"With Stingray, we carry forward our focus to make our best sellers even more attractive," MSI Managing Director and CEO Kenichi Ayukawa said.

Stingray, which is powered by a 998 cc petrol engine, is available in three variants, with price ranging between Rs 4,10,000 to Rs 4,67,000.

In July, MSI posted 10.88 percent increase in its passenger car sales at 63,O40 units. Car sales in India have fallen for a record ninth month in a row in July, posting 7.4 percent decline.

According to the latest data released by the SIAM, domestic passenger car sales declined to 1,31,163 units in July this year from 1,41,646 units in the same month of 2012.