Mahindra & Mahindra Limited on Friday launched Verito Vibe compact sedan in Hyderabad with a starting price of Rs 5.63 lakh ex-showroom for its D2 BS4 model.
The company expects the new compact car "with lots of space" to stir up interest in the automotive market. The compact car segment accounts for over one million sales per annum, including about 2.3 lakh vehicles in the super compact segment.
The automotive company Mahindra has capacity to produce about 3500 units per month on the Verito platform at the Nasik plant and expects higher capacity utilisation with the launch of Vibe, Arun Malhotra, Chief Sales, Customer Care Officer, Automotive Division, M&M, said.
The company has been averaging sales of about 1000 Verito sedans per month.