The SUV segment in the auto sector is in boom and many new models are being introduced by various auto companies in India this year. The Indian auto leader Mahindra & Mahindra is also all set to launch one more SUV in the auto market. But this time the model is Korando which is based on South Korean technology.
The company has already some big hit SUVs in its kit and now one more SUV is going to add. However, the new SUV will be added in the FY2016. Basically the model is developed by the SsangYong Motors, which is a South Korean auto manufacturer. The Mahindra & Mahindra has taken over the SsangYong Motors and hence the model is now known as Mahindra Korando. The production of this SUV is still going on in SsangYong Motors in South Korea only.
According to the auto market experts the Korando is an excellent model and as it is loaded with a number of features it is much capable to beat any SUV model in the Indian market. The introduction of this model to Indian market will surely strengthen the company position in the competition of the SUV and it will also help the company to improve market share. The pricing of this model is expected to be between 9.5-10 lakhs for basic models and the premium models will be ranging between 12.5-13 lakhs. The Renault duster will be the closest rival of this model in the Indian market.
Presently M&M has a 72 % stake in the South Korean company Ssangyong Motors. The Korando C holds 52% of Ssangyong Motors’ total export units of vehicles. Hence, with the help the Ssangyong Motors the M&M have best vehicles available to rock the Indian market. In the year 2014, the SsangYong Motors had exported around 37,863 units and the models produced by it had got overwhelming response in the foreign market.
So far as M&M is concerned, it has 30-40% sales registered from the SUV segment only. As in the last few months the company did not come up with any new SUV model its market share has reduced by 40% as during this period other companies had released their new models in the SUV segment. The company holds strong command on the diesel engine models as well as SUV segment. The decision by the company is also based on thorough analysis of business opportunities and the Korando will surely prove a lethal weapon for rivals from the company to regain the market share. The model can be exported to other countries such as Myanmar, Bangladesh and ASEAN. The Russia is also a big overseas market of the SsangYong Motors and therefore the Korando can play a vital role to have a firm position in the auto sector in Russia.
No doubt there is still much time left for the launching of this model in India, but it will surely rule the Indian market in coming days.