Utility vehicles major Mahindra & Mahindra (M&M) on Thursday said it has received over 13,000 bookings for its recently launched compact SUV XUV300. Launched on February 14, the model has entered the top three in the compact sports utility vehicle (SUV) segment in its first month, M&M said in a statement.
Currently, compact SUVs account for 40 per cent of all SUV sales in the country and is also the fastest growing segment over the last five years.
“In a highly competitive segment such as the compact SUV, we have received over 13,000 bookings and in the very first month itself, we have entered into the top three,” M&M Chief of Sales & Marketing Automotive Division Veejay Ram Nakra said.
This is in-line with company’s objective of achieving 15 to 20 per cent share of this segment and reaffirms the fact that the XUV300 proposition has resonated well with the customers, he added.
“What is also encouraging is that over 75 per cent of our bookings are for the top end variants of the XUV300,” Nakra said.
XUV 300 is priced between Rs 7.90 lakh and Rs 11.99 lakh and comes with both petrol and diesel powertrains.
It competes with the likes of EcoSport from Ford, Vitara Brezza from Maruti Suzuki and the Nexon from Tata Motors in the in the sub-4 meter SUV segment.