Mahindra rolls out over 1 lac Boleros in FY 2011-12

Tuesday 01 May 2012, 11:28 AM by

Mahindra & Mahindra Ltd. (M&M), the largest Sports Utility Vehicle (SUV) manufacturer of India, has declared that its Bolero has crossed the sales landmark of 1 lac units in financial year 2011-12. The company rolled out 1,00,686 units of the model in the last fiscal, which represents its highest sales since it was introduced in the market. With such excellent sales, the car registered a 21 per cent growth over the 83,112 units sold during the previous quarter.

The company sold 10,026 Boleros in March 2012, which helped it mark its highest ever monthly sales. Moreover, Bolero became the largest selling SUV of the country for the 6th successive year due to these sales volumes. Moreover, it gained two positions to land on the 7th position on the list of top 10 cars in India in terms of sales during the previous fiscal year. Notably, it was the only SUV on this distinguished list.

Talking about this momentous achievement, Pravin Shah, Chief Executive, Automotive Division, Mahindra & Mahindra commented, “The fact that Bolero has sold more than 1 lac units in FY 2011-12 signifies the confidence consumers have on the brand. Over the years, Bolero has evolved with the changing lifestyle aspirations of customers resulting in an exceptional CAGR of 26%. I am sure that the Bolero will continue to be as popular on Indian roads in years to come.”

Since its introduction in August 2000, Bolero has undergone several changes. Over the years, its aesthetics have been modified and it has been integrated with a number of features to make it more suitable for ever-changing lifestyle and aspirations of the modern Indian consumers.

As part of its efforts to improve its product portfolio, M&M launched the New Bolero, which boasts of a new m2DiCR engine that renders a refined performance and enhances its driveability and mileage. The front styling of this new iteration of the SUV provides it with an aggressive stance and makes it look macho. Some of the highlighting features of the car are Advanced Digital Display with Driver Information System (DIS) and digital engine immobiliser. The stylish dashboard, all-new wood-finished central console as well as refurbished seats and upholstery of the new edition of Bolero add to the appeal of its interiors.

The World Wide Web provides a glimpse of the popularity of Bolero. More than 5.7 lac people are fans of the car on the largest social networking website in the world, Facebook, where they share their stories related to the car; its YouTube channel has over 16.5 lac hits. This car also enjoys popularity among cricketers, such as Gautam Gambhir, who has a Bolero Stinger, and Robin Uthappa, who owns a Bolero Special Edition.

Mahindra is a company that lays emphasis on helping people rise. It operates in various fields that are key growth drivers of the economy and has the leading position in the tractor, Utility Vehicle (UV), Information Technology (IT) and vacation ownership industries of the country. The group works in automotive, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler sectors.

Valued at USD 14.4 billion, this Mumbai-based multinational group accounts for the employment of over 1,44,000 people across 100 nations. It was on the Forbes Global 2000 list in the year 2011, thus making its presence felt among the largest and most influential listed firms in the world. Dun & Bradstreet placed M&M on the top of its list of Top 500 Companies of India in the automotive sector. The company is also ranked among Credit Suisse's Great Brands of Tomorrow. In the year 2011, it bought a controlling stake in SsangYong Motor Company of South Korea.