Mahindra will launch new SUVs soon. The home grown brand Mahindra & Mahindra had already been facing tough competition in the segment from brands such as Maruti, Hyundai. Since the launch of Jeep, the competition for Mahindra & Mahindra has increased. Mahindra & Mahindra is bracing up to improve its standing in the SUV and utility vehicle segment and is set to invest Rs 5,000 crore into the development of four new SUVs. It was reported that out of the four new SUVs that Mahindra is planning to launch, two will be from its new global platform.
Mahindra & Mahindra (M&M) in the race
According to reports, Mahindra has confirmed that a new global platform is in progress and has already reached its advanced stage. It was also reported that one out of the four SUVs will be specially aimed at the international markets. It has also been reported that M&M is in race for a $6 billion order from the US government. This order is believed to be for postal delivery vehicles.
The new SUVs from Mahindra and Mahindra
According to reports, the first SUVs out of the four will be a seven-seater MPV (multi-purpose vehicle). This MPV is believed to compete against the market leader Toyota Innova. The second vehicle will follow the design of its Korean subsidiary Ssangyong’s Tivoli. The five-seater SUV will carry Mahindra badging. It is believed that this SUV will add refinement in Mahindra’s product lineup. The premium vehicle may head towards the European markets.
Launch of the new SUVs from Mahindra
Mahindra’s passenger vehicles under the utility vehicles range from compact KUV100 to its SUV XUV500. The company has further plans to introduce a new electric vehicle in India. The launch of the new electric vehicle is expected in the next two years. Two products are expected to be launched in the coming two years out of which the U321 MPV has been developed on the new global platform. The new vehicle is expected to be rolled out this financial year as per reports.
As per the reports, the vehicles will be launched in India first before being introduced in other markets. Though the launch of these vehicles in other countries has not been confirmed yet by the company. It is noteworthy that Mahindra & Mahindra’s market share has been constant in the past two years It neither lost any market share nor did it gain across different sections.
Source: Economic Times