Mahindra to roll out new models

Mumbai, May 28 (UNI) Mahindra and Mahindra Limited is planning to roll out a Sports Utility Vehicle (SUV) and a mass carrier that will be available in passanger and cargo segments.

Company MD Anand Mahindra, after the announcement of the annual results, told reporters today ''The platforms for both vehicles has alreday been set and said the project may take 3 to 5 years to complete.'' The company has also plans to consolidate its engineering services in due course.

Commenting on the recent hike in credit rates, Mr Mahindra said the rate hike was a matter of concern in recent months as 80 per cent of tractor business were based at credits.

''Both the hike in credit rates and an appreciating rupee had an adverse impact on the business in recent months,'' he said.

UNI