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Mahindra To Launch Seven New Vehicles
By shelling out more than Rs7000 crore for the projects slated for 2011-13, M&M is on the bid to increase its muscle power in the passenger car sector, said its Chief Executive. He explained that M&M is on the verge of benefiting out of the fast growing SUV sector in the Indian car market. The company is relying much on its tractor sale to enhance the growth rate to double in next two years. He categorically estimated that the overall hold of SUV in the global markets is 40% while it is 15% in the domestic market, which is expected to go to 22-23% due to the increasing demand.
He said the Mahindra's new SUV new models will be based on the cost factor to meet the average customer too. As a result, there will be a low priced edition of its fast selling SUV Xylo, at Rs5 lakh to be a compact version. Mahindra SUV price will reduce nearly 35-40% from the existing model due to the waiver of excise duty effected by the government of India for small cars. Thus the car will be redesigned to a length of 4 meters with 1500cc engine capacity for diesel and 1200cc for petrol.
In the meantime, Mahindra retro-styled Commander will launch under the brand of Thar, which is currently in sale in the South African markets. Another major launch of Mahindra seven new vehicles is the global version of its flagship SUV Scorpio to become a crossover for which an investment of Rs700-800 crore has already been made. The car is slated for the introduction during this fiscal itself while on parallel there will be the top end versions on Ssangyong platform once deal of acquiring gets materialized soon.
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