The model will be priced at Rs 4.57 lakh and will be available in both petrol and diesel versions, according to M&M executive vice president (marketing & sales automotive business) Rajesh Jejurikar.
M&M has also completed the national roll-out last month of the Bolero DI for the low-end market. The vehicle will have better fuel efficiency and will be priced at Rs 4.25 lakh. The model is selling around 500-600 units per month, Mr Jejurikar added.
M&M also has the Camper and the Invader in the Bolero range. The Invader is targeted at a new segment. In order to further broaden its product portfolio, M&M is negotiating with the South Korean company Ssangyong to introduce its sport utility vehicle (SUV) Rexton in the Indian market.
The model sells in the same price bracket as the Hyundai Terracan in South Korea. Sources said that the main issue was the pricing, as it did not make sense for M&M to import the vehicle for few numbers.
If the pricing is finalised, we will import the first few hundred as completely built units (CBUs) and then go for the completely knocked down (CKD) route, said a senior company official.
M&M currently has a 4-5 week waiting period for the Scorpio.
The company has increased production to 102 vehicles a day and is planning to ramp this to around 118 a day within the next three months, company officials recently told analysts.
The company also plans to commence Scorpio exports to Europe by end of December or January.