Mahindra Verito, Verito Vibe face the axe
3rd Aug 2018 8:00 am
Mahindra to continue to sell the e-Verito; has decided to focus on SUVs following its new World of SUVs theme.
Mahindra has long since established itself as a utility vehicle-maker and the company wants to further build on this strength. The company is determined to re-focus on UVs and is in the process of adopting a new concept called ‘World of SUVs’ for all its dealerships, which are being renovated to reflect this theme.
The Verito sedan and Verito Vibe hatchback will face the brunt of the company’s latest strategy as they are Mahindra's only non-UV offerings. Hence, these models will eventually be phased out of the brand’s product line-up. Additionally, neither model has been a money-spinner and the company has no plans to ready them to meet BS-VI emission norms.
Rajan Wadhera, president, Mahindra, Automotive Division, spoke about the Verito duo, saying, “That was a product we came up with a long time ago and over a period of time it will fade away.” To add to it, Mahindra’s MD & CEO, Pawan Goenka said, “In the future our product portfolio will be BS-VI-compliant, which means we can discontinue the low-volume products. Other than that, the Verito has moved towards the e-platform and so the conventional products may not go beyond the BS-VI timeline.”
Passenger cars will be a part of Mahindra’s future, with the company already having announced plans to build high-end cars under the Pininfarina brand. However our company sources claim that with the SUV segment booming and with EVs likely to play a major role in the near future, the chances of an internal combustion Mahindra sedan are between slim to none.
The Verito was a successor to the Logan – a product of the Mahindra-Renault alliance. It had never been a fast-moving product for Mahindra; and over time, its sales have seen a drastic drop. In the last fiscal year, Verito volumes dropped down by a significant 77 percent – to 721 units from 3,136 units in FY17. Even in the first three months of the current financial year (April-June), Mahindra sold just 207 units of the Verito.
Moreover, the Verito Vibe – which is a sub-4m derivative of the Verito – has become even more vulnerable as the company hasn’t produced a single unit of it this year and sold merely four units in the last fiscal.