Mahindra & Mahindra Ltd, a leading player in the automotive industry, has unveiled its ambitious plan to emerge as one of the top two players in the compact SUV segment within the next three years. This announcement comes as the company aims to capitalize on the growing demand for compact SUVs and strengthen its position in the competitive automotive market.
At the unveiling of its latest offering, the compact SUV XUV 3XO, M&M Executive Director and CEO for auto and farm, Rajesh Jejurikar, expressed confidence in the company’s ability to achieve significant growth in its SUV volumes, anticipating mid-to-high teens growth in the coming years.
Jejurikar highlighted the importance of the sub-four-metre compact SUV segment, stating, “In the sub-four-metre compact SUV monocoque, which is a direct relevant segment for the company, out of six lakh, we are number 5 in the segment and in the next three years we want to be number 1 or number 2.” He emphasized the company’s commitment to becoming a dominant player in this segment through strategic product offerings and market expansion initiatives.
The newly unveiled XUV 3XO, priced competitively starting at Rs 7.49 lakh, is poised to make a significant impact in the compact SUV market. With a production capacity of 9,000 units per month, expandable to 10,500 units with minimal investment, Mahindra aims to meet the growing demand for its latest offering.
The development of the XUV 3XO involved an investment of Rs 650 crore, underlining Mahindra’s commitment to delivering high-quality and innovative products to its customers. Conceptualized at the Mahindra India Design Studio (MIDS) in Mumbai and engineered at the Mahindra Research Valley (MRV) near Chennai, the XUV 3XO reflects the company’s focus on design excellence and technological innovation.
Bookings for the XUV 3XO will open online and at Mahindra dealerships from May 15, with deliveries scheduled to commence from May 26. This marks an important milestone for Mahindra as it seeks to expand its presence in the compact SUV segment and reinforce its position as a key player in the Indian automotive market.
With its ambitious growth targets and strategic investments, Mahindra & Mahindra is poised to emerge as a formidable force in the compact SUV segment, driving innovation and setting new benchmarks for excellence in the automotive industry.
