It appears ‘LUV’ is in the air in the automotive market. On one end, Maruti Suzuki India is in for the new ‘Life Utility Vehicle’ Ertiga, and on the other hand Mahindra’s South Korean subsidiary, Ssangyong Motor is obsessed with the ‘Leisure Utility Vehicle’ Actyon Sports.
To carve out a way into a distinct segment of the populated automotive industry, companies are coming up with new acronyms to magnetize consumers.
In January 2012, the Korean company, Ssangyong Motor Co (SMC) President and CEO Lee Yoo-il introduced the ‘Actyon Sports’ – a vehicle that featured like a pick-up truck — the firm described it as South Koreas “first LUV (Leisure Utility Vehicle)”.
The vehicle is christened as “the extravagant vehicle for out-of-doors existence”, SMC said: “Bearing in mind the remarkable boost in outdoor and extreme utility populace, ‘Actyon Sports’ dynamically counter to the requirements of the consumers who take pleasure in leisure activities”.
SMC was so intensely in ‘LUV’ with the Actyon Sports that Yooil announced it, “is the new flagship vehicle of Ssangyong Motor lineup that will enlarge the span of automobile traditions and fetch a fresh impression to the Korean automobile markets”.
For a corporation that was under pressure with debt till Mahindra & Mahindra (M&M) get hold of it in 2011, it does not come as a surprise that SMC has put money on full-size on its brand new ‘LUV’.
“Actyon Sports has a significant role to play as a motivating force to accomplish sale figure for the current calendar and get grown trade for Ssangyong Motor , he had said then.
Moreover, in India, Maruti Suzuki also had to find ways to maintaing its dominating stand in the Indian economy, chiefly bearing in mind the reality that its market allocation in the Indian passenger cars segment, previously was at 26.18 lacs units, and has jumped down party. 38.44 percent last fiscal year.
Following this, Maruti launched the LUV, ‘Life Utility Vehicle’, in a seven-seater phase and named it, ‘Ertiga’.
“Ertiga builds up the vehicle range of the Indian automotive giant and carves the way for a new segment – Life Utility segment…,” MSI announced on the launch of the SUV.
Justifying the reason for Maruti Suzuki to go for the LUV, MSI Managing Director and CEO Shinzo Nakanishi stated, “Many town folks in the country are seeking the need for a car, which is rather spacious and flexible compared to a sedan, devoid of being hulking, mild and costly like a ute vehicle.”
These people are presently having to negotiation, and resolve for a car that fails to come up to their lifestyle standards, he added.
However, could there be a chance of the two LUVs conflicting in the country in upcoming years? Uncertain.
Mahindra & Mahindra President (Automotive and Farm Equipment Sectors) Pawan Goenka said that they have no plans of launching the LUV in India anytime soon.
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