Indigo Marina estate, the latest offering from Tata Motors Ltd, has been priced tantalizingly low to attract more buyers and help small car owners upgrade to spacious models.

The Indigo Marina, which was launched by the Tatas on Wednesday evening, is available in three petrol variants and two diesel versions.

The petrol versions carry a price tag ranging from Rs 424,000 to Rs 484,000, while the two diesel models have been priced at Rs 480,000 and Rs 519,000.

The Marina is powered by a 1.4 litre petrol and diesel engine and will compete with the Baleno Altura from Maruti Udyog, the Corsa Swing from General Motors and the Siena Weekend from Fiat. All the three estates are priced at over Rs 600,000.

Tata Motors said it expected to sell 4,000 to 6,000 units of the Indigo Marina a year, despite poor sales of similar models by rivals.

Rajiv Dube, Tata Motors' vice-president for cars, said the existing estates had been priced for a niche market while the Marina would be positioned as a premium every-day car with added convenience.

Tata Motors, which has an 18.6 per cent share of India's new car market, sold 117,064 units in the year to end-March. Its sales in April-August rose 33.5 per cent to 59,786 cars.