New Delhi, Aug 17 (IANS) Automobile major Maruti Suzuki Wednesday launched the new model of its bestseller car Swift, priced between Rs.4.22 lakh and Rs.5.53 lakh for petrol car and Rs.5.17 lakh-to-6.38 lakh for diesel-powered vehicle.

"I am confident that the new Swift will create new benchmarks with its improved fuel efficiency, stylish and sportier looks and high performance," said Maruti Suzuki managing director and chief executive Shinzo Nakanishi.

According to Nakanishi, the company chose to launch the new model of the hatchback even as the older version of the car was still in demand.

"We have launched the new Swift at a time when there was significant demand for the outgoing model," Nakanishi said.

The company said that it invested Rs.550 crore in the development of the new car which has over 95 percent of localised parts.

The car is built on a new platform which is light-weight, longer and wider than its old version and packs near 140 new features.

"Maruti Suzuki engineers have adopted several new weight-reduction techniques for an enhanced power to weight ratio in the new Swift," the company said in a statement.

The car gives a four percent improved mileage in petrol version at 18.6 km per litre and six percent better mileage at 22.9 km per litre in diesel. Both the variants are environment-friendly and come under bharat Stage-IV emission standards.

The interiors of the car come with multi-layered dash board with a waterfall console, chrome usage on air conditioner vent knobs, door handles and a multi-information LCD display for fuel efficient, temperature and trip-time.

According to Mayank Pareek, managing executive officer, marketing and sales, the new variant is being manufactured at the company's Manesar plant-A and B with a capacity of around 16,000 units to 18,000 units per month.

"Currently we have capacity of around 16,000 units to 18,000 units per month. We will wait for some time and only then decide on further increasing the capacity," Pareek told IANS, adding that the car has a waiting time of two-to-three months.

Swift's first model was launched in India in 2005 powered with a petrol engine. The diesel version was launched in 2007. In the last six years, the car has clocked sales of 600,000 units.