April 11, 2013: Indian Automaker Mahindra & Mahindra is all set to launch its new hatchback car ‘Vibe’ next month. Built on the Verito platform, according to reports the diesel version of Mahindra Verito Vibe will be priced at around Rs.6 lakhs. Verito Vibe will be having the same 1.5 lt Renault diesel engine that powers Verito and will take on Maruti Swift, Volkswagen Polo, Chevrolet Sail, Etios Liva and Hyundai i20.
The hatchback will be less than four metres in length to attract the advantage of lower excise duty. Mahindra & Mahindra is known for its utility vehicle business which accounts for nearly 45 per cent of the company’s sales and with the launch of Verito Vibe the industry experts feel that M&M is trying to de-risk its utility vehicle business. In the words of Pravin Shah, chief executive, automotive, M&M, “The entry into the compact car segment gives us an opportunity to learn more about the Indian car market and expand the customer base.”
M&M would be looking forward to increase its volumes with the launch of Verito Vibe. by exploiting the platform strategy which is now followed by most of the automobile companies now as it requires comparatively less investments.
