Popular Japanese automobile manufacturer Nissan Motor held an event in Mumbai, wherein it showcased the 'redesigned' compact Sports Utility Vehicle (SUV), the Terrano. The event, attended by media persons and top company officials, invoked a lot of enthusiasm and excitement. According to reports, Nissan has been undeterred by the sluggish pace of the market and is seeking to gain a stronghold in India by launching new cars. Earlier in 2013, the Japanese auto maker introduced the new Micra and the Micra active. With the launch of the Nissan Terrano, the firm will hope top cash in on the increasing demand in the compact SUV segment.
Nissan, in a statement, said, "The Terrano will play a key role in boosting Nissan's sales volume in India and marks the company's entry into the expanding compact SUV segment." Industry expert believe that the launch of Terrano, although risky, might turn out to be a good decision by the Japanese car maker. This premise can be backed by the kind of rise the compact SUV segment has had in the Indian car market. Also, a source close to this development says that the firm is relying heavily on this car to generate a tremendous response.
It must be noted that the sales of SUVs in the Indian auto market for July 2013 fell by around 17.5 per cent. However, the compact SUV segment is one of the few sections of the market that are performing well during times that are otherwise quite torrid. Analysts believe that the coming future is going to be bright for firms that manufacture compact SUVs, which can be seen as a good sign for Nissan. The recently launched Ford EcoSport has done remarkably well, surpassing all expectations and anticipated demand levels. Vinay Piparsania, the Executive Director of Marketing, Sales and Service at Ford India, spoke in an interview about the performance of the EcoSport. According to him, the SUV has "exceeded our expectations and we are witnessing an unprecedented demand for the EcoSport."
Ford EcoSport was launched in the month of June this year and since then, it has been performing really well, generating high sales volumes. Industry experts feel that Ford's aggressive pricing strategy for the EcoSport, which starts at Rs. 5.59 lakh, has boosted its viability in the market. The Ford EcoSport has managed to provide tough competition to the Renault Duster, which has a starting price of Rs. 8 lakh. As per the data revealed by Society of Indian Automobile Manufacturers (SIAM), around 4715 units of the Ford EcoSport were sold in the month of July, which helped the firm to increase its sales by 26 per cent. On the other hand, French auto maker Renault recorded sales of 3763 units in July, out of which 3089 were of the Duster.
Nissan, with the launch of the Terrano, will be hoping to replicate the success of the likes of the Duster and EcoSport. Officials from the company believe that the enhanced styling of Terrano is likely to catch the attention of buyers in India. Also, being positive for the Japanese auto maker, the market for compact SUV is slated to grow tremendously over the next two years, according to a report.
