Mumbai: Mahindra & Mahindra Ltd, the country’s largest utility vehicle maker launched the Genio, the 1.2 tonne pick up truck in Maharastra on Thursday.
Hived off from the Xylo platform, its multi-purpose vehicle, the Genio will retail at Rs 4.99 lakh, ex-showroom, Navi Mumbai. Mahindra, that has 75% marketshare in the 85,000 units per annum, pick-up truck market, presently sells the Bolero pick-up truck in teh segment.
Addressing the reporters at the launch, Pawan Goenka, president, automotive and farm equipment sectors at M&M said, the Genio is first in the series of launches that will happen from the Xylo platform Mahindra launched the Xylo two years back. The new offering Goenka said will help the company further consolidate its position in the pick up truck segment, where the growth, in the absence of any new model launches, has been sluggish.
Mahindra plans to produce 2000 units of the Genio every month from its factory in Chakan near Pune. It has invested around Rs 100 crore in developing the vehicle, the company said.