Indian auto giant Mahindra and Mahidra has named its upcoming compact utility vehicle as ‘Quanto’. The new SUV will be launched in the Indian market during the second half of September 2012. The new vehicle will have a 4 meter length and will be the smallest SUV in Mahindra’s portfolio which is aimed at the buyers of diesel hatchback and the entry level sedan customers. The new ‘Quonto’ is based on the ‘Ingenio’ platform and will have a 1.5 litre diesel engine. Due to this it will enjoy the excise that of a small car. The official pricing of the vehicle has not yet been revealed but it is expected to be priced at Rs. 4.5 lakh and 5.5 lakh. The launch of the new compact SUV is coming at a time when many of the hatchback users are looking forward to upgrade to SUVs instead of the sedans. Pawan Goenka, the president automotive and farm equipment sector said, “With the Quanto, Mahindra is aiming to fill a need gap in the Indian automotive market for a versatile and compact SUV. We are confident that with its unique value proposition, the Quanto will carve out a segment for itself in the market. So Quanto will be a prospective candidate for many of the hatchback buyers.