IIFL on SsangYong Rexton: Namaste, Gangnam style!
The 30% localization at the Chakan facilities has helped Mahindra make the Rexton into a price warrior in the entry-level luxury SUV segment
IIFL Institutional Equities, a part of the IIFL Group, one of the leading players in the Indian financial services space, in a recent report on SsangYong Rexton said that, Mahindra has introduced the first of its SsangYong portfolio in India via the Rexton. It has road presence, is good looking too, but carries a sober air around it.
According to IIFL Institutional Equities, while the overall interiors are very good, there are elements that one could crib about, including the instrumentation. That said, ride quality is very good (despite the body roll that comes with the ladder-chassis), and space seems decent. Overall, this is the kind of SUV that will have mass appeal.
The 30% localization at the Chakan facilities has helped Mahindra make the Rexton into a price warrior in the entry-level luxury SUV segment. And that seems to be working its magic, going by the kind of bookings that they have managed to generate in the 45 days since launch, the brokerage added.
The report was published by IIFL’s Institutional Equities Research desk.
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