Mahindra rolls out a new edition of Verito sedan; might try to benefit from dwindling shares of Maruti Suzuki

Friday 27 July 2012, 11:45 AM by

Mahindra & Mahindra (M&M), one of the India’s largest auto manufacturing companies, has introduced the 2012 edition of its Verito sedan in the Indian auto market. The new sedan is provided in both petrol and diesel versions within a price bracket of Rs. 5.27 lacs and Rs. 7.14 lacs (ex-showroom, Delhi). At the launch ceremony, the company officials also hinted at their future plans to expand their car portfolio in India.

On the launch of Verito, the Chief Executive (Automotive Division) of M&M, Pravin Shah quoted, “We have seen a significant jump in Verito sales and its volumes have tripled in the last two years. We sold 18,000 cars and, with the new refreshed car, we aim to outperform the industry in the current fiscal.”

Adding to the statement of Shah, President of M&M's automotive and farm division, Pawan Goenka said, “Functionally it's the same product with aesthetic improvements. The earlier styling was something that was disliked by consumers. The Verito was always a good product and fuel efficient; but its looks were not approved by consumers.”

In addition to the new launch, the auto maker is looking forward to introduce another sub 4-metre compact sedan, designed on the Verito’s platform, which will square off against the likes of Maruti's bestseller Swift DZire and the Hyundai i20 hatchback. With a compact version of Verito, the car maker will also benefit by lower excise duty, which is especially dedicated to the small cars. Although the company has not made any official statement regarding the launch of their compact sedan, analysts believe that the car will spark at the Indian auto industry in the last quarter of financial year 2013.

The earlier model of Verito was being produced at Mahindra’s Nashik plant, which has the potential to roll out 20,000 units annually. However, with the launch of a new model, M&M is looking forward to enhance the potential of its Nashik facility.

Observing M&M's strategy of breaking the cover of its 2012 edition Verito in the current situation, analysts believe that that auto maker is all set to take advantage from the closure of the Maruti Suzuki’s Manesar plant, leaving the largest car maker of India unable to meet the increasing demand of iconic DZire.

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