Mahindra bets big through launch of compact SUV TUV300

New Delhi: Mumbai-based Mahindra and Mahindra is all set to launch its latest compact SUV, named the TUV 300, in the domestic market. Being a late entrant in the SUV segment, the Mahindra TUV 300 is expected to be priced between 6.5 lakh to 9.5 lakh. The TUV 300 will be manufactured at the company’s plant situated in Chakan, Maharashtra. In the last one year, the utility vehicle segment saw a continuous decline in the growth volumes in the segment with Ford Ecosport and Renault Duster taking charge in the market. Mahindra and Mahindra suffered major decline in the utility vehicle segment due to poor rural demand. The situation exacerbated when the company did not have any new product in the compact SUV segment which currently constitutes 40 percent of the total volumes in the utility vehicles segment.