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The top-end prices of Mahindra & Mahindra's utility vehicle (UV) range will go up by about Rs 9 lakh this year on plans to launch three new premium SUVs.
With a new global SUV (code named W 201) and two Ssangyong models Rexton and Korando expected to find its way into the market, the price for a top-end Mahindra product would go up to around Rs 20 lakh, from the Rs 12 lakh one currently pays for a top-end Scorpio.
In order to maintain an above 65 per cent share of the UV segment, the company will also launch a compact Xylo in the next one year, besides introduce product refreshments like a new Scorpio on a ‘monocoque' platform and a new version of its top-selling Bolero. This comes at a time when the competitors such as Ford, General Motors, and Nissan-Renault are all preparing to launch new UVs.
“This year we aim to add around 8-10 new products, including new models on the existing platforms. We will also increase our SUV range to Rs 18-20 lakh from Rs 11-12 lakh with the addition of three new products,” said Dr Pawan Goenka, President, Automotive and Farm Equipment Sectors, Mahindra & Mahindra.
After a flurry of acquisitions and expansions in the last year, Mahindra & Mahindra has said that in 2011 the company would not add any new international markets. Instead, it would look to consolidate business in existing regions, including the US, while working on the successful integration of Korean firm Ssangyong with the company. The Ssangyong acquisition is expected to be completed in March-April.
Branding activities
Mahindra is also increasing its branding activities to stave off growing competition. It has started a new ‘Adventure' team within the company to design new off-road event concepts for customer clubs.
“We're trying to use Adventure for branding since Mahindra is ‘the' off-road carmaker in India. The Great Escape is one such thing where we will increase the frequency of events to 20 per year from the current 8-10 a year,” said Dr Goenka.
roudra.b@thehindu.co.in
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