NEW DELHI: Iconic American SUV maker Jeep on Monday drove in its first locally-built model Compass with an entry price of Rs 14.95 lakh (ex-showroom Delhi for the petrol variant), fuelling fresh competition in the premium off-roader segment.

The diesel version has been priced from Rs 15.4 lakh onwards and this will hit the market first. The petrol model will be made available around the festive season near Diwali .

TOI was first to report on Rs 15-lakh pricing in its edition dated August 5 of 2015, and on June 20 this year. Compass will be manufactured at Ranjangaon factory of Jeep's parent Fiat and will carry a 1.4-litre petrol engine and a 2litre diesel heart. It will compete with a host of models such as segment leader Hyundai Creta, and premium entry SUVs from the German trio -BMW X1, Audi Q3 and Mercedes-Benz GLA.

Fiat Chrysler Automobiles ( FCA ), owner of the Jeep brand, hopes for a blockbuster opening for its local model (Compass carries 65% local parts).

