Mahindra & Mahindra, the country’s largest Utility Vehicle (UV) maker, has reported 5000 bookings of its compact Sports Utility Vehicle Quanto in just three weeks since it launched. With its new model, the auto maker has targeted the buyers of premium hatchbacks and entry-level sedans. The recently launched compact SUV has been aggressively priced between Rs. 5.8 and Rs. 8 lacs, which enables it to cash on the increasing demand for UVs in the Indian auto industry. It must be noted that the segment is growing at a rate of over 20 per cent, which has helped M&M to increase its market share by introducing some of the decent launches.
The Chief Executive of Automotive Division, M&M, Pravin Shah said, “This response strengthens our belief that Quanto will be able to create a new category within the SUV segment with its unique value proposition. This gives us the confidence that the customers appreciate the Quanto's distinctive looks, flexible 5+2 seating & go anywhere capability.”
Besides, the UV maker is also planning to start the exports of its compact SUV in the auto markets of South Africa, Chile and Europe. Reportedly, the model will follow the footsteps of Mahindra XUV500, which was recently introduced in Italy.
