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Mumbai, Aug 6: The much awaited new Maruti Alto model powered by 1000cc K10 series engine has been launched in India. The new Maruti Alto features the new engine that already powers Zen Estilo, A-Star and new Wagon R and is priced at Rs. 3.03 – 3.16 lakh ex-showroom, Delhi.

The engine will produce 68bhp of peak power (compared to 46bhp produced by the existing 800cc Alto). The existing top end model of Alto competes strongly with Hyundai Santro and Chevrolet Spark and captures 70 percent of the market share.

MSIL sold 240,000 units of the model last year which is nearly quarter of the sales of MSIL.

"The Indian market is maturing very fast and even as the Alto remains a bestselling model, there is a section of consumers who want a more powerful and more fuel-efficient car," said Maruti Suzuki India head Shinzo Nakanishi.

"We will try and regain our 50 per cent market share and try to add as much volume as possible with our new cars." Nakinashi’s comment comes after Maruti witnessed fall in its market share to 47 percent for the first time in past few decades.