Mahindra exits Brazil! Will no longer sell its iconic SUVs in the latin american country
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Mahindra is withdrawing from Brazil after a sluggish economy, changes in regulation and a depreciating currency hurt sales,
The company, which was selling the vehicles through its local partner, Bramont-Montadora Industrial e Comercial de Veiculos, sold about 250 units a month "in the best of times", Shah said.
"Where we don't see mid-to-long-term prospects, there is no point. We call spade a spade and get out of that," he said, adding that Mahindra will continue to sell vehicles in the neighbouring markets of Chile, Peru and Paraguay.
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