Will the surging demand for new compact SUVs give a new charge to the UV segment and in turn India's passenger vehicle market in FY2020? From a couple of company announcements in the past few days, it looks just like that albeit it would be wise to wait to see the real-world bookings to purchase ratio.
May 2, the first day of bookings for the recently revealed Hyundai Venue, the Korean carmaker's first compact SUV in India, saw Hyundai Motor India announce receipt of 2,000 bookings. Since then it has received another 2,000 bookings.
Now, Mahindra & Mahindra (M&M) has announced that bookings for its new compact SUV – the XUV300 – have crossed the 26,000 mark since the vehicle’s launch on February 14, further claiming that it is the second-highest selling sub-4-metre SUV brand in April 2019 in India. The XUV300 is available with a 1.5-litre diesel and a 1.2-litre turbo-petrol engine. Key rivals to the XUV300 include the Maruti Suzuki Vitara Brezza, the Tata Nexon, Ford EcoSport and Mahindra’s own TUV300 compact SUVs.
M&M says the XUV300, which is priced from Rs 790,000 going up to Rs 11.99 lakh for the top-spec variant, has resonated well with consumers across the country, especially across the metros and urban markets. Of the four variants – W4, W6, W8 and W8 (O) – the top-end W8 (O) variant priced between Rs 11.44 lakh to Rs 11.99 lakh has seen the maximum demand and accounts for 70 percent of the overall bookings. Mahindra further claims that the petrol variant, equipped with a 1.2-litre turbo-petrol continues to gain traction and now accounts for a substantial share of XUV300 sales.
As per Autocar Professional's estimate, till end-March 2019, the XUV300 has sold a total of 9,532 units comprising 6,788 diesel and 2,744 petrol variants. April sales numbers are yet to come.
Commenting on the bookings, Veejay Ram Nakra, chief of sales and marketing, Automotive Division, Mahindra & Mahindra said, “We are thrilled with the XUV300 receiving over 26,000 bookings in just over two months since its launch. Consumers are finding the XUV300 to be an exciting and comprehensive package that offers thrilling performance, first-in-segment safety features and head-turning design, which is reflected in these impressive booking numbers. It is also encouraging to see that a substantial number of bookings are for the petrol variant. As a customer-centric organisation, we are constantly working to keep the waiting period at a minimum and to get our customers their XUV300s as soon as possible.”
The Mahindra XUV300 is based on the SsangYong Tivoli’s X100 platform, which has been modified and altered to fit within the crucial sub-four-metre length. That said, the XUV300 is still the widest compact SUV on sale and also has the longest wheelbase in its class.
Powering the XUV300 is the same 1.5-litre diesel engine that debuted in the Marazzo MPV, developing maximum power of 117hp and 300Nm of torque, along with a 1.2-litre turbo-petrol engine that puts out 110hp and 200Nm of torque. The Mahindra XUV300’s fuel efficiency figure is pegged at 17kpl for the petrol variant and 20kpl for the diesel variant. Both engines are mated to a six-speed manual gearbox for now, with an AMT set to be introduced in the XUV300 in the months to come.
Also read: Hyundai Venue targets India's booming compact SUV market
How India's UV makers fared in FY2019
PV makers record double-digit sales decline in April 2019