Mahindra & Mahindra, the country’s second largest utility vehicle maker, is placing a bold bet on an allnew multi-purpose vehicle this festive season, as it aims to accelerate volume growth and regain lost share in the highly competitive yet growing market.The timing is critical since some of the people movers, or MPVs, launched in recent times have failed, as buyers prefer more stylish SUVs over more-boxy MPVs. Senior executives at Mahindra, however, declined to term the new vehicle, named Marazzo, as an MPV, claiming it to be an attractive-looking crossover utility vehicle.Designed and developed with an investment of ₹1,000-1,500 crore, the Marazzo is a 7-8 seater based on an all-new architecture and will be manufactured out of the company’s Nashik factory.The vehicle has been engineered by Mahindra’s North America Technical Centre in partnership with its local R&D centre, MRV, with design cues from Italian design house Pininfarina. The Marazzo’s design language, the company said, has been inspired by shark.“It won’t be like boring-looking MPVs. We are sure that it will pull prospective buyers of sedans and SUVs,” Rajan Wadhera, president of the automotive sector at Mahindra, told ET. “It is one of the important products for the year, which will help us build volumes and grow in double digits for FY19."The MPV segment has shrunk over the last few years, with monthly volumes almost halving to about 12,000 units in 3-4 years. The Maruti Suzuki Ertiga and Toyota Innova Crysta are the top two MPVs in the market with decent monthly volumes of 4,000-6,000 units.The company has guided vendors for annual volumes of 40,000-50,000 units, said people in the know. This would mean a monthly volume of 3,500-4,000.
from The Economic Times https://ift.tt/2vnW7dT
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