The Hindu Business Line : Maruti cuts Esteem Diesel price by Rs 38,000

The base model of Esteem Diesel (without power steering) will now be priced at Rs 4.83 lakh (ex-showroom Delhi) as against Rs 5.22 lakh, while the other version will be priced Rs 5.09 lakh, down from Rs 5.48 lakh, the company said in a statement here.

Maruti said the price revision of the Esteem Diesel model was made possible by the recent cut in customs duty. Esteem Diesel is powered by a Peugeot engine, which Maruti imports.

The price cut comes only a day after Maruti announced a reduction of Rs 25,000 on the price of its other sedan, the Baleno. The company also rolled out a new variant of Baleno at Rs 5.60 lakh.

Maruti said it has now `set eyes on the growing A3 segment' of the midsize cars and hence the price cuts and introduction of new model in the segment.

In the April-December period of this fiscal, Maruti recorded a growth of 23 per cent in the A3 category, selling 9,977 cars.

However, its market share in the segment is about stagnant in the face of severe competition from rivals such as Hyundai, Tata Motors, Ford and General Motors.

Maruti said the latest strategy of offering new variants to make Baleno affordable to more people and to lower prices of existing Baleno and Esteem Diesel models is expected to help it enhance its share in the `A3' segment.

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