New Model Launches Performance - October 2021
New Model launches now form an extremely integral part of the OEMs strategy and a lot is dependant on the success of these models. Customers are attracted to the novelty factor offered by the new models and updated features make the overall deal even sweeter.
Almost 8 models were launched within the past year and SUVs have been the flavour of the season. SUVs recorded the highest YoY growth and is strongly backed by successful new model launches. We assess the sales performance of these new models in October 2021 and how they contributed to the respective OEM's performance.
Tata Punch contributed near to 25% of Tata Motors' dispatches in October 2021. It signifies the volume impact Punch is going to have in Tata's portfolio and the readiness of the OEM is clear. Tata Motors is expecting Punch to be one of their top sellers and the model has all the right ingredients for the same.
Mahindra wants to infuse a fresh lease of life in its portfolio with the XUV700 and has put all efforts to strengthen its hold in the SUV segment. The model has garnered tremendous interest among the buyers and has already received over 65,000 bookings! With dispatches of 3,407 units; the model contributed to 17% of Mahindra's volumes in Oct'21.
Magnite emerged as the savior for Nissan India and is single-handedly keeping the OEM buoyant. The model contributed to a staggering 87% of the OEM's sales and is slowly emerging as one of the all-time best sellers in Nissan India's portfolio.
Magnite's cousin Kiger has been faring well too and 2,643 units were shipped to the dealers in October 2021. However; Renault is still gaining more volumes from other models in the portfolio (Kwid & Triber).
VW Taigun & Skoda Kushaq have catapulted the VW/Skoda brands to jump the SUV bandwagon and are reaping the benefits accordingly. While Taigun contributed to 83% of VW's volumes in Oct'21; Kushaq alone contributed to 79% of the Czech brand.
Both Safari & Alcazar were launched in the 6/7-seater SUV segment and have been doing average volumes for the respective brands.