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      Six new models to be launched by the Mahindra & Mahindra Group

      CarTrade Editorial Team

      CarTrade Editorial Team

      A senior executive at Mahindra & Mahindra Limited stated that besides upgrading the existing models in current FY starting April 1st, company will also launch six new models. President, Automotive Business, Mahindra & Mahindra, Pawan Goenka, said, “We have a capital allocation of Rs. 5,000 crore for the next three fiscals and plan to launch six new models this fiscal.” The company aims to take its average growth rate of 10-12 per cent in the current fiscal to another level with these new launches. According to Goenka, in next three fiscal years, the largest Sports Utility Vehicle (SUV) manufacturer is planning to invest additional Rs. 2,500 crores in the group companies.

       

      Mahindra XUV 500 Picture 16
      Mahindra XUV 500 
       

      When asked about the upcoming manufacturing plant in South India, Goenka said that the location for the new plant has not been finalised yet however the company is in talks with some states. However, the company is ready to establish a 500 acre manufacturing plant at Uttarakhand investing Rs. 3,000 crores.

      Goenka also spoke about the recent best selling XUV500. According to him, countries of Australia, Chile and Western Europe will receive the coveted SUV by next month. The best selling SUV is already offered in Brazil and South Africa, with a figure of 150 units sold in a month in South Africa itself.

      Mahindra & Mahindra group is looking at least one new market abroad by June to export the XUV500. To meet the high demand for the vehicle, the company recently raised the output to 4,000 units a month from 3,000 units. As per reports, fresh booking of the SUV will start again from 8th June across the Indian subcontinent. In the second face of booking, the vehicle was sold in the dealerships across 19 cities in the country. Aided by a one-time tax benefits and reduction in taxes, the company reported a 44 per cent gain in it Q4 net profit.

      Goenka did not divulge any information regarding the launch date of the new models. However, the spied Mini-Xylo is speculated to be one of the six models besides the upcoming hatchback, Verito.

      Mahindra | XUV500 | Mahindra XUV500