Mahindra and Mahindra (M&M) Limited, the country's favourite utility vehicle maker, is on cloud nine as its smallest product – Quanto compact Sports Utility Vehicle (SUV) has wrapped up bookings over 12,000 units, since its launch. The Indian auto major introduced Quanto in late September 2012 and in a little over two months; the stylish small utility vehicle has already become a mass puller for the company.
M&M witnessed an 18 per cent jump in its monthly vehicle sales at 48,143 units during November 2012 comprising sales on Indian turf and overseas exports, as compared to 40,722 units sold in the same month last year. A majority of sales for the company came from is XUV500 SUV and Quanto compact SUV, while flagship models like Bolero and Scorpio were witnessed with decent sales as well.
Reportedly, the country's leading utility vehicle maker recorded a 23 per cent jump during November 2012 in its domestic sales, with the numbers standing at 46,755 units. Taking into consideration, M&M's November 2011 sales figures that stood at 38,159 units, Quanto's popularity has returned big success for the company. Further, the Indian auto major witnessed a 38 per cent jump in its passenger vehicle sales at 24,604 units during last November, as against some 17,813 units sold in the corresponding month of 2011 calendar year.
Commenting on reasons behind impressive November 2012 sales figures witnessed in the domestic market, Pravin Shah, Chief Executive Officer (CEO), Automotive Division, Mahindra & Mahindra Limited, said, “The recently announced GDP numbers are in line with expectations and we do not foresee any immediate impact on the monetary policy. Till there is a decrease in interest rates for corporate or retail credits, financing rates will remain high for auto customers which is a cause of concern. However we expect interest rates to reduce during the last quarter of the current financial year.”
Further expressing his delight regarding the incredible success of company's smallest product – Quanto compact SUV among Indian car enthusiasts, Shah added, “We are happy to maintain our growth trend on the back of our portfolio of products especially the Quanto which has crossed more than 12,000 bookings in just over two months.”
At present, Mahindra Quanto is offered to Indian consumers between a price bracket starting from Rs. 6 lacs, which goes on till Rs. 7.6 lacs. The decent looking compact SUV is pitched against segment leader Renault Duster and Premier Rio in the domestic utility vehicle market. Both Duster and Quanto have stormed the Indian compact SUV scene and have compelled other auto majors to introduce their own products in the segment as well.
