The exports of the Quanto will reach to neigbhouring countries such as Bangladesh, Nepal and Sri Lanka besides South Africa to begin with, which would be followed by Europe and Latin America, M&M president for automotive & farm equipment sectors Pawan Goenka said after the launch.
"The Quanto which is our first compact SUV, will create a new category within the SUV segment," he said, adding the Mahindra is aiming to sell around 200 units a month initially.
The under 4-meter Quanto price starts at Rs 5.82 to Rs 7.36 lakh, and has been based on the Ingenio platform, which is the same as the one for the Mahindra Xylo.
The company has invested Rs 100 crore in developing the five-seater Quanto, Goenka said, adding the new car will be produced at its Nashik facility.
M&M has a combined capacity of 7,000 units for the Xylo and the Quanto, he said. Quanto will face competition from recently launched Renault Duster by Renault in the compact SUV segment.
The French auto major has priced the Duster between Rs 8.35 and 11.8 lakh. All the Quanto variants are powered by a 1.5 litre mCR100 diesel engine giving an output of 100 bhp.
Dr Pawan Goenka, President, Automotive & Farm Equipment Sectors, Mahindra & Mahindra Ltd. said, "The launch of Quanto, our first compact SUV, is another defining moment in our automotive journey. For the Mahindra Group, the Quanto represents yet another example of our alternative thinking approach. It has been developed keeping in mind the evolving needs of our customers. I am confident that the Quanto will create a new category within the SUV segment while offering a unique value proposition to our customers".
M&M also plans to launch Rexton sports utility vehicle and Mahindra Reva NXR electric car ahead of the forthcoming Diwali festival.
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