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Maruti Suzuki, India’s top carmaker, said on Thursday it had priced newly launched five-seater multipurpose car Eeco at 259,000 rupees ($5,640), as competition for low-cost vehicles heats up.

In the face of growing competition in the low-priced small car segment in the country, Maruti Suzuki, on Thursday, launched its family car Eeco –– aimed at targeting the low middle income group, priced at around Rs 2.59 lakh.The vehicle comes with an option of 7-seater (Rs 2.71 lakh, non-a/c) or 5-seater (Rs 2.89 lakh, with a/c), with a further option of six colours.

“Eeco is a multi-purpose family car specifically designed for India by our own engineers and has  It has been priced very competitively,” Maruti Suzuki Managing Director and CEO Shinzo Nakanishi said.

The Eeco –– fitted with 1200 cc engine –– is a five-door C-segment car, he said adding “Maruti Suzuki engineers have specially developed the Eeco, its new powerful engine palce and front ,front wheel drive, and a new transmission system to meet the diverse consumer aspirations that look for a vehicle that fit a large family and at the same time provides flexibility for dual use.” Eeco is the fourth model from the Maruti stable that meet the stringent BSIV norms well ahead of the April 2010 deadline, Nakanishi said.

The Eeco is expected to initially sell 40,000 units annually,The segment is currently very small with close to 1.3 lakh units sold annually, but with the increasing demand from semi urban and rural India, it is expected to grow at a faster pace.

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