Maruti MD Jagdish Khattar (right) with director K. Saito in New Delhi on Wednesday. Picture by Prem Singh

New Delhi, May 25: Maruti Udyog today launched its premium compact hatchback ?the Swift ? at an aggressive price tag of Rs 3.87 lakh for its lowest variant (the Lxi).

The eagerly-awaited model will be available in three variants and eight colours. The mid-level (Vxi) and the higher-end (Zxi) will cost Rs 4.05 lakh and Rs 4.85 lakh (all prices ex-showroom, Delhi). Its top-end models carry features like automatic climate control and dual front airbags.

This is the introductory offer for the Swift as Maruti revs up to take on competition in the premium compact hatchback segment, where it will be pitted against Hyundai?s Getz, Fiat?s Palio and Corsa?s Sail.

The base model of Getz, the premium compact car from Hyundai, is priced higher at Rs 4.5 lakh. Hyundai has received a tepid response to its model, selling 1,300 units per month till April this year since its launch in September.

Jagdish Khattar, managing director of Maruti, refused to say how long the automaker intended to keep its introductory offer going and when it would raise prices. ?Let?s see how the bookings go. It will all depend on the response we get. But the offer will continue for a reasonable period,? he added.

The company has already received advance bookings for 8,000 to 9,000 units. The deliveries will begin in the first week of June.

Powered with a 1.3-litre petrol engine, the Swift has a top speed of 160 kmph. As part of the aggressive marketing strategy, Maruti has appointed 1,000 sales agents who will only focus on selling the Swift.

A diesel version of the Swift will be available by the end of next year.

While Khattar declined to provide any sales target, a company official said 200 units of the model will be produced per day, which takes its sales target to roughly 6,000 units per month.

Asked if Suzuki had plans to use India as a production base for the Swift to export it to other markets, he said there were no immediate plans. ?However, we will be exporting it to neighbouring markets,? Khattar added.

Swift is based on European design and styling, built with Japanese quality and precision. With the participation of 25 Indian engineers during the design stage, the car has many India-relevant features.