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Utility vehicle specialist Mahindra & Mahindra Tuesday named the upcoming 7-8 seater model 'Marazzo' (codename U321), and it is slated to be launched before the end of this quarter.
This is first of the three launches the company has lined up for the year and one of the two before Diwali. The final one will come in the last quarter.
Marazzo (which means shark in Spanish) is built on a completely new platform. It has been designed and engineered using M&M's three resources based in India, the US (Mahindra Automotive North America) and Italy (Pininfarina).
Pawan Goenka, Managing Director, Mahindra & Mahindra said, "The Marazzo was conceived after long customer insighting. It is born of a vision to design a global vehicle."
The vehicle will likely be positioned between the Maruti Suzuki Ertiga and Toyota Innova Crysta, both of which are market leaders in their respective categories.
M&M is targeting the young buyer with special emphasis on space and style. The market Marazzo will compete in clocks 9,000-10,000 units a month, said the company.
Goenka refused to elaborate the choice of diesel engines Marazzo will have but promised to offer a petrol engine on the utility vehicle.
He also did not specify the investments on developing the Marazzo. But, sources pegged it at around Rs 1,500 crore.
Company officials also said the new model will not replace any of its existing models, slaying speculations that the struggling Xylo may be phased out.
"Each of Mahindra's models caters to specific segments and sub-segments of buyers. The Marazzo will co-exist alongside all other Mahindra products," Goenka added.
The model will be manufactured at the Nashik facility where it also makes Xylo and Scorpio.
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