Latest Car News in India

Friday, October 19, 2012

By Manoj Kumawat

Mahindra-Ssangyong to develop 3 new engines, aims to beat industry rate in India

Going through a golden touch these days, the Indian auto giant Mahindra & Mahindra is now looking forward to further sped-up their growth trajectory in both domestic and overseas markets. The company is eying to beat the growth rate of overall industry in the second half of this financial year. The growth projection has been on a high note in the coming months thanks to a boost in the summer crops after late pick-up in monsoon.

The company is well set to boost their presence and product offerings in the global market as well. The firm has recently announced to develop three new engines in collaboration with their South Korean unit Ssangyong Motors. These new engines will be launched in the global market over the period of next three year.

Mahindra Rexton Pictures

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While briefing to the reporters in the National Capital, M&M Chief Executive (Automotive Division) Pravin Shah, said that the company is looking forward to develop products jointly with rolling out three engine platforms jointly. These engine platforms will be used to power both M&M and Ssangyong vehicles. While the investment from M7M side will be of Rs 4000, Ssangyong will be injecting Rs 1500 crore over the period of next three year in this joint development.

However, the specifications of these upcoming engines haven’t been revealed by the company. These are most likely to be compact and high powered diesel engines which can be utilized to power new Mahindra and Ssangyong Sports Utility Vehicles (SUVs) as well as passenger cars.


Mahindra Rexton Pictures

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Mahindra & Mahindra has recently launched the Mahindra Rexton SUV in the India market in the price range of Rs 17.75 lakh and Rs 19.75 lakh (ex showroom Delhi). This is the third generation Ssangyong Rexton which is already being sold in over 70 countries around the world. New SUV will be rolled-out from the company’s Chakan plant in Maharashtra.

While the overall industry growth rate is expected to be in the range of 2 to 5 percent in the second half of this fiscal, M&M is expecting to do better in comparison. During the period of April to September, the company sold a total of 1.03 lakh units of their vehicles in India. In Andhra Pradesh, where the company holds a leading position with a market share of 37 percent, the company is planning to enhance their market share to 40 percent.

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