Utility and CV maker Mahindra and Mahindra, on Monday launched another product under the Jeeto brand name - Jeeto Plus CharSau at INR 5.26 lakh, ex-showroom, Pune.
Besides the launch, the vehicle maker also announced introductory financing scheme from Mahindra Finance with an interest rate of 1.99%.
The new product will be sold alongside the ongoing models. Amit Sagar, Head- SCV Division Business, Mahindra Automotive, said that the new product has garnered 100 bookings in days and the company plans to deliver the first 50 products within two days of the launch.
Banking on the added 28L CNG tank over the already existing 40L tank, the new product is claimed to cover up to 400 kms on a single filling, returning 35 km/kg.
Additionally, the vehicle is claimed to churn out 20Hp and 44Nm of torque with a claimed loading capacity of 650 kgs.
To be rolled out from Mahindra’s state-of-the-art Zaheerabad plant, the SCV comes with three years or 72,000km warranty.
Sagar said, “Mahindra is committed towards sustainable mobility and the environment, and the launch of the New Jeeto Plus CNG CharSau is a proactive step in that direction.”
With the new product, the company is targeting for customers looking for inter-city travel. He noted that initially, M&M will target the vehicle to customers in Delhi NCR, Western UP, Ludhiana, Chandigarh, Gujrat, Mumbai, Pune, Vidarbha, Chennai and Bangalore.
He added that the existing Jeeto range has seen 55% of sales from captive buyers while the rest 45% comes from MLOs. He noted that the SCV segment has seen a 70% YoY growth in the last four months while the CNG variants in the segment have witnessed 55% YoY growth in the same time. Notably, the company claims to hold 45% of market share in the SCV segment.