Ranging from Rs 5.5 lakh to Rs 60 lakh these SUVs from Tata Motors and Mahindra & Mahindra at the lower end of the spectrum to Volvo and Land Rover at the premium end will light up the coming financial year.
India's appetite for flashy sports utility vehicles (SUV) irrespective of their size has become insatiable. One only needs to look at the sales charts of auto manufacturers to know that this is true. That is why vehicle manufacturers have lined up more than a dozen new SUV launches in 2017-18 targetting the budget-to-luxury buyer.
Ranging from Rs 5.5 lakh to Rs 60 lakh these SUVs from Tata Motors and Mahindra & Mahindra at the lower end of the spectrum to Volvo and Land Rover at the premium end will light up the coming financial year. Launch of at least one new SUV from Mercedes-Benz, BMW and Audi will also be seen during the year.
Rush for new launches comes on the back of a robust growth in demand for new SUVs. According to the Society of Indian Automobile Manufacturer sales of utility vehicles during April-January grew by a robust 32 percent even as the rest of the passenger vehicle segment grew by only 9 percent during the same year.
The steady rise in SUVs in the last 2-3 years has translated into the utility vehicle (UV) segment now commanding a share of 25 percent by end of January as compared to 20 percent in the same period last year. UVs made up just 14 percent of the PV industry five years ago.
The compact SUV segment, which saw high voltage action with the entry of Maruti Suzuki and Hyundai, will now witness the debut of Tata Motors, India’s fourth largest car maker, with the most-awaited product Nexon. The five-seater, sub-4 meter curvy SUV is expected to be launched close to Diwali this year, as per sources.
Not far behind will be Ford Motor Company which will introduce the revamped EcoSport, the product that brought the US company back in the reckoning. Showcased at the LA Auto Show last year the new model boasts of a redone front grille, a wider set of headlights and a sporty rear bumper.
The second half of the financial year will see Mahindra & Mahindra debut a stylish new SUV codenamed S201. This new SUV will be based on the X100 platform which presently houses the SsangYong Tivoli. This new compact vehicle will be positioned between M&M's existing offerings KUV100 and TUV300 and will take on the likes of Ford Ecosport, Maruti Brezza and Tata Nexon.
Jeep, the original UV manufacturer from the US now owned by Italian auto maker Fiat, will introduce the Compass, its most affordable product expected to be priced under Rs 30 lakh. This will be the third mainstream model after the launch of Wrangler and Cherokee in August last year.
Upbeat on demand Swedish car brand Volvo, now owned by a Chinese company, will launch two new SUVs starting with the V90 Cross Country next month followed by the XC60 later in the year. There is also the probability of the company bringing the new XC40 which could perhaps come in the final quarter of 2017-18.
There will be renewed interest by carmakers in the Rs 20-30 lakh price bracket after a lull when some manufacturers had withdrawn their products from this segment following lacklustre demand. Toyota’s Fortuner is the market leader in this segment trailed by the Hyundai Sante Fe, SsangYong Rexton, Ford Endeavour, Maruti Suzuki Grand Vitara.
Honda with the CR-V, Nissan with its X-Trail and Volkswagen with the Tiguan will light up this segment in the next few months. The X-Trail will be the stand-out model in the segment as the company is launching the hybrid version of the popular SUV, a first in this segment. The Japanese company claims an increase of nearly 30 percent in the X-Trail’s fuel-efficiency.
Facebook-BCG report suggests these measures for businesses to unlock the changing consumer behaviour in the current pandemic. Read More!