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Investing.com - UBS maintained its Neutral rating on Maruti Suzuki India Ltd (NSE:MSIL) with a price target of INR13,540.00 following the automaker’s pricing announcement for its new Victoris model.
Maruti Suzuki revealed on September 15, 2025, that its Victoris model will be priced between Rs. 1.05 million and Rs. 1.78 million for petrol variants, Rs. 1.15 million to Rs. 1.56 million for CNG variants, and Rs. 1.64 million to Rs. 2.00 million for strong hybrid variants.
The petrol and CNG versions of the Victoris share engine and transmission components with the company’s existing Brezza and Grand Vitara models, while the strong hybrid variants utilize the same powertrain as the Grand Vitara.
UBS noted that the top-end Victoris strong hybrid variant is priced similarly to the Grand Vitara but offers additional features including Level 2 ADAS and a 5-star NCAP rating that are not available in the Grand Vitara, while the non-ADAS top variant of Victoris is Rs. 90K cheaper than the corresponding Grand Vitara variant.
The investment firm expects "reasonable cannibalization" across Maruti Suzuki’s model lineup, as the Victoris delivers larger dimensions, better features, and higher safety ratings compared to the Brezza at what UBS describes as a "modest premium."
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