Maruti Suzuki said on Saturday that it will launch its premium compact car Ritz on May 15, which will be in straight competition with the Swift in the same segment.
"Ritz will directly compete with Swift. In the past, when we have launched cars in the same segment, it has helped the market to grow," Maruti Suzuki's Managing executive officer IV Rao said here.
"With the launch of Ritz, our customers would have two cars to choose from in the same category," he said.
Ritz and Swift would compete with Fabia, Getz, UVA and i20. Swift has been estimated to have a marketshare of 75 per cent in the compact car segment.
In the next couple of years, seven new cars are being planned to be launched in the compact car segment by various car-makers.
Swift which was launched four years ago, has been a successful product of Maruti. At present, Maruti sells about 10,000 Swifts a month, Rao said.
The company has put up a new assembly line for Ritz at its factory in Gurgaon.
Last year, Maruti launched Swift in the European market. It makes Swift at a plant in Hungary
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