M&M looks to make US largest export market for SUVs

M&M looks to make US largest export market for SUVs
PTI
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First Published: Fri, Aug 28 2009. 10 30 AM IST
Updated: Fri, Aug 28 2009. 10 30 AM IST
New Delhi: Auto maker Mahindra & Mahindra is looking to make the US one of the largest export markets once it starts selling its vehicles there next year.
The company, which exported 9,000 units of sports utility vehicles (SUVs) and pick-ups across the globe last fiscal, is looking to better its performance this year.
“We will start exporting our Scorpio platform vehicle in the US markets by February-March 2010. We plan to start with around 2,000 vehicles and hope that the US will be our biggest export market soon,” M&M executive vice president (international operations automotive sector) P.N. Shah told reporters on the sidelines of SIAM annual conference here.
He said the company will start its US exports with pick- ups and then move to SUVs.
The company has sold 9,000 units in the international markets in 2008-09 and hopes to improve the number this fiscal.
“While we had exported 13,000 units in 2007-08, our exports fell to 9,000 units last fiscal. This year we are optimistic of improving our sales and bettering last year’s performance,” Shah said.
He added that the company has a $75-80 million investments planned in the US markets and is open to acquiring some assembly lines there. The company had sold 10.7 lakh units during the last financial year.
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First Published: Fri, Aug 28 2009. 10 30 AM IST