The brisk sales of the XUV300 is good news
for M&M as it had been ceding ground to multinationals over the past few years owing to the lack of a formidable challenger. M&M had previously attempted cracking the segment with the TUV300 and KUV100.
Four out of every 10 SUV sold in India is a compact SUV.
With the new offering, M&M has seen a new buyer profile of younger customers and first time buyers entering its showrooms, Veejay Nakra, senior vice-president, sales and marketing at M&M, said. “Getting working professionals into the showroom is a change from what typical M&M customers are,” said Nakra. “What is also encouraging is that over 75 per cent of our bookings are for the top-end variants of the XUV300.”
The brisk booking volumes come at a time when the broader passenger vehicle market has been muted. Passenger vehicle sales in India dropped 1.11 per cent to 2,72,000 units in February over the same period a year ago. Utility vehicles sales during this period rose to 3.70 per cent to 83,245 units against the same period a year ago.
The XUV300’s booking numbers also makes the face-off between the arch-rivals — M&M and Tata Motors — for a bigger pie in India’s competitive SUV segment interesting. A Tata Motors spokesperson said Tata Harrier, launched in January, had received bookings of more than 10,000 units.