Mahindra’s XUV 3XO clocks 50k bookings in 60 minutes

The sharp contrast in the interest generated by the two models comes despite Swift dominating Indian roads for nearly two decades.
Mahindra & Mahindra’s (M&M) recently launched compact SUV, the XUV 3XO
Mahindra & Mahindra’s (M&M) recently launched compact SUV, the XUV 3XO

NEW DELHI: Highlighting the ever-increasing shift of consumers towards sports utility vehicles (SUVs), Mahindra & Mahindra’s (M&M) recently launched compact SUV, the XUV 3XO, clocked 50,000 bookings in only 60 minutes, outpacing bookings received new Maruti Suzuki’s fourth generation Swift hatchback by a wide margin (just 10,000 booking in 10 days).

The sharp contrast in the interest generated by the two models comes despite Swift dominating Indian roads for nearly two decades. The XUV 3XO predecessor, the XUV 300, on the other hand, was not even among the top three brands in its segment.

“We are immensely proud to announce that the XUV 3XO has received 50,000 bookings shortly after opening, which is a testament to the trust our customers place in us. Such overwhelming market response reaffirms our commitment to innovation and delivering value beyond expectations,” said Veejay Nakra, President - Automotive Division at M&M.

The SUV major on April 29 had launched the XUV 3XO, with prices ranging from Rs 7.49 lakh – Rs 15.49 lakh. Maruti Suzuki had last week launched the new Swift at a starting price of Rs 6.49 lakh, which goes up to Rs 9.64 lakh.

The SUV segment continues to dominate India’s passenger vehicle (PV) market. SUV sales in India grew by 28% in FY23-24 and its share in the total PV sales grew from 43% in FY22-23 to 50.4% last fiscal. Mahindra leads this segment while Maruti Suzuki came in at second spot on the back of multiple new launches. The market share of hatchbacks, however, has plummeted from 47% to 28% over the last 5 years with only a few carmakers showing enthusiasm to introduce new products.

Maruti Suzuki, which has a 62% share in the declining segment, last week said that it expects annual sales of premium hatchbacks to surpass 10 lakh units by 2030, up from about 700,000 units currently.

The carmaker believes that as car penetration is expected to grow rapidly in India over the next few years, the affordable hatchback will play an important role among first-time buyers.

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