After huge success of its existing models like Scorpio and XUV 500, auto major Mahindra and Mahindra (M&M) is working on a new mass-market SUV and plans to position it as the lowest-price vehicle in this segment.
The company is currently working on 2-3 platforms for this new SUV, which it plans to launch beginning 2015 at a price even below that of Scorpio, senior executive Pawan Goenka told PTI in an interview here.
Goenka, Executive Director and President (Automotive and Farm Equipments) at M&M, was here for the World Economic Forum Annual Meeting, which was held from January 21-25.
Mahindra group, a $17 billion multinational group employing over 185,000 people in over 100 countries, is a major player in automotive business through its flagship entity M&M. Besides, it is also present across various other sectors including technology, aerospace, defence, financial services, hospitality, retail and real estate.
“If you look at journey of Mahindras, starting from Scorpio, we basically have pushed the envelope for making the mass market higher in terms of price,” said Goenka, who is known as father of the highly successful Scorpio.
Asked what next to expect from M&M in the Sports Utility Vehicle (SUV) segment, Goenka said, “When we started selling Scorpio at about Rs 6 lakh, there was no mass market product being sold at Rs 6 lakh.
“Nothing was sold more than few hundred units at Rs 6 lakh at that time and then we came and sold 3,000-4,000 Scorpios a month at that price,” he said.