Suzuki Motor Corp. unveiled its fully remodeled Escudo compact sport utility vehicle for the domestic market Monday, hoping the new addition will boost sales of compact cars.
The new Escudo is the third-generation of the line, which was launched in 1988. It is the Escudo's first revamping in eight years.
"The Escudo set the precedent for the expansion of the SUV market, and we developed the remodeled version to appeal to customers worldwide," Suzuki President Hiroshi Tsuda told a news conference.
"In fiscal 2004, we sold more than 70,000 compact cars (in Japan). With this new model and other new models, we hope to achieve 100,000 units or even 120,000 units in the near future," Tsuda said.
Powered by a 2-liter or 2.7-liter engine, the new Escudo boasts more cabin room, thanks to a new body that is 30 cm longer, according to Suzuki officials.
The 2-liter model was launched Monday, but the 2.7-liter model will hit the market in mid-June. The new SUV will be priced between 1.94 million yen and 2.52 million yen. The company projects annual sales of 15,000 vehicels.
The Shizuoka-based minivehicle maker also plans to launch the Escudo in the United States, Europe and other parts of Asia next year. Suzuki envisions the Escudo, which is known as the Grand Vitara overseas, as a global strategic vehicle, it said.