Homegrown auto major Mahindra & Mahindra (M&M) on Thursday launched compact SUV TUV300 at an introductory price starting at Rs6.9 lakh (ex-showroom Pune), as it aims to strengthen its market share in the utility vehicles segment.
TUV300, which comes only with a diesel engine, is priced up to Rs9.12 lakh for the top-end variant which showcases the AMT (auto gear shift) technology.
“The TUV300 embodies Mahindra's tough and rugged DNA which makes me confident that it will be a brand creator in its segment and find favour both in India and globally,” M&M Group Chairman Anand Mahindra told reporters here. TUV300 will take on the likes of Ford EcoSport and Renault Duster that are priced between Rs7.88 lakh and Rs13.54 lakh (ex-showroom Delhi).
Besides, it will also compete with compact crossovers such as Toyota Etios Cross, Hyundai i20 Active and Fiat Avventura, which are priced in a range of Rs6.23 lakh and Rs8.89 lakh (ex-showroom Delhi). Commenting on the production capacity, M&M Executive Director Pawan Goenka said the company has the capacity to produce 5,000 units of TUV300 a month.
“Production capacity can be further enhanced depending upon the market demand,” he added.
Asked if the company plans to launch a petrol version of the vehicle, Goenka said, “We are developing 1.2 litre (model) with Ssangyong which will debut this fiscal. In the next 3-5 years, all the models we launch would have petrol engine option.”