×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

M&M to launch new model in 2011

M&M to launch new model in 2011
Comment E-mail Print Share
First Published: Tue, Dec 28 2010. 08 04 PM IST
Updated: Tue, Dec 28 2010. 08 04 PM IST
New Delhi: Country’s largest utility vehicle maker Mahindra and Mahindra Ltd will launch a new pick up truck in above 1.2 tonne capacity in the first half of 2011.
“We are working on a lot of models. There will be a pick up on a completely new platform,” said Arun Malhotra, senior vice-president (sales and customer care). “We plan to bring it in the second of 2011. It will be positioned near the top-end of our commercial vehicle pickup range, with a payload capability of above 1 tonne.”
The company’s four-wheeler pick-up segment grew substantially by 38.9% y-o-y to 46,835 at the end of September quarter, led by strong performance by GIO and Maxximo vehicles. Mahindra currently has five pickups in its commercial vehicle portfolio. The range starts with the Gio, Maxximo, three-wheeled Alfa and Champion models, and Maxx.
The company also said that it will revise prices of all its models in January. “There will be a a price increase in January. It will be across all the segments including heavy commercial vehicles,” said Malhotra. “The prices of rubber and steel components have shot up. This has forced us do a price revision.” Malhotra did not disclose the quantum of increase.
When contacted, Mahindra and Mahindra president (automotive), Pawan Goenka said, “Yes, there is a pressure from the supply side and discussions are going on regarding price hike. I would not be able to share the details at this point of time.”
Earlier this month, Hyundai Motor India Ltd and General Motors India Pvt. Ltd (GM India) have decided to increase prices across models by at least 1.5-2.5%. The country’s largest car maker, Maruti Suzuki India Ltd, had said it will hike prices of its vehicles soon to offset rising input costs and the strengthening yen.
The company also launched a utility vehicle Thar, priced at Rs5.99 lakh (ex-showroom, Delhi). Sales of utility vehicles at Mahindra increased to 56,639 units in the September quarter from 55,280 a year earlier, boosting the company’s sales by 15% to Rs5,311 crore. The utility vehicle segment has grown 21% in the first two quarter of this fiscal. The industry sold 1,54,500 vehicles during April to September as compared with 1,27,400 units sold in the same period last fiscal.
The company also maintained that it is not facing any supply constraint and does not see a production shortfall on that account any more. “Supply related concerns have been sorted out,” said Malhotra. “There were shortages of components such as tyres, fuel pumps and castings. But, now we get supply regularly from our vendors.”
Production at M&M and other auto makers slowed in recent months as component suppliers were unable to keep pace with demand. In September, Mahindra and Mahindra’s Goenka said supply constraints brought down production in the last quarter by 8-10%.
amrit.r@livemint.com
Comment E-mail Print Share
First Published: Tue, Dec 28 2010. 08 04 PM IST
More Topics: Mahindra and Mahindra | Truck | Model | 2011 | Gio |