The South Korean carmaker revealed that Kia Syros will be positioned between the Sonet and Seltos SUVs. Once launched, it will be taking on the likes of the Maruti Brezza, Tata Nexon, Hyundai Venue, Mahindra XUV 3XO, and and the soon-to-be launched Skoda Kylaq
M&M has committed Rs 4,500 crore on the overall development, including the creation of production capacity, for the two new electric brands.
With the Kylaq, Škoda Auto India will now offer three SUVs including Kodiaq and Kushaq. The new model is based on the MQB-A0-IN platform, which also underpins the Slavia sedan and Kushaq SUV
At least 7-8 launches across various segments beginning at Rs 8 lakh (ex-showroom) and going up to Rs 2.10 crore (including import duty)
The investment is over and above the USD 600 million the company has earmarked for new product development and creating additional sales infrastructure in the country as it eyes trebling domestic sales to 1 lakh units and exports to a similar number by 2026
Calling the response 'unprecedented', M&M said it will inform customers about the tentative delivery schedules over next three weeks in a phased manner.
Some of the best-selling models in that category include Hyundai Creta (Rs 1.47 - 22.99 lakh), Tata Nexon (Rs 2.50-16.50 lakh), Mahindra XUV500 (Rs 1.80 -19.90 lakh), Mahindra Scorpio (13,000 to Rs 20.11 lakh), Mahindra Thar (Rs 50,000 to Rs 20 lakh), and Renault Duster (starting at Rs 1,68,000).
In the face of sluggish demand, new vehicle launches are set to play a pivotal role in reinvigorating the automotive market, according to S&P Global Mobility
Experts believe that M&M's aim to lead the Rs. 12.5+ lakh SUV segment is ambitious but not unrealistic.
M&M has invested around Rs 1,100 crore in the development, including creating additional production capacity for the five door Thar, which was designed at the Mahindra India Design Studio (MIDS) in Mumbai
The starting price for the base petrol model of the Thar Roxx is set at Rs 12.99 lakh, while the base diesel model begins at Rs 13.99 lakh.
He also acknowledged that the company is very mindful that if the waiting periods are high, it may lead to higher cancellations.
Mahindra and Mahindra's SUV revenue marketshare went up from 17.6 percent during FY 20 to 20.4 percent during FY 24
Out of the total amount earmarked for auto verticals, nearly 52 percent of the outlay will be spent on Internal Combustion Engine Vehicles, especially Sports Utility Vehicles (SUVs)
The company received 27,000 bookings in the first 10 minutes itself, which demonstrated 'incredible enthusiasm for Mahindra’s new SUV', said the carmaker
Once launched, Mahindra XUV 3XO will be taking on Tata Nexon, Hyundai Venue, Maruti Brezza and Kia Seltos
With the XUV 3XO subcompact Sports Utility Vehicle, the homegrown automaker is looking to target customers who aspire to buy an ultra-premium XUV7OO that is priced in the range of 13.99 lakh to Rs 26.99 lakh
The XUV 3XO comes in a total of nine variants, and the top-end trim, which is the AX7 L trim, is priced at Rs 15.49 lakh (ex-showroom).
For the entire financial year, the company’s standalone net profit went up by over 64 percent to Rs 13,209 crore as against Rs 8,049 crore during the previous year ended March 2023
The German luxury carmaker expects the GLC to become its top-selling SUV model followed by models like the GLA, GLB GLS and GLE.
Tarun Garg pointed to the significant contribution from rural markets for Hyundai's SUVs like Exter, Venue, and Creta, noting a gradual shift in rural customers' preferences towards modern and larger SUVs.
Tarun Garg, chief operating officer of HMIL, added that the country’s largest car exporter is working on alternatives to circumvent the Red sea crisis impact
This is the third model after i20 hatchback and Venue compact SUV to be offered with an N Line edition.
The petrol-driven SUV will be a direct competitor to Tata Nexon, Hyundai Venue and Maruti Brezza, sources told Moneycontrol
Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector) at M&M, said the farmers' protest will not have "any significant impact" on the tractor industry's growth