Mahindra Foresees Rise By 16% In 2011

By By: Vicky.in

Published: Wednesday, February 2, 2011, 11:19 [IST]

Mahindra & Mahindra is the dominant company in the pick-up segment with 75% shares and now it hopes to witness a rise of the segment by 15-16% shares during this year. M&M, a segment of .1 billion Mahindra group, accounts this increase on the ongoing demand for pick-ups in the market. The company"s Senior VP for Marketing said that the company"s current strength is 85000 annual units and the motive is to take advantage of this level to increase the market in the wake of projected 15-16%. The company witnessed an increase of 5-7% in 2010 in pick-up sector and this will convert the volume to 350000 to 400000 in another two years. M&M"s 1.5 tonne pick-up meets the requirements of small and medium business transportation at the price tag of Rs5.05 lakh in West Bengal region.

In another move of the company has shelled out Rs225 crore for designing and manufacturing its new Genio which is set for export market too. The company has strong presence in South Asia and Africa where it will be easy to market this vehicle, he added. Another version of Genio is also in the offing but with no time bound activities and incidentally Genio happens to be the second product from Mahindra & Mahindra which has its operations in Chakan in Pune. As the pick-up marketing is pricking up at a projected 6500 units a month, the new vehicle is expected to reap in 2000 units and the production will be proportionately increased on demand, he explained.

Article Published On: Wednesday, February 2, 2011, 11:10 [IST]

Read more on: #mahindra #vehicles #automobile market #anjana

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