New launches to be the recipe of M&M’s future growth
Advertisement
Advertisement
Time of "degrowth" was over and now the whole auto industry, especially those in the SUV segment, was smelling a turnaround, said Mahindra and "Our target is always as high as possible but I will not want to guess on what the market share will be like. If I was a customer, I would find this (Jeeto) a very-very good value proposition and the brief that we had given to our teams was that once you look at this vehicle rationally there should be no reason to buy anything else in terms of purchase price, fuel efficiency, maintenance," he said.
Goenka told ET Now that the company plans to launch one new tractor every year for three years under the Mahindra and Swaraj brands.
He is optimistic over the number, especially with the report of a turnaround in the monsoon. "Good forecast now will definitely impact the overall sales in the country. There was a lot of pressure on everyone because of the monsoon, especially for Mahindra because two of our core businesses -- tractor and fairly large portion of the automotive segment -- are dependent on the monsoon this year. So we are relieved right now as the signs are that we will have normal monsoon or may be even normal plus, which is good for companies that are playing in this rural economy."
Under the Mahindra range of tractors, M&M sells models such as Yuvraj, Arjun, Bhoomiputra, Sarpanch and
Advertisement
"Nothing has changed from the last time we had talked, I have talked about launching nine products, three new platforms...we have launched one major change, which was the XUV 5oo. We are launching one new platform today, which is the P601 platform Jeeto vehicle. We have two new platforms coming up and five more for later, which will happen during this year," Goenka told ET Now
(image credits: autojunction.in)
Advertisement
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market