Indian automobile manufacturer Mahindra & Mahindra is planning to launch a sub 4 meter version of its Verito sedan in the Indian auto market in order to enjoy the excise duty benefits in the small car category and boost sales to surpass industry growth. The new smaller Verito will lie in the same segment as the new Swift DZire by Maruti Suzuki and Indigo CS by Tata Motors.
The company has witnessed good sales growth of 27 percent in the month of May 2012 in comparison to the rest of the auto industry. It also surpassed the sales figures of its rival Tata Motors in the month and expects better growth with new product launches including a compact SUV and a sub 4 meter VEriti sedan. Mr. Pravin Shah Chief Executive (Automotive Division) Mahindra & Mahindra stated that the new products will boost the company’s sales and enable higher growth in the 2012-13 fiscal.
The company’s sales growth is being attributed to a majorly diesel car portfolio which is favorable in the current scenario in the Indian auto industry where diesel fuel is cheaper than petrol fuel by almost Rs 30.
