New Delhi, Jul 28: Mahindra & Mahindra has launched all-new version of its ‘Verito' sedan.
The new version is available is available in both petrol and diesel versions and the price varies between Rs 5.27 lakh and Rs 7.14 lakh (ex-showroom, Delhi).
The new Verito is dearer by Rs 7,000 to Rs 19,000 across different variants over the earlier phased-out model. It will compete with Maruti Suzuki's DZire, Toyota Kirloskar Motor's Etios and Ford's Classic sedan.
"We have seen a significant jump in Verito sales and its volumes have tripled in the last two years. We sold 18,000 cars and, with the new refreshed car, we aim to outperform the industry in the current fiscal," said Mahindra chief executive (automotive division) Pravin Shah.
"Functionally it's the same product with aesthetic improvements. The earlier styling was something that was disliked by consumers," added Pawan Goenka, president of M&M's automotive and farm division. "The Verito was always a good product and fuel efficient; but its looks were not approved by consumers," he added.
M&M has an annual capacity to produce 20,000 Verito at its plant at Nashik in Maharashtra; the company will enhance the capacity with the launch of the new car. The company is also augmenting output of its blockbuster sports utility vehicle (SUV), the XUV500 at its Chakan plant to 5,000 units a month by September-October from the current levels of 4,000 units per month.
"As of now the waiting period for the XUV500 is two to four months; the expanded production will help us reduce waiting for customers," Shah said.
