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Mahindra Halts Production Of Its Hatchback Due To Poor Vibe
Mahindra has halted the production of its Verito Vibe due to poor demand in the market. The hatchback variant of the Verito has been struggling in terms of sales in the current financial year. The Verito Vibe was the only small car from the utility vehicle manufacturer.
The production of the Verito Vibe has not taken place in this financial year and is reported that Mahindra was able to sell only 32 units in the first five months of this fiscal. The company sold 619 units of the Verito Vibe last financial year.
Mahindra has insisted that it has neither discontinued or plans to do so of the Verito Vibe; however, the production has been halted until the stocks at the dealers are cleared. The Verito Vibe was launched back in 2013 and was sold only in India.
The small car from Mahindra was based on the platform of the Logan or the Verito as we know it today. The Vibe was powered by the 1.5-litre Renault K9K diesel engine producing 64bhp and 160Nm of torque. The Verito Vibe price starts at Rs 6.39 lakh ex-showroom (Delhi). The higher price bracket could be one of the reasons for the poor performance in the market.
On the other hand, the sedan version Verito sales are good due to the demand from the commercial sector. Last year, Mahindra Verito sales rose 52 percent to 2,776 units when compared to 1,823 units in 2014-15. The company has sold 1,317 for the period of April-August 2016, that's a 10 percent increase comparatively.
