Sale of utility vehicles and SUVs has outpaced the rest of the industry so far this year aided by rising disposable incomes and cheaper cost of fuel (diesel). In the first 7 months this year, UVs have grown by over 60% at a time when passenger car sales have grown at less than 3% per annum.
"It is a no brainer that we will need products in that space even though a sub 4-metre version will take time," said Tipnis.