The chips may be bottomward at Mahindra & Mahindra, but the account agent above is all set to booty antagonism bang with two all-new bunched SUVs. The company, which has apparent commuter agent sales blooper 19% in 10 months of this budgetary due to annealed antagonism from models like Renault Duster and Ford Eco Sport, affairs to drive in the SUVs abutting year and these will be priced aggressively in the Rs 5-6 lakh segment.
“The fresh SUVs will be aloft from two all-new platforms that we are developing,” Pawan Goenka, admiral of M&M’s automotive division, told TOI here. The aggregation is spending about Rs 1,000 crore per belvedere and these will additionally be acclimated to drive in added articles in the future.
Goenka said while one of the SUVs will be focused on metros and bigger cities, the added one will be for semi-urban and abate markets. The aggregation additionally has a plan to consign the models to neighbouring countries and added markets like South Africa, Chile, Brazil and Indonesia.
Goenka said Mahindra’s absence from the bunched SUV articulation was a above acumen abaft the poor performance. “The UV articulation is growing in a sub-segment area we do not accept able products. If you attending at the UV segment, as in acceptable UV segment, our bazaar allotment is intact. But, that is not the articulation that is growing.”
Quanto, which is the company’s everyman priced UV, has not been able to accomplish abundant advance while the XUV500 has additionally been beneath pressure. Goenka, however, said that the company’s old warhorses such as Bolero and Scorpio abide to do well. “The absolute turnaround for us will appear already we barrage the fresh products.”
Asked whether the aggregation will be able to administer a aerial amount of clarification and architecture elements, he said, “If we accept not abstruse in the aftermost 15 years on how to get the clarification to the akin area it can attempt with the acceptable passenger-car players, again we don’t deserve to abide on the top… Our analysis will be that back we barrage the artefact in a aggressive Rs 5-6 lakh segment, area the acclaimed brands are there, will Mahindra be able to administer that.”
The burden from fresh models, at a time back the car bazaar is casual through one of its slowest periods, has hit the company’s sales hard. Bazaar allotment of M&M has slipped to about 40% from the aerial levels of about 55% it already enjoyed.
Goenka said not abundant should be apprehend into this development. “When a articulation moves from actuality a duopoly to a dozen players, you cannot accept a 60% affectionate of bazaar share… In any aggressive market, 40% bazaar allotment is a acceptable share. If we can advance 40% in a continued term, I will be actual happy.”