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M&M two-wheelers aims double-digit growth in 5 yrs: Mathur

M&M two-wheelers aims double-digit growth in 5 yrs: Mathur
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First Published: Wed, Feb 24 2010. 04 32 PM IST
Updated: Wed, Feb 24 2010. 04 32 PM IST
Hyderabad: Mahindra & Mahindra two wheelers is aiming to see a double-digit growth in the next five years and would also look for some acquisitions to achieve this, said Anoop Mathur, president two-wheeler sector.
According to him, as part of the $6.3 billion M&M Group, they always look for opportunities to grow.
The group philosophy is to grow faster by grabbing opportunities. We are part of the group and not exempted from that. We are looking for opportunities that would help us grow faster, Mathur told PTI in an exclusive interview.
The senior executive was here to participate in Mahindra Blue Chip Conference, a two-day brain storming session of top executives for all arms of Mahindra group.
However, he declined to comment on a query if the company was holding discussions with any group for acquisition.
Talking on the future trends, he said the industry has been growing at 22 - 23% annually and the company has an excellent opportunity to become one of the top players in the industry.
Mahindra brand value coupled with marketing opportunities and our hard work would sure help us achieve our goals, Mathur said.
The two-wheeler arm of M&M group started retailing gearless scooters from September last year and crossed 10,000 mark last month averaging sales of around 7,000 units a month. The company targets sales of 15,000 units per month by April.
The figure (10,000 units sales) is indeed a landmark for us. It is just four months of launch of our scooter portfolio. But it was not end of the road, Mathur said adding we will always look to do better when compared to previous month or year.
He said the plant capacity is five lakh vehicles a year and will soon reach 100% capacity utilization. The present dealer strength across the country is 320 and would be expanded to unrepresented areas soon.
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First Published: Wed, Feb 24 2010. 04 32 PM IST