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Friday, March 7, 2008

Logan overtakes City, Verna and SX4 in Feb7 Mar, 2008

NEW DELHI: Utility vehicle major Mahindra & Mahindra’s (M&M) foray into the sedan segment is bearing fruit. It sold 2,753 units of Logan in February, claiming the second position in the segment, leaving behind its traditional mid-segment rival sedans like Honda City, Hyundai Verna and the Maruti Suzuki SX4.

Tata Motors’ Indigo sedan became the highest seller with sales of around 3,322 units in February on account of huge demand of its compact sedan launched in February, which avails concessional excise duty. It is priced at Rs 4.3 lakh, the lowest for any sedan, which had pushed its demand and sales last month. Honda had sold 2,310 units of City, Hyundai has sold 2,132 units of Verna while Maruti Suzuki has sold 1,953 units of SX4 in February.

Logan, after successive pricing and re-positioning in the market, now comes for Rs 4.5 lakh for petrol and Rs 5.75 lakh for diesel variant. According to analysts, it has posted a stronger performance due to high demand in commercial fleet operations and customers upgrading from the premium hatchback segment.

Mahindra Renault managing director Rajesh Jejurikar told ET, “Logan’s application in commercial fleet operations is a big booster for us. It has helped us to give the highest numbers since its launch. We have given the customers the options to own a big car at the price of a hatchback, which has been accepted well. Logan is emerging as a strongest contender in the mid-size car segment. There is huge a demand for the diesel variant which forms around 65% of our total sales due to its high fuel efficiency and now comes with a waiting period in some markets.”

The company had sold more than 22,500 units of Logan, since its launch in May last year. While it has ruled out any hatchback or a compact variant (under 4-metre length like the Indigo sedan) which is now taxed at concessional 12% excise (after the budget), against 24% for all other sedans, it will soon be launching a new brand campaign for Logan.

“We shall be informing the customers of the high-quality of this international car and its phenomenal fuel efficiency. With one of cheapest sedan, we are looking at significant increase in the market-share in the mid-size car segment,” Mr Jejurikar said. Logan’s improved sales in February increase the company’s market share to 16.8% against January’s 12% in mid-size car segment. The company fared well on its flagship model Scorpio too.

Source: The Economic Times 7th March 2008.

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