Auto manufacturer Mahindra and Mahindra is looking to enter the small car segment in the Indian market. The company has now launched its new compact hatchback Verito Vibe, which is the second car offering in a segment which, at the moment, is dominated by Maruti Suzuki’s Swift.
The new Verito Vibe will be available in the Indian market for Rs. 5.63 lakh to Rs. 6.49 lakh, excluding Octroi. The new vehicle has been developed with an investment of Rs. 60 crore on the popular Renault’s Logan platform. About 80 percent of the Verito Vibe’s parts are common with its elder sibling Verito sedan.
The car will be available in the 1.5-litre diesel option only, while the company claims that the Verito Vibe has a look of a hatchback but is offering features and space of a sedan. With the new Vibe hatchback and the Verito sedan, Mahindra and Mahindra will be servicing the one-million unit compact car space.
With the latest hatchback, the company intends to take over the market share from Maruti Suzuki’s Swift, Swift DZire and Honda Amaze. The company also says that in terms of pricing, the Verito Vibe is Rs. 40,000 cheaper than Maruti Suzuki’s Swift.