Suzuki Motor aims to secure a 30% share in the market for minivehicles in Japan in fiscal 2013 starting 1 April in the face of fierce competition from its rivals.

Suzuki's share for minivehicles, with engines of 660 cc or less, dropped below 30% in 2012 for the first time in 19 years, Kyodo News reported. It lags behind Daihatsu, which holds 34.1% and also faces increased competition from Honda.

"Competition is intensifying, but we have been dedicated to minivehicles. We look to sell 580,000 units" in the next business year, Suzuki chairman Osamu Suzuki said at a news conference in Tokyo as the automaker unveiled its new Spacia minivehicle, one of the models the automaker is pinning its hopes on for the sales expansion.

The new model can run 29km on a litre of petrol thanks mainly to its lighter body compared with its predecessor, the Palette.