Mumbai: Mahindra and Mahindra Ltd (M&M), India’s largest utility vehicle maker by unit sales, on Thursday made its entry into the competitive motorcycle market by unveiling two models—the 106cc Stallio and the 300cc Mojo.
Until now, the firm had products across the automotive sector except motorcycles. Some 7.4 million motorcyles were sold in the country in the year to March.
Vice-chairman Anand Mahindra said M&M saw two-wheelers as an “entry point for a customer to the Mahindra universe”.
The entry-level Stallio, priced at Rs 41,199 (ex-showroom, Pune), will compete with Hero Honda Motors Ltd’s Splendor and Bajaj Auto Ltd’s Discover, among others. The Mojo, aimed at the premium luxury segment, will cost Rs 1.75 lakh, (ex-showroom, Pune). M&M has 370 sales outlets for two-wheelers, and is expected to increase the network to 400 by October.
“The pricing of the bike is on an expensive side,” said Mahantesh Sabarad, a senior vice-president at Fortune Equity Brokers India Ltd.
The Stallio, for which film actor Aamir Khan is the brand ambassador, will be launched in the festive season beginning October. The Mojo is not yet ready for production. Both bikes will be made at M&M’s plant in Pithampur, Madhya Pradesh, which has a capacity to turn out 500,000 bikes annually, said Anoop Mathur, president, Mahindra 2 Wheelers.