MRZUY - Maruti Suzuki is expected to see boost from new mass-market hybrid developed with Toyota

Nomura broke down the new Hyryder mid-size SUV developed under the alliance Maruti Suzuki ( OTCPK:MRZUY ) has with Toyota Motor Corporation. The Hyryder model is the first mass market hybrid car made by Toyota for India and is seen as important for Maruti Suzuki.

Analyst Kapil Singh said Hyryder’s design and feature elements look good and have many commonalities across engines, infotainment, AC controls, steering, etc. with the existing Maruti Suzuki models, which could help keep pricing competitive.

"The model is seen having a high volume potential (~10-15k per month, on our estimate), including that for the MSIL variants if pricing is competitive.

Nomura expects the model to contribute to the overall 25% volume growth for the Indian automaker in FY23 and 9% volume growth forecast for FY24.

The firm kept a Neutral rating on Maruti Suzuki ( OTCPK:MRZUY ), saying it preferred Mahindra and Mahindra (MADHY) within the Indian auto sector.

Read more about the Urban Cruiser Hyryder SUV

For further details see: