engine
• Jimny gets a 4-wheel drive system
• Jimny is expected to be a popular choice for off-road enthusiasts

Facts:

• The Jimny has been in development for several years and was first unveiled at the 2018 Auto Expo.
• The Jimny is based on Suzuki's Global Small Car (GSC) platform and is also sold in other markets, including Japan, Europe, and Australia.
• The Jimny is expected to be a popular choice for off-road enthusiasts and lifestyle buyers.

News Analysis: The launch of the Jimny is a significant move by Maruti Suzuki. The SUV is expected to help the company expand its presence in the growing SUV segment. The Jimny is also expected to help Maruti Suzuki compete with the Mahindra Thar, which is the current market leader in the off-road segment.

The pricing of the Jimny is slightly higher than expected. However, given the features and capabilities of the SUV, it is still a competitive offering. The Jimny is also expected to have good demand, given the popularity of the off-road segment in India.

Overall, the launch of the Jimny is a positive development for Maruti Suzuki. The SUV is expected to help the company grow its sales and market share in the coming years.