Mahindra & Mahindra is revising its business strategy for the UV (Utility Vehicle) market. The company also plans to revamp its dealerships across the nations under a new concept – ‘World of SUVs’ that will represent its new theme. In this refurbishing process, the Mahindra Verito sedan and Mahindra Verito Vibe hatchback will be pulled off the shelves.
The reason behind this move is the poor demand of the models. The company sold only four units of the Verito Vibe hatchback in the last fiscal year. The Verito sedan, which was a successor to the Dacia Logan, witnessed a fall of 77 percent (from 3,136 units to 721 units) in FY2017. In the current financial year, the carmaker sold only 207 units of the Verito sedan. Besides this, the Verito sedan and hatchback aren’t compatible to the upcoming new BSVI emission norms and safety standards that will come into effect early next year. Read – Mahindra To Launch Three New Cars This Year
Speaking to a media publication, Rajan Wadhera, president, Mahindra, Automotive Division, said, “That was a product we came up with a long time ago and over a period of time it will fade away.” Read – Jeep Wants to Ban Mahindra Roxor in US, Here’s Why
Commenting on the same, Mahindra’s MD & CEO, Pawan Goenka said, “In the future our product portfolio will be BS-VI-compliant, which means we can discontinue the low-volume products. Other than that, the Verito has moved towards the e-platform and so the conventional products may not go beyond the BS-VI timeline.”
Talking about Mahindra’s new business strategy, the carmaker is planning to bring in three all-new products by the end of this year. While the two them (Marazzo MPV and XUV300 compact SUV) will see a release before 2018 festive season, the Rexton 7-seater premium SUV will come later. The company will also give a generation change to the XUV500, Scorpio and XUV500.
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