Update March 17: We have received February 2016 sales numbers and the trend has continued. Here is the quick update…
- Mobilio’s production remained shut. It sold 226 units in Feb. Cumulative sales stand at 7453 units.
- In comparison, Renault produced 2 units of Lodgy and sold 527 units. Cumulative sales are 9179 units.
26 Feb: Original article continues…
MPV Sales Scenario in India: Both new entrants are not selling.
Toyota Innova has been ruling the MPV segment in India and despite its unjustified price tag, buyers (both personal and fleet operators) prefer it over the others. Maruti Ertiga, at a much lower spectrum, has carved its own niche and continues to sell in hoards as well. However, other manufacturers which tried to follow suit have not been able to replicate the success story of these two. Yes, both Mobilio and Lodgy are sales duds!
Against the common belief, the worst affected is the Mobilio, a product from which Honda had high hopes. In fact. the sales have slid so badly that even Renalt Lodgy has overtaken it!
In the financial year 2015-16 so far, Renault has sold 8,652 units of the Lodgy while Honda’s Mobilio stood at 7,227 units for the same period. Both the companies have halted production of these MPVs and are waiting for the existing backlog to get clear. While the production has been suspended for the last many months, we do not think they have been/will be discontinued from the market anytime soon.
A small mid-life refresh, with possibly a few cosmetic changes can be expected sometime later this year in order to give them a marketing boost. However, we believe pricing also needs correction and both of them may accommodate a few thousand rupees slash respectively.