Utility vehicles segment sees healthy growth: M&M

Home grown auto major Mahindra & Mahindra is eyeing a good response from the market to its recently launched compact SUV TUV300 on the back of growing demand in the utility vehicle segment.
"In 2011-12, the Utility Vehicles contribution to the passenger vehicle segment was 15 per cent, which rose to 23 per cent in 2014-15. Even though the passenger car segment has remained stable or has even gone down, the trend towards utility vehicles has been gaining ground," company's Vice President-Sales Automotive Division-Jyoti Malhotra told reporters here today.
Speaking on the sidelines of launch of the TUV300 in Chandigarh, Malhotra said that as present society is very aspiration-driven and there was growing "aspirational class" of customers within our society, who are looking for more features and better quality, yet at the same time "affordability quotient" remains their key concern.

He also said in the overall market, the growth in the industry is "being driven by new launches".
"Available at Mahindra dealerships across India, the TUV300 price starts at Rs 7.12 lakh, ex-showroom Chandigarh for the T4 variant (with top-end variant priced at just over Rs 9 lakh). The vehicle's inspired by the design of a battle tank, its bold and stylish look, its imposing bumpers, together with lots of features and comfort on the inside, that will make anyone want to own it," he said.
He also said that the vehicle has got plenty of safety features including toughened high strength steel body, 3rd generation crash-worthy chassis, dual airbags, ABS, Corner Brake Control to maintain driver-intended path during braking while turning.

"We also call it a Tough Utility Vehicle and it already meets the safety features which will come into play for the manufacturers from October 2017," Malhotra said, adding TUV300 is powered by the advanced 1.5 litre mHawk80 diesel engine.

He said as the vehicle is inspired by the design of a battle tank, customers will also be given the choice to buy accessories like "bonnet scoop" at nominal extra cost that will enhance TUV300's "bold look".
Among other vehicles, TUV300 will take on the likes of Ford EcoSport and Renault Duster that are priced between Rs 7.88 lakh and Rs 13.54 lakh (ex-showroom Delhi).

M&M's forte has been in the bigger Utility Vehicles segment, with models such as the Scorpio and XUV500.