The launch of Mahindra XUV500 SUV had created a big stir in the automotive industry. The response was so much overwhelming among the customers that the company had to close its bookings after the XUV500 has recorded over 10,000 bookings within a month after its launch. The SUV segment is witnessing some good sales figures off late and all the auto makers are closely watching this and planning to launch similar products to cash in on the demand when the time is right. One such company who is already planning so is the tractor and SUV maker, ICML Sonalika. The company has already confirmed that they are going to build a brand new SUV that supposedly going to be a rival for the XUV500 and will be showcasing it at the 2012 Delhi Auto Expo.
The new SUV is going to compete with the to-be-launched Tata Safari Merlin along with the XUV500.The company also plans to launch a new sedan in the D segment category. The sedan is also likely to be showcased at the Delhi Auto Expo. The D-segment sedan has been designed by the world renowned design firm, Pininfarina. Currently ICML Sonalika makes the Rhino SUV in the passenger car segment and the car has been doing quite well in many north Indian states. The Punja based Sonalika group is also eyeing to tap into capital markets by an initial public offering and is also on the lookout for private equity firms to fund its plans.
