Mahindra & Mahindra Ltd.

Mahindra & Mahindra, country’s largest utility vehicle maker is likely to introduce a hatchback on the Verito platform in the next month. The new vehicle - Vibe, will be priced at around Rs 6 lakh and will sport the same 1.5-litre Renault diesel engine that powers Verito. It will be less than four meters in length to attract lower excise duty of 12%. With this initiative, the company is exploiting the platform strategy to get additional volumes. The entity sells around 1,500 Veritos per month.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.