Mumbai, Jan 27 (PTI) The Mahindra Group, whichlaunched its 1.2 tonne pick-up--Genio--in the domestic markettoday, plans to launch a series of vehicles from the Genioplatform this year, a senior company official said.
"This is just the begining. You will see (goingforward) a fairly high frequency of launches from M&M thisyear. And in the coming year, you will have a few more fromthis platform," Mahindra & Mahindra''s President (Automotiveand Farm Equipment Sector), Pawan Goenka, told reporters here.
The Genio is priced at Rs 4.99-lakh (BS 3 variant, exshowroom Navi Mumbai).
The Genio�s vehicle architecture is based on theIngenio platform which M&M has used earlier and gives superiorcab design, chassis and proven aggregates of engine andtransmission and delivers a car-like comfort and space, Goenkasaid.
M&M has invested around Rs 200-225-crore in thedesigning and manufacturing of the product, Goenka said,adding, the company also plans to export the vehiclesix-months from now.
M&M enjoys a 75 per cent share in the pick-up segment,whose total size stands at around 85,000 vehicles annually.
"With this launch, we want to take the pick-up segmentto the next level, which has been under-performing due tocertain reasons including the fact that the segment did notsee any new products in the last two-years," Goenka said.
The segment grew in single digits last year, but thisyear it is expected to clock a double-digit growth, Mahindra &Mahindra''s Chief Executive (Automotive Division), RajeshJejurikar, said. .
The Genio is available in four attractive colour options-�silver shine (metallic), diamond white, marvelgranite and skyline blue and is available across 70dealerships. From mid-February, the company plans to make thevehicle available across its dealerships pan-India.
The company has also introduced the BS4 variant of thesmall commercial vehicle in the market, which is pricedaround Rs 15,000 higher than the BS3 variant.