Compact SUV segment registered the highest YoY growth in October 2020. It grew a stupendous 60% in Oct’20 v/s Oct’19.
Almost all OEMs now have a presence in this segment. The segment grew rapidly in Oct’20 owing to Sonet & Urban Cruiser volumes. Nissan is now pinning its hopes in this segment with its upcoming Magnite.
Maruti is not going to make it easy either for Venue or Sonet – It did sell an impressive 12,087 units in Oct’20 and topped the segment.
Seems like Sonet has impacted Venue more than any other model in the segment. Venue’s volumes remained flat in Oct’20 v/s Oct’19.
The highlight was Mahindra XUV300’s volumes. The model recorded the highest YoY growth in segment and sold the highest volumes in past 16 months! It even outsold Ford’s Ecosport in Oct’20. Mahindra had reduced the XUV300 prices by upto Rs.72,000 and the strategy seemed to have worked well for the model.
