Mahindra XUV300 launch in February: Check price and specifications
Mahindra & Mahindra is all set to launch its new compact SUV named XUV300 in February, 2019. The sub 4-meter SUV is built on the X-100 platform will be launched in both petrol and diesel variants by mid-February, 2019.
Mahindra & Mahindra is all set to launch its new compact SUV named XUV300 in February, 2019. The sub 4-meter SUV is built on the X-100 platform will be launched in both petrol and diesel variants by mid-February, 2019. The 5-seater XUV300 will be manufactured at M&M's Nashik facility. The expected price of the SUV is likely to be between Rs 8 lakh and Rs 12 lakh (ex-showroom).
In the over all SUV volumes, the compact SUV segment currently accounts for about 60 per cent, according to M&M managing director Pawan Goenka. He added that the company looks to corner about 15 per cent market share of the segment with the new vehicle. Mahindra's Korean subsidiary SsangYong has sold over 2.6 lakh SsnagYong Tivoli in over 50 countries since its launch in 2015.
To help it tuck under four metres in length, XUV300 has been completely redesigned in front and rear profile. It also comes with 17-inch machine-finished wheels, just like Ford Eco Sport S. The car will come with standard safety features like dual airbags, rear disc brakes, rear parking sensors, Isofix child seat mounts and ABS with EBD.
The compact SUV segment has been growing at a compounded annual growth rate (CAGR) of 44 per cent over the last five years while the current market size its stands at around 35-40,000 vehicles per month.
"We have given some very advanced and unique features in our XUV300. So, within the compact SUV segment, we are going to position it as the premium product," Goenka told reporters, as cited by PTI. He said as of now the company does not have a very strong product in the compact SUV segment and XUV300 will fill this gap. "It is a fast growing market and we want to capture a sizable markets share out of the segment," Wadhera said.
Goenka said that the company plans to launch the new vehicle in one-two overseas markets as well along with its roll out in the domestic market. He also said that the company is working on the electric version of the new compact SUV, which is expected to hit the market in 2020.