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Mahindra Rolling Out 6 New Vehicles This Year
Goenka said: "We have a capital allocation of Rs 5,000 crore for the next three fiscals and plan to launch six new models this fiscal." However, he didn't reveal any further on the details of the cars to be launched. He also announced an investment of another Rs 2,500 crore in group companies during the next three fiscals.
Last week the carmaker had confirmed the launch of a hatchback based on the Verito sedan in September this year, which is just a few months away. Earlier there were reports that Mahindra is developing a sub 4 metre Verito sedan on the lines of Maruti Suzuki Swift Dzire and Tata Manza.
Meanwhile, the company said that the highly successful XUV 500 will soon be launched in foreign markets such as Australia, Chile and Western Europe. Mahindra has been the leading carmaker in the SUV market, but the carmaker had entered the small car market only a few years ago. It is the Mahindra Verito which is the entry-level car from the company.
It could be speculated that Mahindra would be bringing in small cars which accounts for a major chunk of the market share. The announcement from Mahindra has come at a time when many carmakers are planning to manufacture smaller, cheaper, fuel efficient cars. With Mahindra too entering the race, car buyers can expect better low cost cars in the future.
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