India's largest carmaker Maruti Suzuki India (MSI) is entering the multi-purpose vehicle segment with the `Ertiga', as it looks to complete its portfolio of passenger vehicles.
The vehicle, which has been developed at a cost of Rs400 crore, would be launched globally next month.
A PTI report quoting MSI managing executive officer (marketing and sales) Mayank Pareek, said the company was trying to create a new segment of compact MPVs, just as it did with Swift in the hatchback segment.
The company was not present in the MPV segment despite being the overall market leader in the country, he said, adding that with Maruti Suzuki Ertiga, the company would have a "complete range of passenger vehicles".
He said the market for the MUV and SUV segment in India was about 30,000 units a month and Maruti would now have a presence there with the new vehicle.
In India, there were around 15 million cars and about 8 million owners were looking to upgrade, but not all of them were simply just considering bigger cars. He said they were looking for family oriented MPVs, which was what the company was targeting.