Thursday, May 31, 2012
By Manoj Kumawat
Six Mahindra cars to be launched this year
Mahindra India will be expanding its operations and will also be launching six Mahindra cars in this fiscal. In the next three years, Mahindra will be spending Rs 5000 crore in expanding its operations and stepping up the capacity of its production plants. Notably, with the exceptional sales of Mahindra XUV 500 and the new Mahindra Xylo, the car maker expects a reasonable high growth this fiscal. And why not when the diesel cars are in trend and the already high petrol price is pushing up diesel car sales.
As per the information available, the car maker expects 10 percent growth this fiscal and enthused with the growth, it will be investing over 5000 crore in the next years. Meanwhile, the car maker also had announced that it will be launching 6 new cars. Speaking to press in Mumbai today, Pawan Goenka, president, Mahindra India told reporters that Mahindra is on a growth track and it will be investing more in the next three years as well as launching six new cars. However, he did not disclose any details. Meanwhile, as per the industry reports, the new cars will be viz. Mahindra Xylo Mini, Mahindra Verito CS, Mahindra Verito based hatchback which will be Mahindra’s first small car, Ssangyong Mahindra Rexton SUV and another will also be from the Ssangyong fleet – Ssangyong Mahindra Korando and the electric car Mahindra Reva NXR.
The Mahindra group has recorded an overall growth of 44 percent in the first quarter this year and had net sales of Rs 9,241.28 crore. Thus, Mahindra is all on the growth track in India with purely diesel cars in its fleet. Meanwhile, on being asked about the cess on diesel cars, Goenka expressed his opposition. Speaking about the international SUV by Mahindra XUV 500, Goenka said that after South Africa and Brazil, it will also be launched in Australia, West Europe and Chile next month.