Mahindra

Kochi, Oct 5: Utility vehicles major Mahindra&Mahindra today said it is targeting a 50 per cent overall market share in the next few months and has launched two new products to cater to the needs of a cross section of customers.

Addressing a press conference here to mark the Kerala launch of the 'Maxx Maxi Truck' and 'Bolero Pik Up FB', company's Zonal Head, South, Jacob Varghese, said M&M hoped to reach a 50 per cent market share by the end of this financial year or the first quarter of the next fiscal.

The company already enjoyed a 60 market share in the pick-up category and 49 per cent in the large three-wheeler category, he said.

While the 'Maxx Maxi Truck' is priced at Rs 3.40 lakh (ex showroom Kochi), the Bolero is priced at Rs 4.53 lakh.

Mr Varghese said the 'Maxx' was being launched after a market survey showed that there was need for a pick-up between the large three-wheeler and big pick-ups. The 'Bolero' was designed to meet the aspirational needs of the high end customers.

The 'Maxx Maxi Truck', positioned to take on the Tata 'Mini Truck', has a load capacity of 900 kg, a maximum speed of 100 km, a 180 mm ground clearance and a mileage of 16 km per litre, he said.

This vehicle was being launched with the slogan of ''Bada Socho'' (Think Big) while the Bolero's catchline was ''Dum Bhi, Style Bhi'' (Power and Style combined), he said.

Mr Christopher Rajasekaran, General Manager, TVS, Kerala, said Mahindra and Mahindra was a clear market leader in the pick up category in Kerala, with a 69 per cent market share.

It was the company's endeavour to have a service station for the vehicles at every 50 km, he added.

The USD 3 billion Mahindra Group is among the top ten industrial houses in the country and M&M is the only Indian company among the top five tractor manufacturers in the world, Mr Varghese said.

UNI