Indian auto manufacturer Mahindra and Mahindra and French Auto maker Renault mark their presence in India with their joint venture Mahindra Renault which currently has only single product in its portfolio. The company currently sells Logan which has been experiencing sharp decline in its sales since past few months. Mahindra Renault is now re-looking at its product portfolio in India to boost its sales volumes.
It is thinking of launching a face lifted model of its existing model Logan to increase sales volumes. It means that both the equity partners will have to infuse funds to revamp the model. Apart from face-lifting the model, the company will also make Logan compliant with the new emission norms coming into effect from April 2010. Logan is currently selling 500 units per month as compared to sales of 1200 unit in January this year.
According to Pawan Goenka, M&M President, “There is no finality on new product plans for India. While we have realigned our production to market demands and cut targets for the current year, we are serious about the joint venture.”