The Innova and its predecessor in Toyota’s stable, the Qualis, redefined the so-called multipurpose vehicle segment in India. Photo: Pradeep Gaur/MintNew Delhi: Mahindra and Mahindra Ltd (M&M) plans to launch a vehicle that will compete directly with Toyota Kirloskar Motor Pvt. The Innova and its predecessor in Toyota’s stable, the Qualis, redefined the so-called multipurpose vehicle, or MPV, market in India. Sales of Honda Cars India Ltd’s Mobilio declined 74% to 8,063 units, from 30,584 units the previous year. Sales of M&M’s Xylo fell 14%, while that of Maruti Suzuki India Ltd’s Ertiga dipped 3%.

Source: Mint September 11, 2016 18:33 UTC