Developed and designed in-house with R&D conducted at the Mahindra Research Valley in Chennai, Mahindra TUV300 is produced at the company facility in Chakan. Competing with a host of SUVs in the country that include Ford EcoSport and Renault Duster besides crossovers such as Toyota Etios Cross, Hyundai i20 Active and Fiat Avventura, Mahindra TUV300 has seen immense response among buyers thereby allowing the company to regain its dominance in this segment.
Maruti S-Cross and the Hyundai Creta launched earlier this fiscal had brought down Mahindra and Mahindra market share to 29.8% in August as against market share of 41.2% the company commanded in April this year. Following launch of Mahindra TUV300, market share of the company has once again bounced back to 39% in October even as companies such as Toyota and Hyundai have seen market share dip marginally.
Mahindra and Mahindra have confirmed steady sales of the TUV300. While between September 10 (date of launch) and the end of October, the company had around 12,800 bookings, orders continue to flow in at around 5,000 units per month. Once domestic markets are stabilized, the company will embark on exports even as some export markets have already been identified.
Mahindra hopes that this performance where the TUV300 is concerned will continue well into the future and not follow the same path as some of its other products which began on a promising note and slowed down with time. To keep the momentum going, Mahindra has plans to launch newer cars, starting with the S101 in January 2016.