Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / M&M to enter US market in 1st quarter of 2010
BackBack

M&M to enter US market in 1st quarter of 2010

M&M to enter US market in 1st quarter of 2010

Premium

New Delhi: Auto maker Mahindra & Mahindra today said it will begin US operations in the first quarter of 2010 with two new variants of SUV Scorpio besides two vehicles in the Indian market over the next six months.

The company also said reports about recall of some of its Scorpio and Xylo vehicles are false.

“In the US market, we are going to start off with the Scorpio single cabin and double cabin in the first quarter of next year. In future, we will have newer models coming in," Mahindra & Mahindra (M&M) president (Automotive Sector) Pawan Goenka told PTI on the sidelines of ACMA annual conference here in the capital.

He said, the company will initially sell its models in the US market as completely built units shipped out from India.

“If we get good volumes, then we will look at local assembly (in US). It depends on the market and how our products are accepted there," Goenka said.

The company had earlier announced that it had made investments worth Rs300 crore on product development for its US operation.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 03 Sep 2009, 01:07 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie