Mahindra launched the XUV300 in Feb’19 and a lot is riding on this model to cement M&M as the third biggest OEM in the Indian market for FY20 (Apr’19-Mar’20). M&M sold an impressive 4,484 units in the first month of the launch itself and overtook the likes of Ford’s Ecosport & Honda’s WRV. It was able to repeat the feat in Mar’19 and sold a staggering 4,742 nos which was much higher than the sales of Ecosport (4,241 nos) & WRV (2,552 nos). However; a spurt is seen in Nexon’s sales and the model has now continuously sold >5k units for three months in a row! Post the announcement of 5-star safety rating in the NCAP tests; Nexon’s acceptability has shot up significantly and the same is seen in its sales volumes.
We have compiled the sales figures of the Compact SUVs (<4 meters) and is as shown –
- The overall segment grew by 6% YoY and was supported by additional volumes from XUV300 this year.
- Nexon has shown an impressive sales growth and grew 27% YoY which was highest in the segment! Looks like people are now considering ‘Kitni Safe Hai’ seriously.
- Brezza continues its success run and sold over 14k units. Such kind of volumes with only Diesel option is unbelievable and only Maruti can do it!
- WRV is slowly being pushed down the table and it recorded a de-growth of -42% YoY. Similar fate being experienced by the TUV300 too and the model is just not able to compete with its sibling XUV300.
With Hyundai launching the Venue in May’19; the competition is going to be even more intense and cut throat. We expect the overall segment to grow double digit this year and give the required volume boost to its respective OEMs.