Mahindra & Mahindra Limited, a part of the US $16.2 billion Mahindra Group, today unveiled its sub-four metre sedan Verito Vibe in the city.
"With the launch of Verito Vibe, we will be able to create a new space, the sporty sedan segment. We see a huge opportunity in this segment," Company Vice President (Sales) Vijay Nakra told reporters here.
The new model, which will compete with those like Maruti Suzuki's Dzire and Honda's newly introduced model Amaze, is powered by a 1.5 litre diesel engine, he said.
Nakra expressed confidence that it will appeal to customers with its young and sporty looks.
He said the Verito Vibe will be available in three variants - D2, D4 and D6.
The price range for the Vibe will be from Rs 5.68 lakh (ex-showroom Bangalore) for base D2 model to Rs 6.54 lakh (ex-showroom Bangalore) for the fully loaded top end D6 model, he added.
Replying to a query, Nakra said the company has a capacity to manufacture 35,000 vehicles under this platform but could scale it up by 40 per cent in short span.
