Click it and Unblock the Notifications
Mahindra To Launch New Models To Boost Sales
Pawan Goenka, M&M's president (Automotive) said: “We will launch five new products that include a new SUV [from Mahindra], a new electric car [Reva] and Korando C Rexton from Ssangyong during the year and we expect to do well from these launches."
M&M did not specify any sales targets for the year. Although car sales in India grew at 27 per cent during the last fiscal year, sales during April and May grew by just ten per cent.
M&M had acquired Korean SUV maker Ssangyong in 2010 for $480 million. There have been rumours that Mahindra will be launching the Ssangyong Korando in India this year. Mahindra and Ssangyong have been interacting over product development. Mahindra's new SUV model code named W201 has also been assessed by Ssangyong engineers. Mr.Goenka said: "The SUV code named W201 was complete before the acquisition but even then we had taken Ssangyong engineer's inputs and we also plan to send a car to Korea for their suggestions."
Mahindra and Mahindra is yet to take a decision on selling Ssangyong's SUVs at Mahindra's showrooms or set up an independent dealer network according to Mr Goenka. Ssangyong models are expected to be placed in premium category and would be imported in CKD form and assembled in the country to keep import duty at 10%. It is yet unclear if these cars will be branded as Ssangyong or as Mahindra in India.
Mahindra intends to sell its own branded cars through Ssangyong's dealers in Africa. The Korean carmaker is still in the red and is not expected to make a profit this year.
Continue with Google