I have lost count of the number of times I have said that Mahindra and Mahindra is getting real aggressive in expansion of its presence in Indian market. I will love to say that you are wrong in case you thought this is yet another story on the upcoming hatchback from the popular UV maker.
Mr. Pawan Goenka, President (Automotive Business), M&M, today commented, “We have a capital allocation of Rs 5,000 crore for the next three fiscals and plan to launch six new models this fiscal”. M&M currently enjoys about 12% share in the market and expect this to grow with the launch of new vehicles. Mr. Goenka stated that investments of as much as Rs. 2,500 Crores will be made in coming three fiscals.
Regarding the high selling XUV 5-0h-0h, Mr. Goenka said that the supposedly ‘inspired by cheetah’ vehicle will soon be launched overseas at Australia, Chile and Western Europe. It may be noted that the car is already on sale at South Africa and Brazil. While we know that the Bonsai version of high selling Xylo MUV and hatchback version of the Logan, nay, Verito is headed our way, Mr. Goenka didn’t reveal much about the launches. What is official is that Mahindra will introduce as many as half a dozen cars in the market by the end of this fiscal.