Mahindra & Mahindra Aims for Top 2 in Compact SUV Segment

Nashik (Maharashtra), Apr 29 (PTI) Mahindra & Mahindra Ltd on Monday said it wants to be among the top two players in the compact SUV section in the next three years.

At the unveiling of its compact SUV here on Monday, M&M Executive Director and CEO for auto and farm director Rajesh Jejurikar also said that the company anticipates growth in the mid-to-high teens in its SUV volumes.

Earlier, M&M Ltd unveiled its compact segment SUV, XUV 3XO, at a starting price of Rs 7.49 lakh.

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 the next three years we want to be number 1 or number 2," he said.

Stating that this segment will also grow amid a rapidly growing SUV market, he said, "We are staying with the comment (that) we made in the last result call. In FY 25, we want to grow in the mid-teens."

"We have focus on products and waiting to get everything right on 3XO."

"That size is of six lakhs. We will have to look at incremental value,' he added.

The production capacity for this car has been pegged at 9,000 per month which, according to Jejurikan, can go up to 10,500 units a month with a small investment.

The entire project involved a cost of Rs 650 crore, according to him.

Conceptualised at the Mahindra India Design Studio (MIDS) in Mumbai, and engineered and developed at the Mahindra Research Valley (MRV) near Chennai, the latest offering has been built at its Nashik manufacturing facility in Maharashtra.

The bookings for XUV 3XO will open online and simultaneously at Mahindra dealerships from May 15, the company said while the deliveries of the XUV 3XO will commence will commence from May 26, it said.