"Ritz is our parent Suzuki's fifth global model and it will be the first Bharat Stage-IV emission norms compliant Indian car. We have launched it at the beginning of the fiscal and we hope it will bring excitement in the market," Maruti Suzuki India Managing Director and CEO Shinzo Nakanishi said.
He added that it has been developed on the existing hatch-back Swift's platform and common usage of the platform helped the company to offer Ritz at a lower price. The small car will be availble at an introductory price of Rs 3.90-4.99 lakh.
"Also higher level of localisation helped us in reducing the cost. Ritz has 85 per cent of localisation in components," Nakanishi said.
He further said that the company has not set any target for sales yet but is ready to meet any requirements.