India has a very popular hatchback market in terms of diesel vehicles. Indian auto giant Mahindra and Mahindra is now looking forward to enter the popular hatchback segment with its latest entrant known as Vibe.
The new Vibe will be built on the existing Verito platform and the diesel version is expected to be priced around Rs. 6 lakh. The details of the new vehicle were revealed by an industry source who was familiar with the development, but refused to be identified. The new vehicle will compete with the other hatchbacks like the Swift by Maruti Suzuki, the Hyundai i20 and the Volkswagen Polo.
The chief executive of the company Pravin Shah said, “The entry into the compact car segment gives us an opportunity to learn more about the Indian car market and expand the customer base.” The upcoming Vibe will have a 1.5-litre Renault diesel engine, which also powers the Verito. The length of the car is expected to be around four meters, so as to attract the lower excise duty of 12%, while the larger cars have to pay an excise duty of 24-27%.
After the company separated from Renault, Mahindra and Mahindra re-launched the Logan as the Verito in the month of April 2011.