Mahindra (MM) launched the urban centric D segment SUV Scorpio-N with initial capacity of 6k units/month and attractive pricing (on-road price range of Rs1.6mn to Rs2.3mn for manual version) vs targeted peers like Toyota Innova Crysta, Tata Safari and MG Hector. Amidst current success in UVs led by XUV7oo/Thar, we expect this model to drive UV volume for MM to above 30kunits/month from H2FY23.