Mahindra & Mahindra Limited, the country's leading utility vehicle manufacturer, has developed a new hatchback Vibe for the domestic passenger car market. The company would enter the heavily competitive Indian hatchback market for the first time, in order to capitalise on the impressive sales recorded by this segment. The Mahindra Vibe shares the same platform of its Verito sibling and is expected to be launched in the country during the first week of June 2013.
As per reports, the upcoming Mahindra Vibe is going to be a premium hatchback and could challenge the likes of Maruti Suzuki Swift, Hyundai i20 and Ford Figo models in the domestic car market. The Vibe would also offer stiff competition against Volkswagen Polo, Nissan Micra, Fiat Punto, Renault Pulse, Tata Indica Vista D90 and Honda Brio in the country. This would be interesting to note as the company has no prior experience in the hatchback segment of Indian auto market, which is dominated by Swift and i20 at the moment.
As per industry sources, the Mahindra Vibe could carry introductory price tags around Rs. 5 to 6 lakh, upon its arrival in the Indian auto market. The company has remained tight lipped so far about Vibe's pricing, but the premium hatchback is expected to mark the beginning of another successful chapter for Mahindra in the country. Speaking his mind on the yet-to-be launched Vibe, Pravin Shah, Chief Executive Officer (CEO), Automotive Division at Mahindra & Mahindra Limited, was quoted as saying, “The entry into the compact car segment gives us an opportunity to learn more about the Indian car market and expand the customer base.”
Under its hood, the upcoming Mahindra Vibe hatchback would be powered by the 1.5 litre Renault diesel engine, which also powers the Verito sedan. The Vibe is going to be sub-4 metres in length that would allow it to enjoy lower excise duty of 12 per cent. At present, cars over 4 metres in length have to pay higher excise tax at 24 to 27 per cent.
Currently, Maruti Suzuki Swift and Hyundai i20 are the best selling products in the premium hatchback segment, owing to their top draw performance and market image. The Swift boasts of a refined engine performance in terms of power and mileage, whereas i20 has set a benchmark of its own in terms of looks, premium interior setting and high end features. The yet-to-be launched Mahindra Vibe would have to offer a complete package, in order to catch the attention of domestic car buyers. Industry experts believe that strong engine performance and competitive pricing, coupled with Mahindra brand name could play the perfect mix for making Vibe a success in the Indian auto market.
